THE HIRE PURCHASE SYSTEM

Dominion, Volume 7, Issue 2175, 13 June 1914, Page 5

THE HIRE PURCHASE SYSTEM

ITS MERITS AND DEMERITS. (By Tclecraj>h.--Prcs« Aesodatton < ' Auckiand, Juno 12 The merits -awl demerits of the iiird purchase system ami ,fho- question ol' ilro compulsory registration of agreements ivero ,'igAiii ffebuaioil by'iho council bf ■ 11: d. Aurkland ;Ciiambor lijf Iroin tho Official Assignee in bankruptcy jit ren!,y to it communication from this .('vamlier was read. Jifc Fisher, in replying to 'objections tliat 'had boon raised against, i.lvc hijzgestcd compulsory rcgisli atkm of liii'e purchase agreements, shid llint if tlio present. oxjienso of resist ration (7 s. Cd.) was considered, it might;: lit) reduceti : 'to a nominal • amojint. As to tiio ■ objection. of .registration Bit tho ground of publicity, lie said that particulars Wfifb prfiJStccj only in tho ''Mrrcnniils Gazette," which was road almost cx- ■ chisivoly by business men. If the mcfl- ' euro. was ,necessary for public j>rotee- . tion undue- consideration -could not bo : given to /tliq 'feelings of ovcr-sons'itivo individuals. -Tho only people who had to fear publicity were those whos? ' financial position was so weak ilia', tltev X'tiuld ijjii obliiiii!: -goods' .tipQit cred.jj ; without giving ..security. If was (totibi- : ft)! whether (lie 'Jliro.'litjrelfßiSO . m nsr at all jwipuia.r except. with vendors, who, by it, secured tjm advantage of iliei'iig. ab'm to give credit; wislionf :ii>y risk Tho latest d.ovelopinent of l!in • system, Mr, Fisher said- s was in. connection villi jeivytjory, "I air. in< ; formed," .lie said, "I bat servant girls and youths in factories are being cafe vasscd to purchase _ gouds n'.ider this ■ ■ Ky'sjem." jit conclusion, the Official Assignee summed up object'ons to tlio : present, system as follow :-»"That it is i an infringement of the fundamental law• .■ of bankruptcy that at the thiin thai. ■■ 'a. jnijb' ,b'e : e'fliiic~S bankrupt tho whole of '■ Iris ssseis- shall bo. available fop equal distribution amongst his creditors.. (2) ■ .ft :is an iiicontivo to false trading lit ■ ill at it join Ms men to purehaso rhat- : teis wlie.il their fmanciat position does not warrant their w doing. (S) H pro-. vides fitrtlhev -.facilities for .e.muifii.tt|t^T. ; i fraud. G! j 'It pl.vrp.e one .portion of thu tr®il® : . , ah undue advjfytni^;. pvef tillS- MtllOE." The preside!*!, (Mr Dart Kent) said : that the. hire, puivita.se svstepi was a great convnicnce tfl. many people, .l.nd ■ ho instaneed the case, of F"wiii|.; maebines. and typeivriters. Such ar- ' • ticlis misrht he nernii'ted .to be pi:rcliaseS on ilte /iTie . purchase sysieni, withoub ro'/isiration. : If. was (isreici to defer eousidoralimi'of the .matter tiTt'ti- ; .next meotiii:;.

HOTELS & LIQUOR POLL

COUNTER HUM' BY'riII'V'TRADF."

« 'Cftr • "T.6l<j grr ■. ; ; Tiinycu, Jttnoi 1.2-. At tiio ir.aur,-rural meotmc of the Sintfii Canku'lutiy:CotCfcil- of. l/censed . Viotiiiilioi's,. anticipai'vi provisioiis of the new Liccusiii"; Bill wci:o tiisciisset;, : and several resotuti'on:; piifSOti: to;. b» ■ forwarded to tlio Covc-i mw-ni. a.s amendleents to tho Bill lesolntions .' um> that no n'teiatim! ho ma do ill t!io . majority nccessary to cany N'!ii|o!iat:. Prohibiiion-, as ''tfitiii ; tiiroe-:lif!hs miijor'ity could not coinmand tho Viicral .supjKi.rt of tlio people; lliitt tho tiin'o for givilij; effett, to local NoLieonse bo extended to the fiamo; period ■; as in tlio ease of National Prohibition } t,liat provision, should ho niado in tlio now B'll for tlio restoration of licenses ■ t<i hotels that have, lost, their licenses not on tiio voto of electors, but. throunh- ■ a Iteration, of cloctora'tti bounda.rio.s when ; as lias been t.he case .stielt hotels ■ -Woro■ acaiu .inchidcd ~i.n jx -iie.oi)ficd.,-itlie- ■: trict tlirouftli n siibEflquont al.t eratioli of limindaries,. that at least, fifty iKf ; cent, of licenses should be restored tit. N.o-liicetiso disi ricts, when, the No- ! Lieenso voto tlierein has fallen heio>v the ■ fhrco-flfths majority. '?• ' : . .Members, pointod o.ut. that ihe Prohi.bition vote in none of the South : island 'N(i-L'icenso' distriois 'had main. tained its flireitviiftlis majority, ; the. preseut stronetiis; show-ins t.liat ; ■tiiesb difiti ictf? liud . gono. l3ack>oii .wieiri first resolution, and were therefore .entitled to a mcipuro of licensing.