The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-03-15
.CRED EXPERTS
To HOLD OPEN
DEBATE
Question. Of Uniform Systems
viii BE Argued at Assoc
citation Meeting.
IN an effort to establish uniform

In an effort to establish uniform
systems of credit extension In
Washington and Baltimore. the
Washington Association OF Credit
Men, made up of Washington
wholesalers, is tonight holding open
debate with Representatives OF the
Baltimore Club.
/. The debate viii be the important
feature Of q dinner meeting at
$50 o'clock at the City Club. The
subject will be Resolved: That on.
the strength Of the financial state
n1ents submitted, the retail grocers
submitting said statements shall be
entitled to 81 900 worth Of credit
The Washington team. composed
Of James s. Mckee, william @.
Buchanan, and John e. Moore,
will take the affirmative. The Bal
timore team includes Francis Al.
Davis, William III. Gebhart, ana w.
Holmes TardeW. Extension OF
credit on the show of good faith
demonstrated in the submitting Of
financial statement has long been
q moot point between the two
clubs Tonight's debate is expected
to bring out facts upon which ef-
forts to bring about an agreement
can be based.
Aims or Association.
The closest cooperation between
the clubs OF the various cities has
long been the aim OF leaders IN the
Washington Association OF Credit
Men. The principal objects and
aims Of the association follow:
TO promote the friendly adjust
ment ct insOlvent or anticipated
insolvent estates
To promoted the Interchange Of
credit informatiOn.
TO unite credit men for the pro-
lection Of mercantile credit.
To induce legislation for the pro-
motion Of honesty In business.
TO obtain improved service from
mercantile agencies.
To prosecute fraudulent failures
and guard against imposition.
TO aid by precept, example and
counsei IN removing causes that
lead to financial failure.
To assist In ablishing uniformity
in business customs and laws.
Members Of the washington asso.
citation automatically are members
OF the National Association Of Credit
Men, with q total membership or
81. 600 Membership carries with II
an Immediately recognized standing
I'm any large city In the country.
The association warns all members
against unreliable flaercanfiley and
collection agencies. All members re.
sceive the Monthly Bulletin OF the
national association, the only 81.
Eclusive creditmen's publication.
Organized Nine Years AEO.
The Washington Association 81
Credit Men was organized about
nine years ago. 1t il now composed
!of 40 representative Washington
concerns. including manufacturers,
wholesalers, jobbers, banks, and i'm
surance companies.
The +Washinton Association, !" said
one Of the officers today, believes
that men can do collectively that
which 1t is impossible to do indi.
IviduaIIy. The prosperity of all mon
rests upon the stability of com.
merce, ana commercial stability up
Ion the soundness OF credit. Co.
operation and association, are the
vital means and the power to bring
about laws, customs, and conditions
necessary for the highest CONNER.
cial development OF the country"
East October the association took
one Of the biggest steps in its his
tory, when it established a credit
Interchange bureau, through which
subscribers obtain the names Of sen.
ing houses for the exchange of
ledger information.
Through the daily reports made
by subscribers, the bureau records
iunfayorable information, such as
trade abuses, deduction of unearned
discounts, unjust return OF mer-
chandise, and cancellation OF orders.
Ledger experience Ia rated as
the most valuable information oh.
tainable, because 1t is based on
fact and not mere opinion" said
=. A. Reilly, assistant secretary Of
the association. 1.-THE credit inter-
change bureau is the only source
through which the names OF selling
houses or references may be OBJ.
| tanned, and 10 a service that will be
found invaluable in every credit
department"
The success of the bureau has
been due to the efforts of William
Gordon Buchanan, chairman of the
interchange committee; James s.
Mckee, vice chairman; Robert
Preston Shealey, counsel; Robert
c. Daniel, Carl G. Mueller, F. w,
Buckler, A. w. Wright, John A.
Reilly. and Granville L. Sweet.
1.-THE association maintains an ad.
justment bureau for the economic
administration Of temporarily en-
barrassed or insolvent estates
through mutual Consent of credi-
tors without court proceedings. I"
Reilly continued. "It influences
and directs concerted action by the
creditors for the best interest and
benefit of all to prevent unneces-
sary failures; to facilitate and Sc.
cure extension of liuuidations
when, upon investigation, it is
found to be for the interest of
those concerned.
Friendly adjustments, through
extension agreements usually save
the debtors business and paw cred
itors in full. The bureau ATTEMPTS
to secure capable and efficient re-
ceivers, appraisers or trustees. in
order to obtain a speedy adjust
ment of honest failures at a. mini
mum cost and q maximum dividend
to creditors"
The activities of the association
are carried on through it's officers.
board Of directors, and committees. :.
which include over half OF the 40.
ISOLATION membership.
The association through an ener.
getic legislative committee, has nut
up strong fight for laws to pro.
tect credit grantors. II considers
ffa greatest allcraaa The ~n1ny.@