Evening star., 1915-03-26
Supt. Nesbit Suggests Meth
DDS Of Reducing Drain on
Country's Resources.
EDUCATION OF MASSES,
BUILDING REGULATIONS
Samuel ]. Henry Discusses Financial
System-Addresses at Luncheon
Of Credit Mems Association.


Of model financial statements were dis
cussed at a luncheon meeting OF the
Credit Mems Association Of Washing
ton this afternoon at the Ebbitt.
Charles F. Nesbit, superintendent of
insurance Of the District. told Of the
millions of dollars worth of property
that Is destroyed by fire each year in
the United States. largely, 1t was
charged, as the result of carelessness.
Samuel j. Henry, manager Of the 18th
and 81 street branch of the Munsey
Trust Company. spoke of the value of
scientifically prepared financial state
ments in the extension of credit.
'The magnitude Of the fire waste as
a drain on the country's resources may
be somewhat appreciated when 1t is
considered that during the last gen.
Grafton the property destroyed by fire
in the United States and Canada has
reached total Of $1,000. 900. .000," said Mr..
Nesbit.
.rhere are two methods of reducing
this fire waste. The one Is education,
and this is by far the moro important:
the other Is by laws and regulations
provements, use of explosives and high
ly inhammable materials. The cam
paign Of education regarding fire loss
Is of very recent date In this country.
III
loss by so or 80 per cent, and it should
be reduced very rapidly.
Precautions by States and Cities.
"Fire Prevention day has been made
an order of exercises by the officials of
many states and cities, and the Nation
al Fire Protective Association has pre-
pared a series Of lessons for use in
public schools on this day. I have
recommended to the Commissioners
that / have set aside next fall a day
as Fire Prevention day. to be observed
by as many bodies and organizations
that the public schools set aside a day
for lectures regarding this vital sub
ject. Looking toward the Introduction
Of education along this line into the
Washington public schools. I have al
ready offered through the board of ed
ucation a first prize OF $50 in gold and
q second prize of $40 In gold for the
best essay written by any high school
pupil on the subject Of The Prevention
Of Fire Waste"
Suggests Basis Of Credit.
That a scientifically prepared state
ment on the financial status Of firms
and individuals desiring credit win do
moro toward the extension Of credit
than any other thing was the declara-
tion Of Mr.. Henry. He said 1t is unfor-
tunate that a standard form for state
ments of this kind had not been estab-
lished years ago. The fact that several
different forms are being employed Is
confusing.
The statement is the barometer of
business activity" said Mr.. Henry. 'It
progress or decline. What is needed is
Q form that is generally Informative
- well as statistical-that is, simple.
and therefore helpful and Illuminating,
and of genuine assistance to the bor-
rover and the lender.
IF an association such as this will
adopt and place it's stamp of approval
on . statement form a tremendous
step forward will have been taken in
Q much needed matter of business
education and business morals. 1t will
mark q milestone in the march Of COM
xnerctal progress. Such a step would
BE- acclaimed by every responsible
merchant and banker as making for
the greatest good to all-for the seek
. = g, credit as well as the srant0r OF
with the requirements Of banks
from borrowers. with the need for ac-
eurate income tax return to the United
states government and the probable
board with respect to statements from
borrowers who wish their paper re-
discounted by the federal reserve
banks. the need for q model financial
statement form has been removed
from the field of academic discussion
and placed, with added Significance. on
the plane of practical affairs, for the
action Of practical men such as COM
pose this body.
Guests at the Luncheon.
Among those present at the luncheon.
which was arranged by a committee
consisting Of Cuno H. Rudolph. A. r.
Harlan, A. W. Wright and r.. p. Shea
ley were: Mai. Kutz. Engineer Commits
sioner; II. II. Mckee, Thomas W. Smith,
H. K Simpson. Cuno H. Rudolph, Giles
Dyer, John Mckee. Z. B. Adams. T.
W. Buckler, George W. White. w. T.
Gailiher. George 4. Walker, B. B. Earn
shaw. Joseph K Sharp. C. L. Bowman,
Bailey Shumate, F. ". White, Lee D.
Latimer. ". H. West. Edward r. Riggs,
II. II. Bergman. Z. J. Walsh, W. A
Brown. H c. Birge, John Loughran, A.
W. Wright. R K Cook. H. r. Wilkins
]. 7. Williams. Max Fisher. W. J. Wen
borne, c. c. Mueller, =. A Tschiffely, g.
C. Rsdman. NJ E. Horton. A K Phillips,
r K Tyler, Joshua Evans, jr.; John D.
Howard. Floyd 4 Davis. q. B. 6tarkey,
q. Il Emmerich. L. r. Peak. James r.
Hood. A. l. Clapham, c. W. Warden,
H L Phillips. 8. J. Henry. John L
wilkins. Arthur J. May. N. A. Keans,
A. r. Harlan. r. P. Shealey. A. r. Eber-
y. W. w. shearer. c. H. Pope and II. 8.
Jordan.