BANK OF NEW SOUTH WALES

Ashburton Guardian, Volume VII, Issue 1909, 3 August 1888, Page 2

BANK OF NEW SOUTH WALES

OFFICIAL OPENING.

List evening a number of gentle- j mm mat m the new Bank of New South Wales btitldin? In Burnett street to take part m the i ftblal opening of tha looil branch of tlm banking ompany. Tables had been erected aoross and down the longth of the room, and Mr Jenkins, the local manager occuptei the chair, being supported on his right \,y the locU manager of the looal Union Bank Mr Shury, and Mr Hicks of the Bank of A.U3;ralasla. On the left; he was supported by His Worship the Mayor, Mr Harrison, while Mr D. Thomas occnpled the viceohalr, Among thoee present as representing all professions, business hou?ea and industries, were Mesira Ballock, T. ! MaOwon, Parnell, Robertp, Acorn, D. EL Brown, Smith, Oatbbertson, P. Williams, Radolph Frledlander, Reotail, , Twentyman, Dr Trevor, Dr Tweed, Curtis, Jameaoo, Roy E. A. Sco t, John Orr, Hugo Frlediandar, H. Zander, Kneeo, Clayton, Max Frledlander, Blssett, Pan', Ohrlfltie and others.'

After light refreshment, the Chairman proposed the toast of " The Qaaen " which was duly and loyally honored. Mr D^H. Brown In proponing buoobsb to '* The Commercial Interest " apoke briefly. He thought we she uld hope for better things and not think there was nothing m store for the oountry but depression.

Mr Twantyman responding on behalf of the toast, expressed his belief that with tho enoouragement given to the development of looal resources and to the establishment of looal Industries there was a brighter prospect before the colony than had been the oaae for some years Thb was particularly the case m regard to woollen faotorlee. When the K-Uapol Faotory was being mooted he waa the very first to offer support to It. Ha had all along taken a deep Interest In such manufactures as were likely to benefit the country. The produce being worked up m the district was a direct benefit to it. A oountry entirely devoted to agrlculturel and pastoral pursuits must to a great extant be a pauper one. Without expressing an opinion either m favor of Protection or Freetrade, he thought the step taken by the present Government regarding Oußtoms duties was m the right direction, though there were some which might be revis d with advantage.

Mr Purnell also replied m humorous terms to the Protection and Freetrade ideas, and thought that under Freetrade only would the commercial Interest flourish

Mr RestelJ proposed "Looal Industries." la a place like Ashbarton everyone, whether Freetrader or Protectionist, was doing his best to support looal industry. They had In the district a oheeoe factory, flour mills, woollen factory, and there were coal mines and stone quarries, etc, all of whloh brought money to the district for the produce sent away. The Mount Somers stone was now being largely aaed both m Melbourne and Sydney for building purposes, and thus it was that for suoh nraterlal outside money was earning to the district. The Woollen Factory had done no end of good. Instead of our wool going home It was worked up on the spot, and the money spent m wagea was thus circulated, and bencfi ted everyone m the town to a greater or lesser extent.

Mr Hugo Frledhnder replied to the toaat, and referred to the faot that, without being egotistical, be might say there waa not an industry whloh was likely to benefit the district but what had hU support. The faot thit-aboa* '£7ooo was spent In wagea at the Woollon factory every year wai a proof that it waa a benefit to the town, for be^ldss expending this amount looally the Company were doing well by it. The wool growers could dispose of their ollps looally, the oal industry was benefitted, and generally every effort was made to koep the tosrn m as prosperous a couditim as possible.

Mr Jameson also responded, and referred generally to looal Industrie?,

Mr Twentyman, m apeaking to the toast, showed how much better It was that manufactures should be carried on locally whenever there was a possibility of doing, Without the establishment of our woollen Industry the raw material was sent Home and worked up there, and then returned to us, and beßideß paying carriage both ways there we c import duties to be m9t. All this tjok money oat of the colony, whioh was now retained by operating on the raw material looally, and turning out a genuine article. He could say without fear of contradiction that the woollen goods made looally were superior to imported. They were all wool, and not a mixture. He thanked the gentlemen ffho had spoken for referring ao kindly to him and his connection with the local factory. The Chairman gave the toast " Our Landlord," Mr Bollock, and referred m felicitous teems terms to the business capacity and acumen of that gentleman, Mr Bullook suitably replied.

Mr Dt Thomas, proposed the toast of the evening, '• Sucoess to the Bank of New South Wales, and tho health of Mr Jenkins the local manager," (applause). He waß sure that m Mr Jenkins the Bank had a capable and shrewd officer and one who was likely to do well m the district, (applause). He (Mr Thomas) had dealings with the Bank of New South Wales for many years as well as his father before him. Mr Jenkins had only been a few months In the town but it could not bo denied that he had already shown a most lively interest In ita welfare. The toast was drunk with mnsloal honorß,

Mr Jenkins replied, thanking the Company for the kind way he had been referred to and the cordial manner m whloh the toasts had been honored. The Initial diffioultiea m opening the branoh had been overcome and they were now m their new commodious and substantial premises, He had to thank bis brother Bank officers for the kindly way m whloh they had received him when he came a stranger to the district. His reception bad been most cordial and they had received him not aa if he had been a rival, but aa if he had oome to give them Borne assistance. In large towns the friendly feeling between representatives of different Banks waß noticeable but this was due no doubt to Banking Institutes where bankers could meet and confer on points of interest to each other' both m a soolal and a business way, even if It were only to coafer as to putting on an extra one per cent on overdrafts (laughter). He trusted that the advent of hla Bank In the town would be taken as an Indication t&at the lutereats of the district were bo Important that there was room for four backing houseß in|the town and that he was prepared to assist m furthering those interests would go without saying. Even if a fifth bank wire to start operation! m tbe course of a year or two, he would be one of the first tj extend to ita representative the right hand of friendship. His Worah'p, the , M»yor, proposed 11 The other banks," to whloh Messrs Shury and Hloks suitably replied.

&The Rev E. A. Scott proposed " The agricultural and pastoral Interest," and spoke hopefully of the future of the farming interests and the good which was likely to follow the settlement of people upon land m suitable looslitleo.

Dr Trevor roplied on behalf of the firmer*. Wool, mutton, and wheat were advancing In prloe, and the hopes of farmers were correspondingly brighter. Mr Max Friedlander thought competition nmon? the banks would result In oheapar mouey bolng obtainable, and the farmers would benefit from that.

Mr Williams briefly proposed "The Presa." to which Messrs Christie, Biseett, and Paul replied, Tho latter m the course of his remarks referred to the progress which had characterised Aehburfcon m thg

deve'opment of loc.il industries and com* bated the statement tbat a purely agricul* tural country was a paupsr one. Mr Rudolf Friediander proposed " The Professions," and Dr Trevor, Mr Furnell, and Mr Jameson (for Rev Mr Scott), Mr Kneen and Air Clayton r3sponded, •Tho Ladies" fell to the Chairman's lot m the absence of Mr M'Owen and Mr Christie replied on their behalf.

A verss of '*• A uld Lang Syne" with the "National Anthem " to close broke up a moat friendly, social, and convivial meet*

Songs were given by M> ssrs D. Thomas, P. Williams, Koeen, Harrison, Ohriatie and Clayton at intervale between th« toasts.