El Paso herald. (El Paso, Tex.) 1901-1931, 1918-12-04
CREDIT MEN To
STOP FAILURES
Association Recognizing;
To Use Efforts To Help
Shaky Houses.

To Use Efforts To Help
Shaky Houses.
A change in the name % the Tri-
State Association Of Credit Men. and
the opportunity to engage the super
visory services of an expert credit
man who, through illness. has CHANGED
70 make his home in Fl Paso. was the
outcome Of the reorganization lunch
con OF the FL Paso Credit Mems asso-
citation at the Sheldon cafe Tuesday
night. The expert who was recon-
mended and eulogized by his sponsors
lis r E. Blanchard. formerly Of Fort
Worth and Dallas.
The meeting was called to order by
W. H Loretz, vice president Of the
former association. who appointed
Julius krakauer chairman for the Oc-
casion- AR. Krakauer summed up the
necessity for a credit mems reorgani-
ZatiOn as means TO aid the bankers.
manufacturers and wholesale jObbers,
10 meet with the odium of many debt
ors that will probably ensender when
the present prosperity can no longer
foster the inefficient business men. He
said:
Sees Business Fight.
"The war has created a condition
with its initiation Of markets and
prices that will demand. in the read
justment Of things. the utmost en-
deavor Of business men TO meet the
law of the survival OF the fittest. And
although il is prevalent that the
southwest has not benefited greatly
from the teeming prosperity. statis
tics show nevertheless that the num-
Der of business failures here have been
4nHa ? H.
fore Whatever the reason for this.
the fact still remains that we are 60
ing tQlfeel the reaction Of business the
same as every other part Of the cOun-
try, through its reflection on the mar
ket The wedding out process, then,
when, with the waning or suspicious
prosperity. the incompetent can no
longer help themselves. viii create I
many failures.
Aid Honest Debtor.
"Our duty is 10 organize that we
may aid the honest debtor and guard
ourselves against the dishonest. And
FL PasO should be the center OF the
organization not because we are sell
fish TO nal Ike II the center. but because
God has chosen to make il the most
logically situated city for that pur-
pose. The next thing. and the most
important, is to choose the right man
for the leader; and he is Z. T. Blanch-
ard, whom I can not praise too
highly"
Explains National Work
Mr.. Blanchard calculated the pro- /
gressive work OF the national asso- {
citation which, with $4,000 members. !
was solely creditable for the national !
bankruptcy law, and OF the local as 1
sociations for the false statement and |
bulk states laws. These laws. re-
spectively, assure an equitable distri- I
button to all creditors: prevent the ]
OF goods or money on false /
and prevent the purchase |
Of stock from a failed, business with /
out a zen days prior notification 10 (
all creditors He continued;
To Prevent Failures.
There will be two auxiliaries 10 the Z
association. the adjustment bureau for ]
the prevention of failures. and the !
ton Dreeluding the evils that cause /
dishonest failures.
LAS an example Of the preventive
work of the adjustment bureau. there
was a business man near Dallas. sew
eraI years ago, who, after contemplat-
ing bankruptcy, was aided by the local
association 10 the extent Of rehabili- !
tating his business 100 percent be-
sides a surplus $4,000 in the bank, after
a very short time.
Plan Confidential Register.
THE interchangeabl bureau will be I
a confidential register Of information
regarding the relative standing and
business character of all men with
whom our members do business This
viii be financed Independently from
the association. because Of its dispro-
port onare. expense. though don { ]
doubt but that every member will
want also TO be affiliated with this
bureau, as every banker. manufac
turer and wholesale jobber must know
the standing Of the firm to which he
grants credit"
Cost $4,000 n Year.
Mr.. Blanchard further explained
that the expenses would amount TO
$4,000 a year. including his salary.
$1,000. but some Of this would be off
set by the income from the adjustment
bureau He suggested as a means to
start financing the association the is
suance Of zoo bonds at $50 par value, /
IS the prospective 100 members with
annual dues OF SIS viii not cover the
first year. This was deferred for later
action There viii be two part time
officers and two stenogrsphers, with
offices IN the Caples building
Lawder Tells New Plan.
Samuel P. Lawder, OF the federal
reserve bank, spoke OF the value Of
the association 10 promote the use OF
trade acceptances. These are a form
OF banking paper substantiatsd by
fixed assets and permanent equipment I
The idea is to have each retailer issue
one OF these acceptances for the
amount Of his indebtedness so that
at the end Of his allotted time the &C
ceptance can be returned to him IN the
form OF a draft on his inherent bust /
ness This plan is purposed to over
come laxitS on note payments
The nomination Of officers and the
threshing out OF other vital matters
was vested IN a committee OF five,
composed Of c. s Nasits. o. J. Allen. /
Edward Sanders. Phillip Baber and
NJ. H. 8fcCallenn. Others present were
J. H Blackwell. Dean r. Clark. \. J.
Engquist, o. W. Borrett, J. A. Rater-
mann, J. 7. Fitzpatrick, Joseph Rehin,
Louis Horwitz, Ben Swat, Willis II.
Ransom, A. A. Martin, P. s Ford. r A.
Farrell, J. r Segal1. r. L Daniel. H.
Y. Virgins. P c. March, S. L. Davis.
F. B. EzeIl. II. z. Miller, A. s Peatross.
Samuel r. Lawder. c. II. league, r
Weinstein, A. L. Nicholson. C. ".
Smith, J. J. Behrendt. H NJ. Title, H.
P. Vaughan. J. S. Thompson. r. H.
Oliver, J. W. Johnson. n. ". Chant, 7.
y. Tynes. ". NJ Laughlin, G. z. Rogers.
J. F. Driscoll. V. Van Gieson and wal
ter L Kohlberg.
TO HAVE TEACHERS EXAM.
a county teachers examination for
certificates Of all grades will be held