CASH AND CREDIT

Southland Times, Issue 19822, 19 March 1926, Page 6

CASH AND CREDIT

While it is true that modern business is based on credit, the stern fact remains that the higher one goes in business the greater the reliance put on credit, and from this fact may be deduced the important argument that as the magnitude of transactions decreases the need for operations on credit diminishes. At the Grocers’ Conference a discussion of some interest seems to have taken place on the question of sales on credit and the attitude of the Courts when the creditor sought to collect a bad debt. The summarised report of the addresses unfortunately gives only meagre information, and it is not quite clear what steps the speakers proposed to take to secure redress for their grievances. The law frowns gravely on anything suggestive of misrepresentation in securing credit, and it is right that fraud of this kind should be punished severely, but the Courts also know that in many cases little or no effort is made by traders to discover the actual financial position of those seeking credit. It is generally recognised that the credit system induces trade and that the trader is pleased to be able to use this system where he can, but the credit system carries with it certain risks, which the trader has to assume, particularly when the governing power, by which credit is granted or refused, is in his own hands. Mr Luxford, a delegate from Wanganui, evidently realised this fact, because his advice to the conference ran along the lines of limiting the time allowed for credit, so that accounts could never grow to large proportions, and certainly if such a system were adopted generally the position so far as the grocers and their customers are concerned would be greatly improved. The trader is in a difficult position. He knows that the credit system is part and parcel of the modern retail business, and to refuse it will often mean a loss of valuable trade, but if he makes a mistake and has to proceed to the Courts he finds the Magistrates demanding that the creditor shall show the debtor’s ability to pay before making an order against him. In other words, the Magistrate takes up the attitude that the trader gave credit and with it assumed certain risks, among them the debtor’s ability to pay. There are occasions, of course, when a clever judgment debtor is able to escape his deserts, and the retailer is righteously angry, but probably some modification in the direction suggested by Mr Luxford would provide the most effective solution for the problems raised by the grants of credit to customers.

Advertisements dealing with Tenders and Miscellaneous are to be found on Page 8. The Government Meteorologist last night issued the following weather forecast: — Present indications are for moderate to strong easterly winds backing to northerlies north of New Plymouth and Napier and westerlies to freshening northerlies elsewhere. Weather fair and warmer but cloudiness increasing especially in western districts. The barometer has a falling tendency. The directors of the Exhibition have decided to open the Exhibition on Good Friday. The Amusement Park will be closed.—Press Association. A call to a motor car which had accidentally burst into flames in Duke street was received by the Invercargill Fire Brigade at about midnight yesterday. By the time the brigade arrived on the scene the car was blazing fiercely, and as very little could be done to save it, it was reduced to wreckage in a short space of time. The cause of the outbreak was stated by the owner, Mr D. C. Burn, to be a sudden back-fire in the engine. The car, a Ford, was valued at £lOO and was insured for £4O. A Nelson Press Association message states that the conference of local bodies discussed yesterday the allocation of heavy traffic license fees and eventually agreed that after deducting 5 per cent, in accordance with the regulations that 15 per cent, be deducted from the balance and retained for distribution among city boroughs and town boards on arterial road mileage basis and that the remainder be divided proportionally among counties, boroughs and town boards according to the main highways mileage in counties and the mileage of main arterial roads in boroughs. “The people of Southland should be sufficiently interested in the forestry question,” was the remark passed by Mr W. McChesney at the monthly meeting of the Southland League last evening, when he made the suggestion that the League should appoint a committee to look after the interests of Southland in regard to afforestation matters and that steps should be taken to approach Southland members of Parliament in regard to the necessity of Southland’s cl urns being constantly kept before the authorities. After a brief discussion the suggestion was embodied in the form of a motion and was carried unanimously. Early yesterday morning a youth named Charles Hughes was arrested by Constable Miller at Gore on a charge of stealing the sum of £7 11/6 from the proceeds of the annual St. Patrick’s dance held in the Gore Town Hall the previous evening. The money was missed about midnight, inquiries leading the Dance Committee to suspect Hughes. Further inquiries by Constable Miller led to the arrest of Hughes, who appeared before Mr. J. A. S. Aitken at the Gore Police Court yesterday morning. On the application of Sergeant Tonkinson the accused was remanded until March 25, bail being allowed, self £5O, and one surety of £5O. “Speculation has ruined many business men who would have been wealthy if they had only confined themselves to their own concerns,” stated Mr A. R. Masters (Stratford) when sounding a note of warning to speculators in the course of his paper on “The Survival of the Fittest in Business,” read at the conference of the Master Grocers’ Federation, at Dunedin. When a man achieves success in his own line he is apt to think he can be equally successful in other vocations, and too often falls for the subtle flattery, of the company promoters. The trader’s money, very often cash that his own business can ill afford to lose, is dissipated or lost, and what is of even greater consequence, his time and attention are absorbed in trying to clean up hopeless concerns while the business to which he could devote the whole of his energies profitably is being neglected.” “I think the time is now opportune for this League to suggest that the question of a Greater Invercargill should be discussed,” said the president of the Southland League (Mr H. F. Drewe) at last night’s meeting of the executive. Mr Drewe further stated that at the present time both the Town Council and the Southland County Council were each proceeding along their own lines, with the result that in the years to come Invercargill was likely to be a patchwork city. He therefore believed that a great deal of good could be done by the League approaching the two bodies concerned and suggesting a conference so that the responsibilities of each could be coordinated for the welfare of the future Invercargill. Mr Drewe’s suggestion was heartily endorsed by the meeting, which authorised the calling of such a conference, a suggestion that the South Invercargill Council should also be included being approved.

