Evening star., 1932-06-23
CREDIT MEN WAGE
LOAN SHARK" WAR
TOPROTECT TO|LER
Bankruptcy Reform LegisIa-
tive Program, Indorsed by
Labor, Seen Assured.
l0VETT, KANSAS CITY,
ELECTED PRESIDENT
Charles M. Keefer of Washington
Among Those Who Will Serve
Three Years on Board.

The National Retail Credit Associa-
ton Is now waging campaign to rid
financially distressed workingmen from
the clutches of the loan shark, accord
ing to report today, and has OBJ
tained the Endorsement of the Ameri-
can Federation of Labor for its bank
ruptcy reform legislative program.
Delegates attending today's session
of the twentieth annual convention of
the association at the Mayflower Hotel
were informed by r. Preston Shealey,
Washington counsel for the organiza-
tion. that enactment by Congress of the
program has been practically assured,
Notwithstanding opposition of lawyers
in various sections.
Bankruptcy reform discussions occu-
pied most of the session. The delegates,
however, also elected officers for the
coming year. Tonight they will have
their annual banquet and at a brief
session tomorrow will select their next
convention CITY, Omaha, Memphis and
Rochester are bidding.
Kansas Cityan President.
Arthur P. Lovett, Kansas City, was
elected president, succeeding Frank Bat
ty. San Francisco Others elected were
Charles M. Reed, Denver. first vice pres
ident, and P. H. Carr, Minneapolis, sec
ond vice president.
w. w. Weir. Los Angeles. was elected
to the beard of directors for one year
Those who will serve on the board for
three years are Lee NJ. jain, Houston
Choflnc NJ ~ -; IT. -
Miller, Pontiac, Mich; A. c. Wehl, Mil
waukee, and L. S. Crowder of Chicago.
Mr.. Shealev outlined the Hastings
bankruptcy bill now pending in the
Senate. 1t deals with suspended dis
charges and amortization in settlement
of debts of individuals. He said the
measure was drafted as the result Of
a bankruptcy study by the association
and an outline was approved at last
years convention.
He explained that representatives of
four of the leading railroad brother
hoods and OF the American Federation
of Labor had specifically Endorsed pro-
visions for amortization and settle
ment OF debts, to the end that wage
workers who honestly desire to pay their
debts may not be harasSed by continual
garnlsheements or attachments of their
wages and thereby lead to the necessity
OF borrowing money at excessive rates
OF interest to pay those debts.
Bureau Report Applauded.
The reported restoration of part of
the 1898 appropriation for the Com
merce Departments Bureau of Foreign
and Domestic Commerce was applauoed
by the delegation. Mr. Shealey report
ed this bureaus appropriation had been
reduced % per cent under the amount
1t received for operating during the
current fiscal year.
The Commerce Departments 1893
supply Dill as yet has not been approved
by Congress. Because of drastic reduc-
tions in the operating expenses of the
Bureau OF Foreign and Domestic Com
merce, officials announced several
months ago that offices in 18 cities and
~ foreign offices would be closed on
July /.
Mr.. Shealey assailed the cut made in
the departments bill and called dele
gates attention to statistics showing
that only one-tenth of l per cent was
being expended by the Government for
the promotion of domestic trade out of
the l9 per cent normally appropriated
by the Government for civil running ex-
penses. He asserted rs per cent Of all
Federal expenditures had gone for wars,
past. present and future.
Other speakers were Representative
Baldridge of Nebraska, who explained
the new bankruptcy law and its con-
nectlon with the retail office; w. J..
Morgan OF New York, j. L. Fercoit of
New York. James Hayes of Harrisburg
Pa, and Capt. Harry w. Lyon of San
Francisco. The latter was a member
OF the crew of the Southern Cross on
its flight from San Francisco to Aus
tralia. He spoke on the possibilities of
transoceanic aerial travel.