The conclusions of the committee were as frequently distributed among the members of the Association.

Fourth: Then the questions of uniform catalogue and retail prices and terms of sale were taken up, with the result that for several years there was practical uniformity in these respects also among us.

The unanimity with which the various arrangements made in regard to prices, terms, and other conditions were lived up to was really remarkable. In fact, I cannot recall an instance in any particular where an agreement entered into was intentionally broken. This happy state of things continued in Boston for some years, when the position of two of the members, through causes foreign to the seed trade per se, led to the abandonment of the Association, but the good seed planted by this local Association produced permanent results inasmuch as the lessons then learned were appreciated and have been remembered, so that the seedsmen of Boston today are a friendly, reasonable, and harmonious body.

On the 14th of June, 1893, the New England Iron & Hardware Association was established, and, as we shall see later, it became advisable to incorporate the association that act was accomplished under the laws of the state of Massachusetts in 1894.

The beginning was small and the membership confined principally to Boston houss dealing in shelf and heavy hardware; the growth, however, was rapid, and today we have a membership of 100 houses, representing a capital, if we include The Carnegie Co. and The Cambria Steel and Iron Co., both of whom are members, of over two thousand millions of dollars.

The members, or rather stockholders, comprise practically all the prominent wholesale and jobbing houses dealing in shelf hardware, heavy hardware, agricultural implements, metals, iron and steel, woodenware, paints, and oils in New England.

You can readily see what a power for good and for the uplifting of these lines of trade this Association is; yet, strange as it may appear to you, the thought of it originated in the little association of Boston seedmen organized ten years before.

In fact, the New England Iron & Hardware Association and the Wholesale Seedsmen's League are operated identically on the same social, protective, and beneficial lines as constituted the principal features of the Boston Seedsmen's Association, modified, enlarged, improved as experience and conditions demanded.

For instance, the social feature is a strong one in the New England Iron & Hardware Association; witness Article 11 of its by-laws that reads as follows:

"Article 11.

Monthly meetings of the stockholders shall be held during the third week of each month, at which meeting the stockholders, or their representatives, shall dine together. The cost of such dinner shall not exceed two dollars ($2.00) per plate on all ordi

nary occasions; and each stockholder shall be entitled to participate in such dinner at the expense of the treasury."

In this respect the Wholesale Seedsmen's League is at a disadvantage, for its members are scattered from Maine to California, and it is physically impossible for them to meet and dine together frequently, as is comparatively easy for the members of the New England Iron & Hardware Association to do. The same is unfortunately true of the American Seed Trade Association.

I use the word "unfortunately" advisedly, for nothing has been found that tends to harmony and the improvement of trade conditions generally as does the mutual respect for and confidence in each other which obtains when men meet together socially and get their legs under the mahogany.

The Wholesale Seedsmen's League is a little better off in this respect than the American Seed Trade Association, for its directorate meets several times during the year in the course of its business and lunches together, all expenses of travel as well as entertainment, however, being borne equally by the individual directors.

The beneficial idea is evidenced in the by-laws of the Wholesale Seedsmen's League through its preamble; as follows:

Wholesale Seedsmen's League. The object of this corporation is to aid in the technical, commercial, and financial interests of the wholesale seed trade; the particular lines of work being determined at the meetings of the stockholders or at any of the directors' meetings, as the prevailing conditions of the seed trade interests may dictate."

And more specifically in the rule for its board of directors covering the committee on customs, prices, and terms, viz.:

"Customs, Prices, and Terms. It shall be the duty of said committee to consider the establishment of uniform customs, prices, and terms in the trade, and such other matters as said committee may deem of interest to said trade, and report their conclusions and recommendations to the board of directors of the corporation. Said committee shall also have power to investigate and hear all complaints for breach of any agreements, rules, or understandings in the trade, and report thereon to the board of directors."

It is seen in the duty of each trade committee of the New England Iron & Hardware Association; for example, the rule for the shelf hardware committee reads as follows, viz.:

Article 30. It shall be the duty of said committee to consider the establishment of uniform prices and customs in the shelf hardware trade, and kindred lines, not otherwise provided for, and such other matters as said committee may deem of interest to said trade; and report their conclusions and recommendations to the stockholders and associate members of the Association dealing in shelf hardware and kindred lines. Said committee shall also have power to investigate and hear all complaints for breach of any of the agreements,

rules, or understandings in the shelf hardware trade and kindred lines; and report thereon to the stockholders and associate members of said Association dealing in shelf hardware and kindred lines.

And this is the type of each of its other trade committees. Protection, and benefit as well, is provided for in the same manner in both Associations through their bureaus of credit, which are identical. The operation of these bureaus will be readily understood after reading Article 14 of the by-laws of the Wholesale Seedsmen's League and Article 22 of its rules for directors:

Article 14. It shall be the duty of the stockholders to report all debtors as Delinquents" who shall fail to settle their accounts within a reasonable time after demand, or when the debtor shall have been refused credit; and as "Unworthy" all persons obtaining goods through fraud or any improper means; and as "Undesirable all persons habitually making claims for allowances, generally failing to keep their agreements, and slow in payment; and no stockholder shall sell on credit to any person reported by the corporation through its bureau Delinquent" or Unworthy."

Article 22. First. Said committee shall have jurisdiction of all matters of claims by and debts due to the stockholders of the corporation, when referred to this corporation; and its decision thereon shall be final and binding upon the stockholders.

