Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-04-25
CREDIT MEN 0. K.
WILSON'S STAND ON
MEXICAN QUESTION
Urged by Judge Haight They
Pass Resolutions Approving
Presidents Policy.

Resolutions supporting the attitude
of President Wilson In the trouble
with Mexico, as well as resolutions
denouncing the placing of northern
New Jersey in the Philadelphia re-
gional bank district, were passed last
night at the spring dinner meeting of
the Newark Association of Credit
Men, in the Down Town Club.
Judge Thomas G. Haight, of the
United States District Court, was the
principal speaker. He spoke of the
workings of the bankruptcy court,
and sounded a note of warning to
professional bankrupts," who, he
said, would find themselves in Jail
if convicted before him of wilfully
trying to defraud their creditors
He said he believed there was too
great a tendency on the part of cred
itors to throw a man into bankruptcy,
asserting in many cases 1t was I'M
fair to push a man over the brink
without first giving him a hearing.
Judge Haight said in part;
BIames Creditors.
THE bankruptcy law is one of the
most beneficient statutes ever writ
ten. l have been approached by some
business men who have told me the
law should be repealed. l do not
agree with them. The purpose of the
bankruptcy law Is two fold, its first
purpose being to relieve a man who
is SO financially embarrassed that he
cannot go ahead and carry on his
business affairs; the second is to
bring about an equal distribution of
the insolvent's estate among those
entitled to 1t. namely, the creditors
There is no trouble with the law
ITSELF the chief trOI1fnln hos
been with the administration of it.
One of the many troubles with the
administration of bankrupt affairs
has been and is that the creditors
have not taken the proper interest
in it.
81 don't believe a receiver should
be appointed without first giving a
bankrupt a hearing, unless it appears
absolutely necessary to preserve the
assets for the creditors. There are
many cases where the court should
step in and save the estate for the
benefit of the creditors.
Another situation grows out of
the same condition. Business men
have been inclined to denounce the
law and the administration Of 1t be-
cause of the receivers sole object in
some cases has seemed to be to get
his fees out of it,"
There is still another aspect of the
bankruptcy law that has been criti-
cized-the expedition of 1t. We are
all moving as rapidly as possible
Judge Haight then referred to
fraudulent bankrupts; urged creditors
to devote themselves to those profess
sional bankrupts whose sole purpose
is to defraud creditors. at can be
stopped" he said. Convictions and
sentences will stop 1t. 1t is the worst
practise American merchants have to
contend with under bankruptcy laws.
Judge Haight then invited those
with grievances not to hesitate to
visit him and consult him, stating a
lawyer was unnecessary In many in
stances.
A Plea for Wilson.
In concluding his remarks Judge
Haight said:
There is a cloud hanging over our
country today. There is Jerseyman
in washington whose heart is heavy.
He needs the support and co-opera-
ton of every thinking citizen in the
country. That cooperation and sup
port should come from nowhere more
than from the people of his own
State. May 1 ask that before you
leave tonight you take action in some
form or other to show him that he
has your moral support in this crisis
in his life "
In accordance with this suggestion
resolution was introduced and
passed unanimously. After the
regional bank district protest had
been passed the association Went on
record as favoring the law now be-
fore Congress which prohibits the
transmission through the mails of
false statements for the purpose of
, procuring credit. The act is one that
has been recommended by the Ma
| tional Association of Credit Men.
| Others who spoke were Curtis r.
| r. Burnett. Frederic 2. Crane and
! Newton Switzerland.