46 ARBITRATION CODE SUPPLEMENT

without a flaw but has been the subject for congratulation from winning and losing parties alike .

Members . To the members and contributors who , in the face of economic strain , have kept arbitration as a continuing obligation , is due the credit for making it possible for the Asso ciation to keep in circulation so much capital and merchandise that would otherwise have been involved in protracted litiga tion and to carry on its work without serious impairment in either volume or standards . Present business conditions have greatly increased the demand for the services of the Associa tion in adjudicating commercial difficulties . That it has been able to meet these demands and so greatly aid business is due to the continued support and interest of its members .

Staff . It is to the staff , however , which has carried out these plans with such ability , fidelity and disinterestedness , that the progress of arbitration owes most . Arbitration is a movement that requires the enthusiasm of youth and a vision of the future and these the staff possesses to a remarkable degree . It is a courageous and far - seeing small band of work ers , held together by a common ideal and a single purpose , tested in no small degree by the economic crisis which , not withstanding a greater volume of work , has carried forward arbitration on the same high standard with considerable sacri fices to themselves .

Chamber of Commerce of the State of New York . The Association , in completing the first period of its work , desires to pay an especial tribute to the Chamber of Commerce of the State of New York . Its traditions and history in maintaining the oldest arbitral tribunal in the United States have been both a guide and an inspiration to the new organization . Perhaps more than that , the Chamber had the vision and the ambition to carry forward the national development of arbitration , now entrusted to the Association . In turning over this ambition to the younger organization and in giving to it a constant support and advice , the Chamber has shown the spirit which makes for the greatness of American institutions .