Indianapolis Times, Volume 37, Number 10, Indianapolis, Marion County, 22 May 1925 — Page 19

FRIDAY, MAY 22,1925

BUREAU CITES WAY TO CHECK , CREUIT FRAUDS Losses Average $18.50 Per Family, Letter-Bulletin Issued Shows. Indianapolis business men bankers and credit men have -een supplied by the America . Intitute of Accountants, with copies of a letterbulletin on “Credit Frauds,” just issued by the Bureau of Public Affairs of the Institute, which describes the methods used to fleece business men out of $250,000,000 a year, and suggests ways of stopping this costly leak. Several Federal judges and other Government officials contributed prepared statements to the accountants’ letter-bulletin. A section is devoted to proposed amendments to the bankruptcy law and its administration. Enactment of uniform laws in the various States against the making of false financial statements te urged. $18.15 a Family Credit frauds amount to about $18.15 a family, based on the estimate of $400,000,000 a year of credit losses, made by the credit men themselves. Three stages in the progression of Btredit frauds are described —misrepresentation by which credit is obtained, diversion of assets, and finally, bankruptcy. Business men are warned to be on the lookout against: Forged certificates of accountants: financial statements “certified” by persons having no standing as accountants, or who may be working in collusion with credit criminals: misstatements of volume of business immediately in sight; negotiable instruments that are forged, altered, or borrowed; persons masquerading under the names of responsible individuals; overstatement. s os the value of one or more asset items; understatement or omission of one or more of the classes of liabilities; submission of Incorrect figures as to ne* profits, or as to sales, expenses or other profit and loss elements; those who build a line of credit for the deliberate purpose of obtaining further credit for fraudulent purposes. Examples Given Examples are given of the rules by which merchandise is spirited

MUir* Q h o ki ' ■_ T-E-N-T-S A MP M Plm ’d- i C JT"" l "' l " ll * P W m 77 Auto Touring...sll.9s 7x9 Wall Tent. $15.75 f L. tachedsl*39 Hhj qt Bis 7x9 Airto Touring... $16.50 Bxlo Wall Tents.... $16.95 \ J %> jrm<r*,m Jmf es HP 5x7 Wall Tents $6.90 9y 2 x12 Wall Tents.s24.so i R^ Ut jj h gg Km 16x16 Govt. Pyramid Tents $30.00 Ira Breeches W ArmyßusSetß , B Fr xroc 1 Toilet ■ Jfl gT B °y* Wh Reg. *o qq M a uanvas B ■ icout - ft# ST29 8 ’ #1 $5.5050.00 W Gloves | ralln °* pj L, y> I Knives . *“ j|f "*‘s3 88ffi * 6c ■ scßar ■ 98c ■ J ■r . Ih£*L VAS W lU Pnm . 9r £ HOUSE PAINT H CO TS t J L Underwear HI Thix u *nnrnn- ■&§? ffl +ii A f Athletic Union Suits, JA BB iTl*t? that wm do I yA| Slightly Used $1 Value 49c vV do. All j **GU<St 1 d* JC Navy ShirU Drawer., J J PAINT Regular ... t” 89c Gasoline Stoves M u-h 11 * 00 " 1 * 'EL'&I IK-So. Illinois Str~tla^v4

away and disposed of at low prices by “fences,” or by cut price sales, or by wholesale houses in collusion with the credit criminals. Remedies are available under the uniform sales act, the bulk sales law, the consignment method of selling goods, and thq. right to stop merchandise in transit. Bankruptcy is described as the third stage, the salvaging process. Proposed amendments to the bankrupts law and improvements in its administration are reviewed. Acceptance of compositions is pointed to as an evil. Punishment of those guilty of diverting or concealing assets is asked. Other recommendations: Failure to keep boots should be made a prima facie evidence of fraud; a bankrupt should be under obligation to substantiate from his books that his losses were legitimately inc urred, and that his inability to do so should conclusively prove fraud. Copies of the letter-bulletin may be had from local accountants and bankers or from the American Institute of Accounts, New York.