Lighthouses, whether on islands or inland, seem to have an attraction for lizards, birds, and moths. Mr Samuel Hart, lately principal keeper at Pencarrow Lighthouse, states that he has seen lizards climb 50 feet up the lightning conductor at Cape Palliser light, and catch moths on the bars of the lantern. During his 38 years’ service as a keeper he has been able to send to an entomologist many different kinds of moths, some of which have found their way into the British Museum. On one occasion a frigate bird was caught by Mr Hart at, Farewell Spit Lighthouse, and subsequently Sir Walter Buller became its possessor. According to Mr Hart, only three or four frigate birds have been recorded in New Zealand, these having been visitors from the tropics. More birds strike island lighthouses than mainland towers, and of these the greater number are various species of petrel. Tuatara lizards have been seen by Mr Hart on The Brothers and East Cape Islands, and Mr Hart states that there are two species of lizards on Somes Island.

Buying Groceries. —Distance is no bar to prevent participation in the great advantage of buying from Baxter’s. Shop by post and save your money.—Advt.).

The wonderful value in Sealettes at Thomson and Beattie’s, also the big range, of the same make their selection the best' in Southland, long pile Coney finish in black, mole and brown, 50in., at .27/6. Silk Seal Plushette superior quality at 42/47/6 and 57/6 and our own linings are beyond compare. Fancy duchess satin 40in at 3/6 and bYoche art silk cashmere and polonaise at 4/11 and 6/6 per yard.—(Advt.)

Women drivers say, “ 'BIG TREE,’ please.” They appreciate the easy starting that “BIG TREE” MOTOR SPIRIT in the tank ensures.—(Advt.)

Those in quest of Easter Wedding Gifts will find a fine display of Silver Plate, Cutlery. High-class Chinaware, Cut Glass, Clocks, etc., at Rankin’s. These goods have been indented direct from leading manufacturers abroad, and each line is being sold at a low margin of profit. Shop this Easter with T. M. Rankin, Jeweller, Tay Street.—Advt.

Ladies, the Albion Salon have just opened a new range of Exquisite Evening and semi-Evening Frocks, all exclusive garments, . no two alike and in all the newest shades. You are Cordially Invited to Inspect this display. You will be pleased with the Variety and the Moderate Prices. The Albion Salon, Ist Floor Albion Buildings, Dee Street. ’Phone 1710, —W. F. Lewis (Manager).—Advt.

“Coughs in Summer must not un-watched go.’’—Styn. Coughs and colds often catch us unawares in the warm weather. Be armed against I these maladies with Barter’s Lung Pre- | server. “Baxter’s” is a reliable, remedy ' for summer chills, throat affections and influenza, being rich and penetrative. A dose in time invariably wards off the t trouble. “Baxter’s” is also a sterling tonic, enriching the blood and building up impoverished constitutions. Obtainable *at all , chemists or sto^s a ‘.boiilfirrAdyU