CONDUCT OF CREDIT

New Zealand Herald, Volume LXXII, Issue 22205, 4 September 1935, Page 12

CONDUCT OF CREDIT

IMPORTANCE IN BUSINESS NECESSITY FOR KNOWLEDGE The increasing part, being played by credit in business was deait with by the president, Mr. H. W. Dent, at the annual meeting of the New Zealand Institute of Cmlitnien last night. Referring to the work of the institute, Mr. Dent f;aid he believed it to be, if not a totnl cure, nt any rate a very considerable • healing agent, of commerce's most devastating disease—the losses caused by loose creditgiving and in many cases ignorance of control procedure on the part of those in charge of this department. It had been said it was a p;reat pity that all business could not be done on strictly cash lines. This they all knew was an impossibility, because the est 'nate of the world' trading was:— Wholesale, 08 per cent credit; retail, 65 ner cent credit. The retiring officers of the institute were re-elected and the officers are:— President, Mr. H, \Y. Dent; vicepresident. Mr. F. G. Baskett: registrar and treasurer, Mr. H. W. Bullock; auditor. Mi', j. E. Connor: council, Messrs. H. A. Aickin, H. W. Bullock. C. F. Gnrratt, J. E. Beachen, XV. H. Fortune and P. Hall; executive committee, the president, vjcepresident and Messrs. Aickm. Bullock and Garrntt. The membership of the institute is 58,