Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-10

INC success of Richmond exporters
conducting their foreign trade
, business liz dependent largely upon
mo determination OF the exporter "
Keep fully Informed concerning tie
over-chanIing provisions OF COM
= mercial-laws IN, var lo,Is countries. Of
ncials OF the Cooperative ONCE OF
tho Richmond Chamber of Commerce
pointed out last night
since the World war. IL has been
impossible for exporters to become
familiar with diEests OF laws In those
countries where business is done and
men to sit back, confident they are
iuly Informed. Tho laws in many
of the countries have been changing
Overnight. resulting in considerable
confusion on the part Of exporters
ana. In some cases. bringing actual
financial loss.
'6hcials of the Richmond Co Oper-
alive Officc. which has been kcepIn,
local exporting firms fully Informed
as TO sales opportunities abroad and
making available to them vas;
: amount or valuable Information dur
ting tho last few months. now are
gathering from several sources cur
rent Information relating 10 reccn,
changes in and Interpretations OF
Commercial laws,
supply Only General Inf0rmntIon
In bringing this Information 10 the
attention OF Richmond exporters. III.
local oiDce has pointed out that ohby
the most general Information can be
tuppiied In the limited space OF the
weekly publication given through the
cooperation or The. Times Dispntch.
Exhaustive reports and Information
ar" given through current publica-
t"us or tho Department Of Commerce
particularly commerce reports which
VIII be made available to local ex-
portcrs by tho Chamber Of Commerce
npon application.
(, Foreign creditors Of Salvudorcan
concerns. commerce reports points
out, are protected ayainst anv in
formal agreements. which may be
entered into by an iHsoivent debtor
aud his creditors. and are under no
obligations to accept them MS they
arc not notified to attend meetings.
th" creditors residing In the re-
pubic being the only ones invited.
: Foreign creditors must be represent.
"a IN bankruptcy. cases either by
fh"lr own counsel. Or by special
administrator appointed by the Judge.
american creditors. like all others.
must present their documents In or
der 10 enter a claim against an es-
ta'c or establish the existence OF
IN" debt due them. ~
Saivadore;,n law does not contain
any provision for determining the
effect OF bankruptcy proceedings
abroad against a firm resident in. Sn;
VaHor This situation Is governed by
IN" rules OF private international
Isw.
Not Conrr~tcIy Answered.
INC question OF whether or no, n
'"cai hrm has discharged it's obIi-
70 IONS toward its foreign creditor
ny rdnitting "A bill OF exchange for
IN" amount owed hy IL. drawn
through local bank which becomes
insoivcnt before the funds reach m.
rt'dit"r. is not concrete!y answered
hH Saivadorean laws However. az
=" hlIl OF exchange IL not an actual
payment. bu, only n means o! oh
t"ining payment. according TO Tho
custom followed in COMMERCIAL traps
acbons. the obligation IS not can
cei"d by giving draft that Is not
pam uuc 10 bankruptcy or any other
cause. and tho creditor can ALWAYS
enter claim against tho debtor
.toods that are nckuolwedCed l,v
ne council Of creditors or declared
by order OF the court 10 be the nrop.
cry OF tnlrd parties are required
ny Jaw 20 be segregated from mo
hhhKfupis estate and delivered 10 tn.
WV" owners The following art con-
s'o"F'H hs belonging TO third parties.
M rchhnd!se held by him on com
mission. In transit. or 70 he ,u,,ad