Salt Lake Tribune | 1912-01-11 | Page 9 | Credit Men Want More Protection

fllT fflffl WMU flDREPRDTECTIOfy Ask Retailers of State f io Carry Heavier . Insurance. Icurity to Jobbers i Plaim Brunt ot I-ire Losses Has Fallen Upon the k Wholesalers. Retail tlealnrs throughout the state MUt cany heavier Insurance on their KtrnlieF and slocks In trade If they wish KTnW credit privileges from whole -Eji and Jobbing houses. Jfcrcused by a number of recent fires .n Kitantllc establishments. In which tlu-jje;, tlu-jje;, for lack of proper Insurance, luu HBta'mo.stly on tho wholesalers nnd Job-HK Job-HK 2' creditors, the TJ l all Association fljgredlt Men took stops at Its regular HHwiK ot tbo Commercial club yoster-HKTiavvarfla yoster-HKTiavvarfla the enforcement or sucn nji HEire lias been several disastrous fires t state clurinir the last few months. S '.which the losses ha-ve been Inadc-itelv Inadc-itelv covered by Insurance. A notable tan'ce of this was the fire ni Gnrileld j t woclc. when the Cooper Memmtl't-re Memmtl't-re burner! at a loss of SM.UOO, of Niich only SnOOO was covered by Insin Hicr. Creditors of the company, mostly 1 Hjlholesalors from whom the stock was Hircliasel, were the principal luscrs. HTTlie fiSEOclation believes tlmt hinsnnit tsthe stock and promises or a retail jjie are practically the only i-ecnrltv t vholosalcr nn rely upon n ovtenil-r ovtenil-r credit, the latter has v:j-y right to mand better fire protection. It was I tided to have all firms identified with , t credit afsoelatlon notify their cus- i ,u;rs that i redlt will not be extended iJpS proper insurance is taken our I :inst lows by fire or other causes. The ouestiou of taking steps to offset i, Impending attack on the federal luink-ptcy luink-ptcy law In the national ongress whs ten rerious -o)islderatlon at the mect-r mect-r yepterdax Seral attempts inpenMv ve b"nii aiade 10 have the raw repealed, i it rrtrljt mr'ii all over the. country are ! atly In faov of keeping it on Hie I liutc books. They declnr if is flip j ! rHnbl" procedure tbny have in en- ! rcing colI?clons rnul payment of r)-bP. ) ipre firms in separate states arc lu- . jved. Without such n law. it is raid j H creditor.. Peckinr ?n adjustment of ; lm?. would ha v to fltrht a different : tm of "i"-d tape" in every stale In the Ion, Kaeji siato would have a law of 'ev.ii poeinlnc bankruptcy and then )uld b- no hi iform bals of action, H 'dflared About flfiv ".finbeis of the association ire present at eslerday'e meeting. The i).Bnn7ek Ensravinp company was :il-II :il-II ed to membership. The hiislness ses-m ses-m Vi"?f p-cf d..fi fov a luncheon.