HIRE PURCHASING

Evening Star, Issue 19437, 21 December 1926, Page 11

HIRE PURCHASING

DISCUSSED BY COMMERCIAL INTERESTS UNLIMITED “ TICK ” OBTAINABLE. “ Anybody can run up unlimited ‘tick’ in this country and in this city,” stated Mr F. Tyson at last night’s meeting of the Council of the Dunedin Chamber of Commerce, which had a short discussion on the hire purchase system. Divergent views on the merits of the system were held by members. The New Zealand Master Grocers’ Federation wrote calling attention to the development of the system of selling goods on small deposits under the hire purchase. ' The Secretary (Mr Peter Hercus) said an acknowledgment of the circular had been forwarded, and the federation had been informed that in June last the chamber had passed a motion issuing a warning against the growing jpractico of purchasing luxuries on the hire-purchase system. “ I don’t think wo can do more than that,” said Mr H. C. Campbell (president), who did not favor the chamber adopting the federation’s suggestion to make a protest to the Government. ~ , Mr H. Halliday said any action by the chamber would be unwise. Hire purchasing was recognised all oyer the world, and he was one who did not say the, system was unfinancial. He had always maintained it was a good proposition for a working man to buy a piano on the hire system, and enjoy it while paying, instead of saving the required money for nearly a lifetime. , Mr Park: And ho wants a motor car, too. , , Mr Halliday: I agree that the system can be carried to the extreme, but it would be wrong to go to the Government. Mr Taylor said the council’s previous motion had referred to articles of rapidlv-decreasing value. Mr Tyson: It seems to me as if the Grocers’ Federation is looking after its own particular interests. Instead ot froing in for credit, they should a clhere to the strictly-cash system. Anybody can run up tick in this country and in this city. Mr Campbell : And they have no security either. 1 . No further action was taken.