SOME BANKRUPTCY FIGURES

Wanganui Chronicle, Volume LXXXIII, Issue 19722, 13 December 1926, Page 8

SOME BANKRUPTCY FIGURES

An interesting table given in the Abstract of Statistics records the number of bankruptcies in the four chief centres of New Zealand during the thirteen months ended on October 31 last. Auckland had 326, Wellington 232, Christchurch 130 and Dunedin 66. Auckland and Wellington provided no less than 74 per cent, of the total bankruptcies of the four centres during the period. In Auckland’s favour it may be said that last October’s total was only 24 as against 36 in October, 1925, but in October of last year Wellington had only 13 bankruptcies and this year the October total was 28. Almost throughout this year the figures have been high in the two North Island centres.

The difference between Christchurch and Wellington is very considerable"! though in population there is not a great deal between them. Greater Auckland and Greater Wellington together have a population of 291,618, according to the last, census, while the South Island qjties account for 183,066. With about 61 per cent, of the population of the four centres the two in the North Island have 74 per cent, of the bankruptcies. It, would be interesting to know why. Dunedin of course is Scotch and cautious, and Christchurch also appears to be careful. Perhaps in the North Island credit is more easily obtained than it is in the South; certainly complaint is occasionally made in Auckland and Wellington that the credit system is being abused. It is only when the damage has been done that the bankruptcy records reveal the results. Then the loss falls on the solvent people. Unwarranted credit business is costly to the business community and to the customers who pay.