New Britain herald., 1924-12-17

omy. he asserted. Much attention should be paid to holding the price right, or ths result might be the killing of the hen which laid the golden egg" Economy Is the key 10 future prosperity.
 To Suppress Commercial Crime.
 Much concern was shown on the part of the committee and himself, MT. Tregoe said, by tho decision of the National Administrative board to request MT. Tregoe to remain in New York during December to form ulate plans for the raising of fund of ss2,OOOO,O00 for the suppression of commercial crime. An effort will be made to instlll more of the word of God Into the life of the commer- cial world.
 He said that despite the decision of the Administrative board he took the liberty to come to New Britain and address the convention and he expressed his pleasure in being pres ent.
 In a statement made by Mir. Tre- goeshe said
 We shall enter 1925 with a better confidence and outlook than we en- tered 1924. In the early part of 1924 business movements were sluggish. There was feeling of depression in some directions and commodity movements as whole ran slower than in the previous year.
 The higher prices for our agrl- cultural products brought about largely by the foreign demand for them changed the situation and helped in the liquidation of long out standing indebtedness. All through the year, however, our credit struc- ture has been very sound. Never has the country had larger credit facill- ties. Fortunately they were well controlled and not permitted to be used for speculative purposes. Con- tlnuing the present administration In Washington inspired confidence in the future. gave.impetus to buying and with our strong credit structure there is no reason why 1925 should not be a very satisfactory business year.
 What 1t will be, however, must depend on the largest measure upon the prudent uses of credit and re- training from pressing production where 1t will far over reach our con- sumption powers. Keeping produc- tion and consumption in proper ra- tio Is the most desirable thing for us to accomplish In order to make 1915 as prosperous as it might be-"
 "Dwells On Three C's
 Frank L. Odell, former state sec retary of the Connecticut Association of Credit Men, and now resident manager of the Webb Institute of Naval Architecture. New York city, made a short address in which he emphasized the pleasure of again being a guest of the Hartford Asso- citation of Credit Men and being privileged to renew acquaintances with the representatiI membership from all parts of the state.
 MT. Odell dwelt upon the splendid principles of the organization for the elevation of business ethics and safeguarding of bad debt waste; also the cooperative work of the Hartford association and the individual efforts of former President Young, Presi- dent Pierce and Messrs. Alton, Gus letter and Rice. He further stated that there was never a time like the present when the economic situation | of the country demanded close ad- herence to the credit gospel based upon the three "C's", namely char acter, capacity and capital. He ad- vocated: The continuance of the state organization with loyalty 10 the state secretary; keeping up a large membership by individual ef- forts; place pep" and constructive ness in the dinner gatherings; sup port a state and national interchange bureau; create q local and state ad- 1 justment bureau.
 F. S. Pierce, president of the Hart ford association, presided at the ban quet,
 r. C. Gustetter of the Phoenix h. surance Co.,. Hartford, chairman of the legislative committee of the as- sociation, reported on the work of l his committee and the outlook for future activity along legislative lines
 R. H. Hubbard Director
 Henry Pease of the Hartford Con necticut Trust Co.,, Hartford, chair. man of the nominating committee Of the organization, reported the nom, ination of R. H. Hubbard of the Beaton 6, Caldwell Co.,, New Britain as a director of the association for q term of one year, to fill an exist ing vacancy.
 Other speakers at the banquet were: William E. Hiliard. of the New Haven Association of Credit Men; Arthur MahOney, of Sargent ( Co.,, New Haven; R. NJ. Rice oi Manning, Bowman & Co, Meriden newly elected vice president of the Hartford association, and L. w Young of the Stanley Works Mir Young extended welcome to the visiting credit men and expressed the hope that they would meet ir this city at least once year.
 Entertainment was furnished by tha Misses Sylvia Nnrden. Editt