, 1925-01-15

the president and c. C. Cox as the
manager, has steered the exchange
through its first year of existence In
a: very cerditable manner. 1t was
thought best to elect a whole new
b6ard for the year 1925 in order
that new ideas and life might be
given to the exchange and by elect
Ing a new board more members
would have a chance to see and ex-
perience. the workings Of the ex-
change. Carl Hilliard was elected
president of the Q board Of d.
rsctors, The other members who
were elected were: Chris Keldsen,
Dave Rusk. Grant Mckay and VIM.
inland. Earl Barnt was chosen vice.
president and Mr.. Cox was reelected
secretary and treasurer.
In reading the secretary's report,
Mr.. Cox being secretary and treasur-
ef as we'll as manager. gave the his
tory n a review Of the exchanges
first ear of existence. During the
course of the yea SO weekly bulle-
tins were sent out to the members of
the exchange; Sc weekly transcripts
were issued and 296 bankers trans
Cripts were sent out to the several
banks in the county. Thus have the
members of the exchange been pro
vided with information which helped
them in the handling OF outstanding
accounts. AS was brought out, cred
1t conditions in the city seem to be
much better than they have been for
some time because the merchants
have paid more attention to the ex-
tending of credits.
The treasurer's report, as stated.
shows the exchange to be in a very
strong position financially. The ex-
penses of the first year have been |
large. however, such Items as furni-l
ture and fixtures. equipment. etc.
have cost h exchange a consider
able amount OF money that will not
be present in the coming year. Also
at the close Of the first year the ex-
change has 5000 master credit
cards. the value Of which cannot be
figured in money. The prospects for
the year 1926 are excellent and the
exchange should be able to greatly
help its members.
In giving a short impromptu talk, /
President Aman stated that the ex-
change o had rs members but
that the members. with the exception
OF Il few reliable ones, did not at
tend the meetings as we'll as they
should. The old board. composed
of a. A. Tobias, vice president. II. +.
Pilon. Jake Ziegler. George Pierce
and II. Larsen had given him Won
derful support In time and efforts
and he hoped the new president
would have as good support from the
newly elected board. The old board
IL proud OF the achievements Of the
exchange in the first year OF Its ex-
istence and with the able assistance
OF Manager Cor the exchange had
~weathered the first and hardest year.
MIR. Aman stated that the exchange
IL now In n position to take quick and
stringent action on any accounts
II an account is turned in TO the ex-
change. the creditor car eel sure
that the exchange will take i'm
lection.
brought out the fact that in the past
Few months more members were
taking advantage OF the exchanged
because OF the value the exchange
ts to the many businessmen in the
city. II IL a big asset TO tho mcr-
chants and II they do not take ad-
vantage OF II. II Ii their own fault.
In the past year the exchange has
located several parties who owed old
accounts and II has collected many
accounts which had been standing
Tor some time. Tho exchange now
has \ very complete set OF records.
which In itself IN \ world OF infor-
mar has 10 do IN to refer to these
RagnrAA aud ~ saN tail l.,.s .h..A l