Second. Of all matters affecting delinquent debtors referred to the corporation by any stockholder; to classify said debtors, and in the name of this corporation send delinquent debtor notices and demand letters when requested by a stockholder; and to take such other steps in reference to said claims, debts, and debtors as to said committee may seem advisable.

Third. To report to the stockholders all delinquent debtors referred to the corporation who do not settle their accounts, claims, or debts within ten days after notification.

Fourth. To cause to be kept on the books of the corporation, under the heading Undesirable," the names of all persons reported by any stockholder as slow in paying, habitually making claims for allowance, and generally failing to keep their agreements; and also to be kept on said books under the heading "Unworthy," the names of all persons reported by stockholders as obtaining goods or credit through fraud or improper means; and also on said books, under the heading "Delinquent," the names of all persons reported by any stockholder whose account is not settled within ten days from demand by the corporation; and to send a list of said names to each stockholder of record weekly.

Fifth. To receive and hear all complaints against stockholders for any breach of the by-laws as to the duty of stockholders in respect to undesirable customers and delinquent and unworthy debtors; and to report its decision thereon to the stockholders of record when deemed advisable.

The value of the Bureau of Credit to stockholders is seen from the report of this department of the New England Iron & Hardware Association last year. It shows that $32,000 were collected through its "Demand Letter" alone, at an expense of only $800 to

the stockholders to whom the claims belonged, and $17,000 through its attorney's department, on which only nominal fees were paid.

The Bureau of Credit in each Association constitutes a complete mercantile and collection agency and to successfully and legally conduct it incorporation is necessary, as was soon found to be the case in the New England Iron & Hardware Association, which organization was not originally incorporated.

This feature, with others that exist in the American Seed Trade Association, such as the lack of an organized office with suitable working force, adequate annual dues, and without other branches of work to warrant the establishment of such an office and the necessary expenditure of money to support it, makes the subject "A Seedsman's Collection Bureau" in connection with the American Seed Trade Association a difficult one to write about, but I think the difficulties that exist can be overcome in a very simple manner.

In regard to the collection of the overdue accounts of the members of the American Seed Trade Association and the general prevention of bad debts, I recommend that the American Seed Trade Association as a body purchase a share of the capital stock of the Wholesale Seedsmen's League and thereby enable the members of the former to send their overdue accounts to the Bureau of Credit of the latter. In this way the members of the American Seed Trade Association can take advantage of the unique demand letter of the Wholesale Seedsmen's League and of the complete collection and information system of its Incorporated Mercantile and Collection Agency at a minimum cost to themselves, for collections made by means of the demand letter cost the creditor only 21⁄2 per cent. of the amount collected, while the collections made through the attorney's department of the Bureau of Credit of the League cost no more than is charged by any reputable collection agency.

As anything that tends to aid and improve the condition of the seed trade, taken as a whole, is of material interest to the members of the Wholesale Seedsmen's League, I think I can safely promise that the League would be willing to enter into such an arrangement as I have outlined above.

Remembering the pleasure and lasting benefit derived through the association of the seedsmen of Boston, I would strongly recommend for the improvement of the seed trade that in places where there are two or more seedsmen, an association be formed on the lines of the Boston Seedsmen's Association for social, protective, and beneficial purposes. Both retail and wholesale dealers can belong to an organization of this kind and participate properly and with profit in its deliberations, provided, of course, the matter of regulating wholesale prices is not undertaken.

And now, gentlemen, I have to thank you for the courtesy of your attention. I regret that I have not been able to prepare a more

interesting or more satisfactory paper on the subject assigned me. I do believe, however, that such an arrangement with the Wholesale Seedsmen's League as I have indicated, for the use of its Bureau of Credit, provides a simple, practical, and complete method for the collection of the overdue accounts of the members of the American Seed Trade Association and the prevention in the largest degree possible, of their bad debts.

For the suggestion of local associations among seedsmen for social, beneficial, and protective purposes, I crave your careful consideration. It is practical, useful, and will add to the happiness of the hard worked and oftentimes, alas, indifferently paid seedsman.

Through mutual respect for and mutual confidence in each other, together with the interest and emulation bred when bright men associate, only will be produced, I believe, seeds of the best quality, most absolute purity, and highest germination; and there will also result the dignified methods and relations between grower, jobber, and consumer under which so eminently a respectable business should be conducted.

The accomplishment of these ends should be the aim of every seedsman who loves his business, nature, and his fellow man, and what vocation is worthy of more regard, more intelligence, and a fairer return for the labor connected with it than the seedsmen's, the product of whose goods is the foundation of all real prosperity?

THE PRESIDENT - You will notice that Mr. Breck makes one recommendation that it seems to me should be acted upon either favorably or unfavorably. The suggestion is that this American Seed Trade Association as a body subscribe and become the owners of one share of stock in the Wholesale Seedsmen's League, in order that it may be entitled to the services of this collection agency.

MR. WOOD - Mr. President, I move that that matter be referred to such committee as the Chair may select, for proper recommendation to the members of the Association.

THE PRESIDENT - I have not a list of the committees here. We have no committee on finance, but I would suggest that it go to the executive committee.

MR. STOKES Mr. President, I would just like to say in this connection that the firm of which I am a member has been using the Collection Bureau of the Wholesale Seedsmen's League in the way that has been recommended by Mr. Breck, to our very great satisfaction. We have had a very large experience with collection agencies of various kinds, and I think I can say, without any qualification, that this Collec