PIG PURCHASES

Waikato Times, Volume 121, Issue 20261, 2 August 1937, Page 12

PIG PURCHASES

BY DEFERRED PAYMENTS.

NEW LINE OF BUSINESS. (Times Air Mail Service.) LONDON, July 4. The honesty of the British people has been responsible during the last ten years for the creation of an entirely new class of business. Not very long ago the system of purchasing by deferred payments was looked upon with some misgiving. Now it is an important part of business. Were it not for the extended credit j system in operation the British car i industry would be badly hit. The same applies very largely to the radio busi- j Statistics show that only one person in every 200 who enters into a hire- j purchase agreement fails to meet his , liabilities. Ten years ago a firm which now j ranks as one of the largest under- j takings in the country was started in j a modest way in one room by two re- , tired business men who, employed one j clerk. Branches Now. The two men decided to finance hire-purchase agreements. To-day that firm has 35 branches In the British Isles. Mr Percy Butler, the managing director of Messrs Bowmaker, Ltd., told the Sunday Express representative of the growth of the easy-pay-ment system. “ When I started to finance hirepurchase. agreements .ten years ago I was told that I was heading for ruin. ; “My argument then was that provided absolute fairness was insisted on in every agreement there would be no serious losses. “There is now no class of goods which cannot be purchased on extended payment conditions. Last year ! my firm financed the purchase of cars Ito the extent of £4,500,000. And we arc but one of many. “Hire-purchase terms are making it possible for BriWsh farmers to modernise their buildings. Install the latest machinery and restock their farms.’’ Here are some of the purchases that can be made by easy payments: Airplanes, machinery, boilers and furnaces, book-keeping machines, boots and shoes, printing and dental machinery, hotel equipment, power plants, sheep, cows, horses and pigs.