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Evening Post, Volume CV, Issue 148, 23 June 1923, Page 8

The practice of people entering into business on their own account with very limited capital and not keeping proper books, was discussed at a meeting of creditors at Auckland on Wednesday afternoon. A creditor stated that he had been at several meetings lately where men who had - gone bankrupt had not kept proper books, and, therefore, could not 1 give their creditors a full explanation of their transactions. The Official Assignee, Mr. W. _S. Fisher, said that men commencing with small capital disorganised business. A man who tried to carry on on legitimate lines was continually faced with competition by these small people, and when they put in their tenders they found that men like the bankrupt in the case under review were a long way below them. The sound man could not compete against them, and there was always mischief being done besides loss to the people who gave these small men credit (reports the "Star"). It was a very serious problem, and it was a matter for consideration whether steps should not be taken to stamp out the practice. People should tint, tie ullowfid to think ihvy could do thai sort of thing, '