I think you will all agree with me that in the past, where there has [been a provision made with a jobber for a profit, there has been more or less anxiety on the part of some of the jobbers to divide that profit, with the idea of increasing sales, and, as I have looked upon the subject, the manufacturers have never before been in the position where they could go to the jobbing trade and absolutely enforce their system of rebates. We have all been called upon at times in the past his last two words "these ideas" which are changed to the word "sales" in this newspaper report as better expressive of the intended meaning.

Vice President Haines' call lor Mr. Coffin has been reduced to one descriptive line, bat the reply is given verbatim.

to sign agreements to uphold certain prices, male by the manufacturers, and we have all willingly gone into such agreements in good faith, but something has come up whereby a little inducement has been offered and, before a groat time had elapsed, it was quite general on the part of the trade to divide the rebate, and, before long, it amounted to nothing. Now, as I understand the matter, both these industries are conducted in such a manner that the manufacturers are in a position to absolutely enforce a price and hold jobbers strictly to the enforcement of that price. In other words, jobbers who agree to maintain the prices fixed by the manufacturers, under the penalty of having supplies cut off, can now be held rigidly to the enforcement of prices.

I hope that the committee which has been appointed tonight will present these facts to these manufacturers and use their utmost endeavors to have the provisions of same secured in such a way as to adequately compensate the jobbing trade for pushing sales.

Mr. Coffin, being called for, responded as follows: Mr. President and gentlemen: I have listened to the remarks of the president, and the advice that was given to him by some good friend not to talk too much. Why, it seems as though he bit my case. For the past year, or during the last season, it seems to have fallen upon me to present various subjects for disiussion, and to do more or less talking at these Club meetings, and I feel as though I ought to be excused. I feel confident that we have in our Club a number of gentlemen who are able to stand up here and present subjects for discussion much better than I have ever done in the past, but I think to-night we can congratulate ourselves upon the outlook for the future. I think I express the sentiment of every gentleman present when I say that we feel highly honored tonight by the presence of Hon. Judge Gresham. I think a few meetings of this kind, with guests that are so able, so competent to talk to 113 upon the subjects of the day, is what we need as business men, and the social feature of our Club meetings can go right along with it. We are learning together how to properly handle the subjects that should come before us. I cannot say very much tonight, Mr. President, after the eloquence we have listened to, but I will say this - that I had fully made up my mind to resign from the Committee on Entertainment, but we have started under such auspicious circumstances that I will try to do the best I can. I think, also, I express the sentiment of all the members when I say that we have listened with a great deal of pleasure to the remarks of Mr. Heath - that there are subjects for us to take up of vital importance - so that we can accomplish more the coming season than we did the past one. We surely accomplished something the past year, and we can accomplish

The call of several members for Mr.Wads-worth has a descriptive line substituted for it. Mr, Wadsworth's reply and the six paragraphs which follow on this page are the same in both reports.

After this, from the wording commencing with the request of the president for a rising vote of thanks, to the words which decided the adjournment, the reporter thought best to let a few final descriptive lines suffice.

These comparisons explain by exact illus" tration, the precise dif ferences between a verbatim report which an association desires for its own use, and what is known as a newspaper verbatim report. In the latter, unnecessary words are eliminated, sometimes entirely ignored; at other times have descriptive paragraphs substituted for them; while in still other instances occur descriptive paragraphs which do not relate to anything which has been said, but rather to surrounding circumstances, such as the opening paragraphs of this report indicate.

The newspaper report, nearly verbatim, requires some literary ability-the verbatim report, none. If the stenographer has the literary ability,he edits this himself; if not, the editor of the paper takes the verbatim transcription and cuts it up just as the report on pages 234 to 258 is shown to be reduced on these pages 261 to 270. Different editors may have different ideas sometimes respecting the condensation of certain paragraphs, and how much verbatim copy to use, but in the main the principle is the same the minor particulars being matters of individual judgment or choice.

a good deal more this year. I think, as Mr. Cox said, that we are to be congratulated upon the selection of our officers, and with the help of every member of the Club coming to our meetings regularly, it seems to me that the success of the Paint, Oil and Varnish Club is assured.

Mr. Wadsworth, in response to repeated calls, said-Mr. President: I have need to congratulate the Club upon the character of the new officers elected, and the way in which they have taken hold of business. I know that this Club can be made an instrument of a great deal of good in Chicago. The question has been raised as to whether the jobbers would stand by any agreement that they made in regard to prices in lard and oil. It was a very great surprise to me, and I think to all the members of the Boston Club, to see the way they have done it in Boston. I presume there has never been a case there where they have gone back upon their agreement, except through some misunderstanding, when first started. I know something can be done here, and if we all take hold and help our new officers we can make a success of this Club, and it will be a great thing for us, financially as well as socially. It is very much more agreeable for men in the same business to meet socially and for business purposes combined. It makes them feel more generous. We get acquainted with them and wo feel like living and letting live, and we can give quotations,after getting acquainted with our competitors, that we would not give otherwise. We feel they are pretty good fellows, after all, and we would rather take a good profit than a small one. I hope we will have a very successful year, that the Club membership may increase, and the interest be a benefit to all of us. (Applause.)

The Vice-President. - We would now like to hear from Mr. Pettet.

Mr. Pettet. - I move we adjourn.

Mr. President. - A motion to adjourn is always in order, but I don't see how you can get out of making a few remarks. We know you can write a good letter.

Mr. Pettet. - -Mr. President, I call for the question. The Vice-President. - -Speak on the Credit Bureau. Mr. Pettet. - As I understand it, the Credit Bureau is a close corporation. I hardly think it would be proper for me to talk about it before company. But, Mr. President, before the motion to adjourn prevails, I want to say a few words in reference to the distinguished general, the upright judge, who, though he may know nothing about the paint business, has earned our thanks by compelling the railroads to pay something for their paint. I move that arising vote of thanks be extended to Judge Gresham for his attendance here this evening.

The response was general, after which a vote of thanks was extended to the Entertainment Committee, and the Club adjourned.