THE BANK TENDERS.

Clutha Leader, Volume III, Issue 135, 9 February 1877, Page 5

THE BANK TENDERS.

TO THE EDITOR. Sir, — The tenders of the Bank managers here for the County account published by you last week, have I believe proved both interesting and instructive to the community. With a good many the impression prevails that in matters of overdrafts, discounts, interest, exchange, &c, the Banks have it all their own way — that they have a fixed charge, which is the same to all and from which no abatement need be asked. The tenders published reveal the fact that such an impiession is an erroneous one • that no rule exists in the matter, aud that like other mercantile houses the banks are always open to make "an arrangement" to secure business, and sometimes a veiy favourable arrangement too. There are some accounts which the banks regard as good, as pkely to bring much grist to the melting mill, and they therefore will strain a point to get hold of these. There are others placed on the doubtful list, and these, I suppose, are not eagerly sought after. From the mythical nature of the County account, and the extreme improbability of it ever including anything in the discount department, one uninitiated in the mysteries of banking would naturally suppose bankers would be ssmewhat indifferent regarding it, and place it on the doubtful list. The tenders, however, tell a different tale, showing aa they do that even for a mere nominal account the bankers are ready to treat upon the most liberal terms. Seeing that such is the case regarding au account that is not likely ever to have a place in the bank's ledger, what terms would they not give in the case of a large and prosperous business ? A recourse to the system of tenders would show, and would perhaps open the eyes of many in the community to advantages of which they were not previously aware. Meantime I have no doubt Mr M'Neil has done the public some service by pubiisbing the tenders for the County Bank Account.— l am, &c, North.