CREDITMEN'S AIMS.

Auckland Star, Volume LXVI, Issue 186, 8 August 1935, Page 15

CREDITMEN'S AIMS.

OBJECTS OF MOVEMENT.

DEVELOPMENT OF CLUBS.

"Tho aims and objects of the creditmen's movement are really as wide as commerce itself," said Mr. J. A. C. Allum, retiring president of the Auckland Creditmen's Club, who is to be succeeded by Mr. T. U. Wells at the sixth annual meeting held in Milne and Choyee's reception hall yesterday. Mr. Allum spoke of the great development of the movement overseas, where it was universally accepted as a principle of business and had largely been the instrument of ameliorating the effects of the disastrous financial crash in the United States.

"We are reaching a position where credit insurance is a possible and almost certain development, thus limiting the previously unknown quantity of the inroads of bad debts on the gross profit earned by a business," continued Mr. Allum. "In these days the chicaner> and the financial misbehaviour of competing firms cannot be hidden for any considerable period, but surely becomes recorded in their general credit history and thus becomes available as preliminary knowledge against subsequent efforts to repeat the 'same old frame. , " As well as being an educative centre the club had been the means of establishing the recently-incorporated New Zealand Institute of Creditmen, which gave promise of becoming an effective factor in the future credit operations of the Dominion. Officers of the club were elected as follow.—President, Mr. T. U. Wells; vice-presidents, Messrs. J. E. Beachen, J. E. Connor, H. Duncan and W. H. V. Taine; honorary secretary, Mr. H. W. Dent; honorary' assistant secretary, Mr. H. W. Bullock; honorary treasurer, Mr. D. S. Cox; honorary solicitor, Mr. C. J. Tunks; honorary auditor, Mr. E. W. B. Herrick; musical director, Mr. F. M. Hills; executive committee, Messrs. E. Aldridsre, J. E. Beachen, G. R. Brookes, O. C. llaynes, C. J. Lovegrove and J. O. Kobertson; committee chairmen, Messrs. R. S. Abel (membership). W. Walker (reception), E. Aldridge (programme), and R. A. Aickin (institute library and journal committee).