Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-06-21
COMMERCIAL CONSPIRACY.
Aggravated North Carolina Case In.
der Investigation.
SUSPECTED Il L l OF CoLLusIOR
Well Known Philadelphia Credit Man.
Is Engaged in Running Down the
Facts, and Rrosnisessto Make Serious

Trouble for Somebody II He Can. =
Charlotte Observer, Saturday. =,
There are six lawyers in North Car
DINA against whom we have evidence
and to whom we shall turn our ,atten-
ton as soon as the cases against the
% Syrians Of eastern North Carolina,
coming up in Federal court In Raleigh
next week, have been disposed OF" s;
This announcement was made. bye.
H. Keelor Of Philadelphia, commercial
fraud investigator for the Nattohai
Association Of Credit Men,, at" the
monthly luncheon Of the Charlotte SAs=
sociation Of Credit Men held yesterday
at o'clock at the Southern Manufacc
turers club. ~. 't%..F as&Stit
Mr.. Keelor said that the six Lawyers
in question are among those who no
cept retainer's fee Of $50 or more thsa
write to the northern :. creditors.z taii
them that the debtor is executionpro
and throw.: the papers aWays:s ThSse
will receive the attention OF the aaso:
citation, he stated. tyr;l-,SiS 49,.
The 2s Syrians: In the eastern part CT
the state are to be:tried next week on
fraud charges, he announced, one: OF
the most wiry ones, ayoung man hav-
ing turned state's&eyidence after hay
ing perpetrated some Of the worst
frauds in the. history i. Of the natio9
starting a store, stocking up With
goods, falling. and starting another
store under the same name or another
name in a nearby town.. carrying this
method through several times, MI.
Keelor said. ~. - -
Announcement was made by LOUIS
M. Hipp, president OF the local assacfS7 !;
alton, that names of rs paid menhers
had been forwarded to the national 'as.
sociation.. Charlotte, has taken the bae-
ner for membership in class 3 :elttg4,
and John. L.. Scott won the indiyidnM
prize for adding: a, round dozen. nel!1;s
bers, President ,Hipp; announced: A
Scott, called, upon. for AN ,explanattah
said that he. had something goodNstl
sell, rather than being such a, 3Eo9g
salesman. -, - ( ~. :. 5.. ., -
I. c, Tripplett was programme q M chalESs! e; |!
man for. the day. and spresld q gys: tes;
meeting, introducing the afeaRsr: TIE
question OF dispensing with; meetings lla
until September was brought up AID
will be finally decided at d meeting; pf
the directors. c. IF. A Rapp, seesetas
rv. announced that If a constitution
and bylaws are thought, necessary .far
the organization, they may be: :adoppea
later. :-..- z ~ ss,s ~,
Mr.. Keelor said that reports OF Pres.
ident Harding Of the Federal reserve e
bank system, are that liquidation iSa
progressing rapidly. that wages a4a e.
interest rates are coming down 17.i ana ana
that there will be enough money NOT
for speculation, but OBSERVATION-DISCLOSURES
mess. BY fall business will De on an
oven tenor and confidence the most
important factor in business, VIII ne
re-established, ,"he predicted. ~
Mr.. Keelor quoted c. H. Tregoe, Sec
retarv Of the national association as
saving that the country has been driv:
ing it's automobiles at such q rate OF
sneed for the past few years, that tne
brakes had never been applied and tha1
thew had, therefore, become inopera-
tive when an effort was made to cav
halt However, disaster has not been
met within the past Ave or SIX months ms
and the country is getting along me
said. -'.rs.@7. -: -, -.
In 1920 there were s,4ss failures in
business, an increase. Of 81 per: cen'
over 1918. and a.. decrease OF 10 per
cent on 1918 failures and less than hait
the number on 1915. Since January
there have been 2S5 bankruptcies IN
philadelphia alone, or more than IN the
last three years, he said, adding tna1
Philadelphia is the incubator OF COM
mercial crooks. .... =,
In many cases 1t Is "all smoke ana
M fire." the national officer stated
saving that special training Is required
70 get at the bottom Of a case IN "a
short time to determine If such is the
case The crime of fraud is against
the government, not the creditor, ne
said, explaining the laws under which
he operates. -.
The main one Is the bankruptcy
law. he said, telling how the fraud IN
vestigator .co-operates with the. banks
for their mutual protection and benefit.
with attention to embezzlement,s de- M
struction or hiding Of property, false
accounting, looking after both theiref-
cree and the bankrupt. through which
the creditors are often. saved big :ac<
counts. =
Last: year in Wisconsin a manufac-
turing firm was placed in bankruptcy
the referee named and later sold the
property through an auctioneer. his
nephew, to his son, who took charge OF
the business and began operating 1t.
An investigation showed that the son
had no money to begin with, that ms
father, the refree, backed him IN the
purchase. They were arrested, the
creditors paid 100 centsson the dollar,
and $4,000 turned back to the bank
rupt, Mr.. Keelor said.
a-Ak