Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1915-09-23
CREDIT MEN DINE AND TALK
Annual Meeting of Vermont As.
ISOLATION Tuesday Evening.
Addresses Given by Paul Fielden' Sec
rotary Of Worcester Association,
and President Partridge Of Ver-
mont Marble Company.

~ "'''"'' ihttthlS VI thc
ISOLATION of Credit Men was held Tuesday
evening following a dinner in the private
dining room OF the Hotel Vermont. F. Il.
Kimball being the newly elected president
to serve the association the ensuing year
The meeting was attended by about ~
members of the association who heard
talks OF much interest to them along cred
Il lines from Paul Fielden, secretary OF
the Worcester Association OF Credit Men,
and the Hon. Frank c. Partridge, prest'
dent of the Vermont Marble company az
Proctor. A rare menu was served IN ex-
cellent form by the management OK the
hotel. and after the cigars had been nsnt-
cd the meeting was called to order by the
retiring president. Smith F. Henry.
The first speaker was Mr.. Ffelden. VINO |
told what the Worcester association mas
been doing for tho benefit of the credit men |
who are It's members He stated that our
ing the past year his association had not |
progressed as fast as that of the Vermont |
association, having at the beginning or
the yea GO members and after several
falling on: and others added the total
was 10. His association has numerous
committees, among which the work OF
looking out for tho members Is divided
The adjustment committee Is an impor-
tant one and has assisted many OK the
members to collect, where II the cases had
gone into bankruptcy they would not have
realized as much ms the committee ar
ranged for collection. Other committees
are the banking and currency, bank
ruptcy. business literature. insurance. leg
islation. mercantile agencies. investment
| and prosecution and membership. whose
duties he outlined. He spoke of the effort
being made TO get the Vermont. Spring.
| field, Providence and Worcester associa-
| lions to meet with tho Boston association
and urged that as many Of the Vermont
association possible be there to gain
the benefits to be derived from such a
meeting
| Mr. Partridge, the next speaker. told Of
credit conditions as he had observed them
His keynote was for the credit men to be
extremely cautious in extending credit
during the present uncertain period which
Is upon the country The present depres.
sion Of business Is not necessarily traced
to the war now being waged in Europe,
but started long before the declaration
OF war. The legislation on the tariff
and the so-called trust legislation have
interfered greatly with business having
awakened a suspicion on tho part Of the
business men. Germany has built up her
great industrial enterprises on lines just
opposite TO those which have been car
ried out in America. The fact that the
depression began before the war Is en-
couraging. the prospects being that bust
ness may regain its normal condition be-
fore the close of the present struggle.
There Is no question but what the great
loss Of life and waste Of property in
Europe will have a great economic eff
feet on this country. but just what that
will be Ia at present most uncertain.
One effect the war will have will be to
shorten the supply Of immigrants need
ed in this country as laborers with the
expected expansion Of business. which
will advance the cost Of tho manufac-
tured article. No matter what the result
OF the war will have upon this country.
there will be n need OF capital on the
part OF the credit man. who should be
cautious In present business looking to-
ward the future
In speaking Of the duties Of the credit
man to himself Mr.. Partridge said that
Just as education has the three RS.
credit has three Cs. Character. Capacity
and Capital. and not only should the
credit of the man who wants loan
be thoroughly investigated. but the
credit man should know whether or not
ne wished to make the personal risk.
Collections should be required frequently
and interest charged on all overdue ac-
counts. as in the business which the
members of the Vermont association arc
engaged credit Is the basis and cannot
be eliminated but must be regulated. In
closing. the speaker stated that he had
! an abiding faith in the progress OF the
world and in the progress OF the United
States which had always gone ahead at
a more rapid rate than other countries
and would ne believed, so continue to
do, and that when the time for increased
business came he wanted Vermont to
be ready to take its full share.
Following Mr.. Partridge's talk the
minutes of the last meeting were read
BY the secretary. who also presented
his yearly report.
SECRETARY-TREAS REPORT
The report OF the OBSERVATION-DISCLOSURES
II. s, Howard gave in detail the prtnclpa
features of the years work. An abstract
follows:
The past year has brought marked
increase in the membership Of the as
ISOLATION. r. &. Heacock, field representa-
tive OF the National association at the
time OF his visit here. working weeH
In Vermont with success The member
ship was increased from q to Is mem
bers and one, the spear-Martin Fur com
pany, has resigned. leaving presen
membership Of Is. with Ave members II
localities outside Of Burlington
Another important change made dur
ing the year was the adoption OF forma
constitution and bylaws, changing thu
name from the Burlington to the Yer
mont Association of Credit Men. and !
is earnestly hoped that we may secure
other members in every city Of the State
In this way 1t is expected that member
can get exact information from ever,
section and furnish desired credit an'
other information to members or the Ma
tional association In other States
The meetings were omitted during las
winter owing to the activity OF the Bur
lington Merchants association. which ha'
n luncheon each week. One meeting wa
held Jointly with the Merchants associa
ton and the local council OF Commercial
Travellers In the form OF a banquet
which our wel-known and able secre
tary treasurer. J, II. Tregoe Of New York
delivered most inspiring address OF
the value of the National Association o
Credit Men, pleasing feature OF IN
years work has been the cordial rela
= tions between the above-named organiza