CASH-ORDER TRADING

Sun (Auckland), Volume III, Issue 624, 28 March 1929, Page 10

CASH-ORDER TRADING

INQUIRY COMPLETED

PRAISE FOR WITNESSES

(Australian and X.Z. P-tu * ’uL,; (United Ser.-icej Afte- having heard the evpd <Be « of nearly 30 witnesses—a aroe. number than has assembled in any other New Zealanc cent-*—tha Government commits on of inquiry into the cash order system of trsdl ing concluded its work yesterday.

The members of the commiselon Hon. J. G. Cobbe. Minister of IndiT tries and Commerce, and Mr. j w Collins, secretary" for the depart-neat will now prepare a report for subiniL sion to Cabinet.

Cross-examined yesterday, tha manager of a piano business said was not uneconomical to pay interest at the rate of 10 per cent.' for cash order service. Evidence was given by the repr*.

sentative of a company extending credit under a new system. No interest was charged, but clients wer» obliged to become shareholders a a< r deal with listed shopkeepers, who were also required tc have a financial terest in the company.

The Minister said that there had been a desire on the part of all witnesses to hide nothing iron: the coml mission, and the meet confidential m. formation had been given freely. The Minister will leave for the Sou'n to-day. and Mr. Collins will remain Auckland to make a further mvestia. tion into the financial side of the quesJ tion.