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OF THE

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MY FELLOW REFEREE:

It is with a great deal of pleasure that I say a personal word as this Report of the Proceedings of our Conference goes out to you.

The record of this important meeting will, I know, interest you at once. Aside from any connection which you or I may have had with this Conference, this record would immediately challenge our attention. It is more than the collection of printed pages, than the report of addresses, splendid and illuminating as they are, - it marks an important step in the movement to improve bankruptcy administration and to raise the standard of bankruptcy practice.

Much has already been accomplished in this great movement. Our Federal Judges, under the leadership of Chief Justice Taft, have taken a deep interest in the matter and, as you know, about a year ago promulgated the new General Orders. Numerous organizations, including the American Bar Association, the National Association of Credit Men, the Commercial Law League and others, have co-operated to help bring about the much needed and salutary amendments to the Bankruptcy Act which have just taken effect. It is now certainly “up to us,” as the active administrators of the Bankruptcy Act, to do everything within our power to assist in carrying on the good work already so well begun.

The conditions certainly demand thoughtful consideration and the active effort of every Referee. With nearly 45,000 bankruptcy cases each year and total liabilities of three-quarters of a billion dollars with less than a 10% return to general creditors, we have a terrific economic waste thal, were it to occur at one time or in one place, such as the wrecking of a big business institution or something of that kind, would startle the entire country.

We cannot close our eyes to this situation and go along in the ordinary routine' as heretofore. We have got to do something about it, we must be "up and doing” and lend our aid towards the solution of the problems which are confronting us.

As an Association, we have made a splendid beginning, a workable and working organization has been formed, a plan of action laid out, and every Referee in the country, who is in the least interested in his work, should give this movement his most cordial and active support. In reading these pages I know you will have in mind the time and effort which have already been given to the work of our Asociation by the officers and directors; that you will see in the National Association of Referees a progressive step looking to future development, and that you will feel impelled to do everything you possibly can to make it the success which it deserves to be. With kindest personal regards, I remain

Sincerely yours,

Panesthing

Dated at Detroit, Michigan,
December 29th, 1926.

PAUL H. KING,

President.

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