N.Z. BANK CONTROL

Hokitika Guardian, 26 May 1933, Page 5

N.Z. BANK CONTROL

BANKERS KEPLY TO RUSH WORTH’S CRITICISM. (Per Press Asiocitition ~-P<>pyright.' t WELLINGTON, May 25. .’Bankerjg ’here ate disinclined to, comment •on tjie ci'iticisjm, of: the Government’s Reserve;; Bank ,Bflj made by Mr Rushworth, M.P., at Auckland Provincial Farmers’ Cpnfev.cnce At Whangarei. • ■ 'v

One leading bank manager, however, . remarked that j|lr < -Rushworth was wide. of the mark - in; inferring that the Government’s -, proposals . were , "part of Aa gjDstly icpngpitUcy v : to transfer- the control of ; - Zealand ■ first to the Bank.’cif? New Zealand,; and . then to -the . Bahk ’ of International {Settlements. I’ , The} manager, . s’! id the • Bank of New, nothing whatever to 'dpv-'.jfitji the} Government’s proposals-in regard, to Baiik. , When Mr RusWoriliti.- referred, to .the Brink of; Aft Adoubtless meant, the Reserve. Bank .of New Zealand, the establishment of which was . recommended by .Sir Otto;Niern.ey*r. ■ / INTEREST ON 'NEW ZEALAND ’ ' 10 - iXS ’ . ui ’ ' LCNDON;^Mav v 34.." .The “Dally ‘Mail s’’ o>ty}} pcfTJSr 3 *" says : English' investors }in T“ Zealand loans.- are. - aAYkwardly :pi»ced, owing •to -• New Zeif)andTa ~reduction of . 29 per chut, i ropt Abe> interest'^ coupong, over per cent; applicable .jf .any interest is paid prior ;to' January 1. Apparently, the bonds.'Hv bjch ? paid ’the - ,’in-, terest in Now Zealand .. have, been sold to London buyers, unaware}' ; bf ' tne above disability. - ' - Stockbrokers are •asking Sir T. Wjlford to obtain- a ruling, hoping the justice °f the , claim will be recognised. T ’A: IyV .