ABUSE OF CREDIT

Hawke's Bay Herald-Tribune, Volume 81, Issue 57, 30 November 1937, Page 4

ABUSE OF CREDIT

"Credit to-day is a very differeiifc Ihing from whafc it tised to be in the o d days," said Mr A. J". Hutckinson, the chairman of directors of the New Zealand National Creditman's Association (Auckland), Ltd., at a luncheon meeting of the Auckland Creditmen's Club. 4'It used to be almost an entirely personal affair a few years ago, but credit is uow very much a study and a business. I am sorry to say thero is not very much honour in credit transactions nowadays," Mr Hutchinson continued. "There is always someone out to beat others, and perhaps, after paying 5/- in the £, will start in business soon aftorward. Bankruptcy in the past was a shameful matter, but noW5 we find men who are proud of getting away with it time and again." Mr Hutchinson went on to refer to the various methods of handling credit which were unknown some years ago. He also spoke of the deliberate practice '4of some porsons who maintained a good reputation with one or two firms for the purpose of obtaining credit from others." "Tho sooner creditmen get together and put a stop to the systems vhich have Iariseu, the better it will be for businesB aud buttness prestige^" Mr ^H^tghinson concla^e^