UNIVERSAL COUPONS

Taranaki Daily News, 19 February 1931, Page 7

UNIVERSAL COUPONS

DECISION NOT TO REDEEM KEEPING FAITH WITH CUSTOMERS,’ RETAILERS APPEAL TO MINISTER.' “That’this meeting of New Plymouth retailers, who have distributed Universal Coupons, supports the action of the Palmerston North retailers in requesting the Minister of Internal Affairs to take immediate action to protect the holders of coupons and prevent the distribution by the liquidator of the funds belonging to the coupon holders” was the text of a resolution passed at a wellattended meeting of retailers in New Plymouth yesterday. Copies will be forwarded to the Minister of Internal Affairs, the Hon. S. G. Smith (member for the district), and the Palmerston North Retailers’ Association. >

Some of the principal New Plymouth retailers who are handling the Universal Coupons, interviewed by a representative of the Taranaki Daily News, stated that they are determined to do their utmost to keep faith with their customers, and to that end they have obtained legal advice. When they first dealt in Universal Coupons .they made thorough inquiries as to their bona fides, and were assured that a trust fund had been established to safeguard coupon holders. Indeed, all their cheques, from the payment for the first lot of coupons, were made payable to a firm of public accountants in Auckland who, it was understood, held them in a trust fund. All the receipts came from this firm of accountants, and the retailers in distributing the coupons acted in good faith. ' The receipt of notification from Universal Distributors (in liquidation), as recently published in the Daily News, stating that owing to having been prosecuted for issuing and redeeming the Universal certificates the company could not issue or redeem any more, as it was forbidden by law, came as a bombshell, particularly in view of the fact that it had been decided by the Minister that the ban on the coupon system did not operate until next July. That notification was dated February 5. COUPONS SAID TO BE LEGAL. In a circular letter undated, but posted in an envelope stamped January 16, the company communicated with retailers as follows:—

Dear Sir, —As you are no doubt aware, there have been several published and personally stated rumours in circulation questioning the legality of Universal Certificates. But now that their legality has been established beyond dispute, we are making preparation (for a huge publicity campaign fo further popularise Universal Certificates. In connection with this move, we. will have to produce considerable extra quantities of certificates to cope with the tremendous public demand that will be created by this publicity campaign. Would you, therefore, kindly use the enclosed form to give us an idea of your probable requirements of Universal Certificates for the next three months? Your filling-in of this form does not commit you to take the quantity mentioned, but merely serves as a guide for us for ordering our new issue of certificates. Our slogan- in the past has been ■‘‘Save Universal Certificates.” At present time W’e are preparing fresh window signs which will be -available soon, worded with the key- -• note of our big publicity drive, “KEEP ON saving Universal Certificates.” ■ The enthusiastic letters we receive. daily from our numerous distributors telling of the increasing business and goodwill through the issue of Universal Certificates is ■ proof positive that this splendid system of producing and holding business is; here to stay. We know that your ■ support -of this system will result in big profit to you. • ’ . ' ■ Yours for Progress. - UNIVERSAL.DISTRIBUTORS, LTD. G. McLEAN, .. . Manager. P.S.—To, expedite all deliveries in future please communicate with Head Office, Auckland, only. 2000 RETAILERS INVOLVED? Accompanyirig this letter was a questionnaire and order form,'the object of the questionnaire being '“to enable us to cO-operate with approximately 2000 retailers throughout New Zealand using Universal Certificates.” At the very conservative estimate of £5 per .month, to each retailer, this would mean that during four months retailers throughout the Dominion would have purchased coupons to the value of £40,000. Two New Plymouth retailers who were seen yesterday stated that their purchases totalled £3O each, during the period mentioned, and another had purchased coupons to the value of £lOO. It seems, therefore, that £40,000 is a low estimate. Possibly the total would be over £50,000 during the time the system has been in operation, as in some towns it was established long before it was started in New, Plymouth. Probably comparatively few of the coupons issued have been redeemed, as the majority of customers who collect coupons aim at securing the higher-priced prizes, which, of course, entails the hoarding of the certificates.