Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1916-08-22
CREDIT MEN HERE
FROM ALL SECTIONS
THEY kEEr, TRACK or you

The man who giants you credit, OF
fefases yeu credit when you ask II in
big store anywhere in the United
States, "a In town
Ne is also the man who reports to
his local association whether you pay
yguf bills ordinarily IN thirty days, IN
sissy days, In hinsty days, or not at
All.
He IL the watchdog Of the credit
system Of doing business all over the
tinted States lie is the credit man.
The National Retail Credit Mems
association is In Omaha for a three
days convention al the Hotel Fonte-
nellie. Invoeations, greetings. ad-
dresses of welcome, and a speech by
President ID. J. Woodlork Of st. Louis
started the convention on its way
shortly after 10 O'Clock Monday morn
ing Probably 100 delegates or more
were present for the opening, Every
train today IL bringing in others, aud
stfsgglers are expected to arrive even
Tuesday.
Many Want Convention.
Already hustiers from various cities
are on the job looking for a chance
TO land the next annual convention
for their home town. Davenport,
Pueblo and Cleveland are Logging for
the next convention, and 1t is expected
others will get into the fight before
the close Of the convention.
Talks on Bankruptcy.
Attorney Stanley Rosewater OF
Omaha talked on bankruptcy during
the afternoon session. The credit
me should give more attention to
the criminal part of the bankruptcy
laws, Mr.. Rosewater declared. He
pointed out that the bankruptcy law
al present contains provisions render
ing persons criminally liable Tor
knowingly and fraudulently conceal
ing. while bankrupt, or after his dis
charge, from his trustees, any OF
the property belonging to his estate
in bankruptcy.
He drew attention also to the clause
which makes ii a serious offense for
any person knowingly or fraudulently
to receive any material amount OF
property from bankrupt after the
filing OF the petition, with intent to
defeat the bankruptcy act, .
Successful prosecutions for criminal
violations OF the bankruptcy laws have
been very few, he declared, compared
10 the number of cases in bankruptcy
IN which something crooked was
suspected.
Would Amend Law,
Amendment rather than repeal OF
the bankruptcy law was urged by the
speaker, He mentioned the Anti
bankruptcy Law association, the pur-
pose OF which is to secure the repeal
"a the act altogether, and warned the
credit men that too much wholesale
overhauling OF the bankruptcy act
might merely aid the enemies OF the
act In securing its total abolition. ut
seems, well. therefore" he said, that
YOU concentrate your efforts on the
principal objections to the act and in
gemedylng its chief detects"
As Bit OF recent history OF inter
est here, the speaker quoted figures
irOm r, c, Hoyt, clerk OF the federal
Gaart in Nebraska, showing that dur
sng the fiscal year Just ended, III
Bankruptcy cases were closed IN Ne
araska Their liabilities totaled Sl,4lS,-
9S9, aud their assets S44l,720
Conclusions Reached.
Eie summed up his advice to the
saedit men as follows; Insist on the
pnuPsF aud prompt enforcement of
tho bankruptcy laws. Eliminate
hhFough force OF public opinion and
otherwise its occasional delays, In
the same way and by legislation stop
all urEl GesSary expense in it's admin
stratioH. Remember there is a cFimf-
nal branch OF the bankruptcy law that
should be given proper attention, that
shoald be more often invoked that
enforced will help business conditions.
I'll cap be improved gradually and rem
deUed more effective by certain
amendments. Ii property and
aremptN enforced, however, to the
9nut of it's possibilities the law should
stand today an example of broad and
constructive Legislation. Its repeal
would be a great mistake and has been
cen sistently opposed by business men
and by the American Bar association" !"