Evening star., 1928-03-04
STABILITY CONTROL
SEEN FOR FUTURE
ClsinesS Eruptioas win Be
Prevented. Miller Tells
Credit Men.

That the huge prescnt-day business
consultations may eliminate business
cycles and dspresSionS was the belief
expressed by STEPHEN ]. Miller. cxecu-
tive manager of the National ASSocia-
:icn Of Credit Men. at thc annual Mid
winter banquet of tn local association
at The Willard las: evening, Mr.. Miller
declared that the business executives Of
the future. who already have the power
tc control output. will know 81 much
about the purchasing power of the
people that it may te possible to MAIN
tain business stability.
The merger is the result OF the
economic education of business men.
said the speaker. The large industrial
units put their executive i'll a position
TO mark the level of the supply reser-
voir. Manufacturers are now refusing
Il ovsrstock their warehouses and load
up the merchant with goods that cam
not be moved quickly. The next IS
years will test the strength Of this new
profession - more scientific business
management"
Vast Credit Chain Built Up.
E. Paul Phillips, manager Of the
Eastern Division Of the national aSso-
citation. spoke on the modern methods
used By credit managers in protecting
the financial affairs of both their own
organization and of their organizations
doctors
In line with the modern trend to-
ward organization and higher business
ethics he explained. credit managers in
all parts OF the United States have
Joined forces and have established ad-
!ustment bureaus, which are on-profit-
making organizations. owned and con-
trolled by credit executives in 30 cities
The chief aim Of these cooperative
bureaus" Mr.. Phillips said. is to save
honest and deserving debtors by re-
habilitating their affairs whenever pos
sible. Skilled men are placed in charge
OF the affected estates before the assets
have bcen dissipated ana before the
finances have become involved in legal
complications. and every effort is made
- put the debtor back on his feet
financially
Speaking Of the improved methods
employed in credit work today, Mr.
Phillips pointed out that credit man.
ayers throughout the United States, by
means of organization. have built a
Nationwide system of exchanging credit
Information. He said that the national
sre.em functions through 68 credit in
terchauge bureaus. located at as many
strategic points. and through a central
credit interchange bureau at ST. Louis
Record Attendance at Banquet.
The attendance at the banquet was
the largest the local association has
ever had. l.. T. Watts. the president.
presided. while Harry Y. Haynes. presi-
dent Of the Farmers & Mechanics Ma
ticnal Bank. was toastmaster. It was
the first visit here of Mr. Miller since
he took his present position after
resigning as educational director of the
American Institute of Banking. An
other national officer present was J. A.
Pilling
Seated at the head table were: L. T.
Watts and Mrs. Watts. Harry v.
Haynes, Mr.. and Mrs E. Paul Phillips,
Howard Moran. vice president OF the
American Security e. Trust Co.. Mr..
and Mrs. w c. Henson: H. H Mckee,
president OF the National Capital Bank:
John A; Reilly, secretary Of the local
association: Stephen l. Miller. l. j.
Chapter American Institute of Bank
Ing: r p H. Siddcns, secretary OF the
American Security &, Trust Co.: Miss
Elizabeth Mcnamara and Miss
Demerest
In'erspersed with the dinner were
delightful entertainment numbers.
The banquet committee consisted of
r. p H. Siddons. chairman: Lister T.
Watts. John A. Reilly. John NJ Auth.
Mrs. z. J. Hess. w. G. Hanson, w. r.
Simpson, r. W. White and r. d. Lewis
Yesterday noon President Coolidge
received delegation from the associa-
tica together with their out-cf-:own
guests at the White House.