The Waterbury Democrat., 1931-08-29

One of the most busy and suc- . cessful years in the history of the local Chamber of Commerce was experienced during the past twelve months, the annual report of the organization, made public to-day, disclosed. The report, lengthy one, tells the work done and the accomplishments affected by the investigations department, the credit rating bureau, the mer- chants bureau, the statistical de- partment, the automobile depart ment, the personal service depart ment and other branches of the chamber.
 II During the year the investigations department saved $2O1,O71.7O for local citizens by suppressing fraud ulent undertakings. The report shows that the credit bureau cleared 15,600 local calls and 1,014 out of town inquiries. The success met in conducting Dollar Days and seasonal openings is alluded to in the report and it is explained that during the year 378 persons were served through the automobile bu- reau. The report. in full, Is as fol- lows:
 Investigations Department 5.
 During the year ending June 30th, we have investigated 663 cases through our Investigations department, resulting in a total saving of $201,071.70 to our peo- pie. In one case alone, a few months ago. one of our citizens saved $12,5OO.O0. Since the incep- ton of the department, in Septem- Der. 1928, 101,281 investigations have been made resulting in known savings of $814,354.04.
 Bulletins and flash notices have been sent to our manufacturers, bankers and merchants through this department, advising them on numerous frauds
 We have a definite record of each case in the modernly equipped file. Necessarily, much of our work is of a confidential nature and we can not speak of it generally to our people through any medium be- cause in so doing, we would de- stroy the confidence which we have earned. It is interesting to note that in recent failure, 179 per sons came to us for advice and as- sistance.
 0uTlnS tut past Jtdi, "t baN drafted, in cooperation with oth- erA a bill requiring all brokers and salesmen to register with the state banking department. This bin was presented by Senator Jo- seph Fl. Lawlor, and together with several other proposed drafts submitted, was incorporated in the new Securities Act passed at the 1929 session of the legislature, wkich was originally sponsored by cuf investigations department. The Securities Act, as now amended, gives the state banking commits sioner greater power in the sup precision of fraud practices in con- nection with securities, and has been of valuable assistance in the work of our department and better business bureaus throughout the state.
 Members of the bar, bankers, brokers, the "press," and many in- dividuals have been exceedingly kind in assisting us.
 Waterbury Credit Rating
 Bureau, Inc.
 During the year, the bureau cleared 15,60O local calls and 1,014 out-of-town inquiries concerning credit responsibility. We have on file at the present time approxi- mately 10000 ratings. Combined with the records of our investiga- tions department, we have a clear ing house of about 75.000 records of individuals and businesses on file.
 During this period, we have is- sued, bi-weekly, confidential bulle- tins advising our members on ac- counts closed to further credit, re- possessions, attorney accounts skips, removals changes of address bankruptcies, etc. During the same period, we have issued, bi-weekly From Time to Time" bulletins ad' vising our members on building