Commercial Morality in Christchurch.

Star (Christchurch), Issue 4786, 1 September 1883, Page 3

Commercial Morality in Christchurch.

* The following artiole it reprinted from the Canterbury Timtt of thia morning:— Newspaper Companies go imuh just like other Companies. That it bat human. Newspaper Companies, when oompoßed of influential and wealthy citizens who have started their conoern out of pure public spirit to supply Mine long f#lt public' want, whose newspaper career, though brief, has been one long vaunting of the nobility of soul, independence of judgment, and unselfiah devotion of the owners, even such newspaper companies after a smash t&ke the benefit of the Limited Liability Aot to dishonour their Bills ; even when the bills represent the value of goods that they have sold to other people. This is, we fear, also but human. The late Telegraph Newspaper Company of Ohristohuroh seems to bave been very human, if we may judge by the reports of the proceedings in the JB. M. Court published during the week. The dishonoured bills to Miles and Co. for paper sold to the Prett Company, are a sad commentary on the glorious pleas which the Teltgraph addressed to the publio for support during the days when it claimed to be run by men superior unto all other men. Let us look closely into this transaction. The liquidators of the Telegraph Company, who dishonoured the bill for the paper, »nd offered Miles and Co. a composition of 15s in the pound, beoame possessed of the larger proportion of the shares «n the Prtss Company, to whom they sold the paper. Having liquidated the paper to themselves (and other*), they bring an action against Miles and 00. for the paper for whioh they won't pay full value. This if uncommonly sharp practice. If men of less renown, and less means had strayed into suoh a mess by foroe of circumstances over which they had no control, they would, in all probability, have found themselves in Que«r street. But commercial morality draws lines in curious places. .