BANK CONTRIBUTIONS TO WAR FUNDS

Dominion, Volume 8, Issue 2567, 15 September 1915, Page 3

BANK CONTRIBUTIONS TO WAR FUNDS

AN OFFICIAL STATEMENT. A Dunedin telegram published yesterday contained a complaint made by Mr. J.: A. Johnstone, chairman of the Otago Patriotic Association, regarding the amount of ' contributions made by the various banks' to the patriotic funds. •Mr. Johnstone said that he'had called on the banks in Wellington to seek assistance for the'Otago Patriotic Fund, and found that they had decided to contribute to the National Fund. He held that their contributions were inadequate. .

This matter was referred to the banks concerned yesterday, • and a general statement was made ,to a Dominion reporter; It was pointed out that the controllers of the banks were of opinion that any contributions should be to a National Fund, • and not' to a district one, mit at the same time the main point was that the executive officers of the banks-could not pay undue amounts without consulting the shareholders. - It'was-not fair for the directors or anyone else to pay too much without consulting the shareholders. Further the banks were giving all their/ officers who applied leave to go to the front and were keeping their places open for them. About twenty-five per cent, of the original staffs of the banks had gone, and all those men were having half-jjay at least made up to them, and if they were entitled to any increases while away they got the ' in- | creases just the' same as if they were working. .:®ose-yajarit positions were being filled up as far as possible in the meantime, so the banks were not making any saving on, their staffs. This was a heavy item, and it was a growing item; for every day: the banks were getting applications from men anxious to leav'e. :

The banks are doing their share in various , ways. 'Some. of. them have taken up a million pounds in the British War' Loan, and others have taken, a quarter of a million in the Australian War Loan. The taxing proposals of the Government' will also hit the banks, but they are prepared to pay cheerfully.