NEW EESI6N AMES SEDAN DODV (B \ for FORDS BODIES, $385.00 DELIVERED PRICES CAR COMPLETE, $713.97 You Have a Good Chassis, We Have the Body

FOUR large doors that open wide, large windows equipped with mechanical window lifts and anti-rattlers; all windows can be lowered. Large, roomy body giving plenty of room for five people. The distinctive nickel-plated radiator shell, the engine hood and hood fasteners, linoleum covered running boards, mahogany fin-

SWISSHELM & PARKER 544 EAST WASHINGTON STREET

ACCIDENTS LOW COMPARED WITH AUTO INCREASE Drive Scheduled for June 1 to Cut Losses Still Farther. * Bu United Prees CHICAGO, May 22.—Year by year the casualty rate at railway crossings is being reduced in proportion to the number of motor vehicles in use, figures made public at the meeting of the Safety Section of the American Railway Association showed. A campaign to start June 1 and continue until Sep f . 30. the period of heaviest n otor traffic, is

ished instrument board, dome light. Yale lock and latches on doors, raar vision mirror, rear curtains, robe rail, front and rear carpet; latest style windshield, oversized gas tank, sun visor, Stewart Vacuum system and peclal tire carrier make this job the most attractive and convenient body for Fords ever built. You must see it to appreciate it. It is something new and classy.

THE INDIANAPOLIS TIMES

scheduled for 1925 to further reduce the ratio. One in 6,043 Cars "In 1921,” according to the statement, “there was one casualty for every 4,397 motor vehicles registered. In 1922 for every 4,646 and in 1923 for every 5.029. In 1924 after a similar campaign the proportion was one accident to every 6,043 vehicles. “Despite the increase in the number of automobiles this year it is expected that the casualty rate this year will show a much greater improvement than in 1924.” Poster Advertising A poster, designed by H. Day Dowry, Richmond, Va., is to be one of the advertisements to be used in the 1925 attempt to reduce accidents. It portrays a dramatic picture of an automobile racing a train to a crossing. Platform and radio speakers will be enlisted to aid in the work symbolized by the crossing sign: Railway Grossing! Stop! Look! Listen!"

RELIABLE FURNITURE COMPANY, 32, Si, 36 SOUTH ILLINOIS STREET

27th Annual Spring Sale —Use Your Credit to Buy These Great Values

Kroehler Bed Davenport Suite at a Real Saving Three practical pieces to add anew usefulness to the living room of your home. Bed daven- mmy port, chair and rocker in mahogany finished frames with imitation leather upholstering. J m M fkfi Only through the enormous buying power of our 26 stores are we able to offer this suite at f _* such an amazingly low price . y

Three-Piece Living Room Suite At an Amazingly Low Price Here's another remarkable value in our Annual Spring Sale—a splendid three-piece fiber living CJr \ M 7C room suite with cretonne covered cushions. Come in • # </ tomorrow and' see this suite. For Saturday at the B, J amazingly low price of • No Added Cost for Liberal Credit

Special Console Phonograph and Radio Cabinet No home Is complete ; j without a good phono- f 1 ’■ 'V |NY\\ vM \ / two-wat// graph with a large com- COMPARTMENT \H\l\ Mi A 1 aaoio fj partment for your radio POK \ \ set No alterations are KADIO yA \ necessary. Ample room llli for all yor.r batteries. At the special low price of — '"Nut m rR/l -M,, fj Two-Tone SI.OO a Week |

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Liberal Credit to Everyone Use Your Credit

Sale of Genuine 1 Kroehler SUITES i Now a greater opportunity than ever before is offered : you to save money on a genuine Kroehler 3-piece over--1 stuffed bed davenport suite. This suite, as shown, Is covever in attractive velour. For Saturday we are featuring it | at the low price of— S l3 Liberal Terms

O— ————— O GIBSON Top-Lift Top-llft style' GIB- . SON refrigerator In ( T 71? golden oak. Galvan- *P t M • • lzed Interior. At the A A. ■ ■■" ■■ amazingly low price O — ° Every home should have - one of these fine fiber O/m QC rockers In baronial brown Z. finish. The price assures _X. ” real value. 0 Three-blade guaranteed - mmt lawn mower. It's easy X # running. At the low price r . f of—

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Valuable Premiums Given With Any Purchase of $25 or More