CHECK ON COMPANIES

Taranaki Daily News, 20 February 1935, Page 5

CHECK ON COMPANIES

SOME PROPOSALS CRITICISED. PUBLIC ACCOUNTANTS’ VIEWS. By Telegraph—Press Association. Auckland, Last Night. Criticism of some of the proposals contained in the report of the Company Promotion Commission was voiced at the convention of the -'iew Zealand Society of Accountants. Fears were expressed by some speakers that the recommendations indicated further interference with private enterprise. The subject was raised by a paper submitted by Mr. R. A. Glen, Wellington. He said the . recommendatir.. for the abolition of the bond system was one which should have their careful consideration. He was also apprehensive regarding the restrictions which might be imposed as the result of recent happenings on honest enterprise. Mr. W. R. Brown, Dunedin, said one wondered what the results would be if a corporate investments bureau were established at the present. There was too much interference with industrial and commercial companies. One wondered also what would be the position regarding purely speculative companies. He thought, however, the bureau would act as a check on unscrupulous promoters. Mr. G. J. • Feil, Wellington, said the findings of the commission might be said to ’ favour safety rathe-’ than enterprise. He thought it had been over-zealous and had made recommendations which in its calmer moments it would regret A whisper of such feelings had already reached him.