H.B. CREDITORS’ ASSN.

Hawke's Bay Tribune, Volume XVII, Issue 212, 22 August 1927, Page 6

H.B. CREDITORS’ ASSN.

FOURTH ANNUAL MEETING. The fourth annual general meeting of the Hawke s Bay Creditors’ Association Limited was held in Napier on Mbnctay, loth inst- I here was a large attenuance 01 prominent members ot the business community of Hastings and Napier, who are members and suareholders ol the company. Mr. I’. E. Loach, the president, was in the chair, with Mr. 11. Waruell-johnson, vice-president, as vice-chairman. lhe baiance-sncet showed an increased nett pront over the previous year s workings, oi £lO4 Id/-. The president, in presenting the report, congratulated the blastings and Napier Executive Committees on the successful workings of the year, which amply justmed the company’s operations. Two thousand seven hundred and htty-six accounts of a total value of 4113,113 16, Z were handled, and £/,i92 i/8 actually recovered on behali ol members with a big further proportion m the process of collection. Since the company’s inception ,a total of 8936 accounts had been handed in for collection, representing a total value of £43,190 14/9. lhe cash actually received represented nearly twothirds of the total value, with more yet recoverable and considering the difficult times financially, the unemployment and general trade depression, represented a remarkably successful effort. The business of this community, he said, must of necessity be largely on a credit basis, and the stability of business rested to no small extent on the same control ot' this credit system. The work of the company, therefore, in assisting in this direction in checking indiscriminate credit and keeping as low as possible the percentage of accounts written off as bad debts, was in no small degree preventing the financial position from becoming too unsatisfactory. The maximum results, however, could be attained only by an increase of members and their whole-hearted co-operation. An interesting table was supplied comparing results obtained in various trades and professions. The directors reported that owing to a change of conditions the office of secretary and of solicitor were separated, Miss F, K. Moore being appointed as secretary, Mr, J. C. Kelly as assistant secretary, and Mr A. S. Tonkin as solicitor to the com. pany.

The activities of the company are being extended in the interests of the business community. An endeavour is being made to get some necessary amendments to existing Magistrate’s Court and judgment summons procedure effected, and representations have been made to the Hastings and Napier Chambers of Commerce and other organisations in Gisborne and New Plymouth, with the result that a series of remits is being submitted to the Associated Chambers of Commerce for consideration.

An endeavour also is being made to afford means to creditors in bankrupt estates of more protection in the way of enforcing the provisions of the Bankruptcy Act. Mr. Tonkin submitted the outline of a scheme

which received the approval of the meeting and which has been referred to a sub-committee for elaboration. The elections of officers was as follows:—Directors, Messrs- H. WardellJohnson, P. E. Loach, R. D. Sutherland, T. Rowe, J. Fairclough, E. T. Ingram and A. Giorgi; Napier committee, Messrs. Flack, Hercock, Fountain, Bestall, Nortlie, Peach. Munro, Player, Rogers, Paton; Has. tings committee, Messis. Michaelson, Nelson, Dysart. Rickard, Gebbie, Peters, Golding, Gigg, Carter, Tate and Harvey; auditor, Mr. R. D. Brown-