BANK INTEREST ON OVERDRAFTS.
PROTEST BY HARBOUR BOARD MEMBER. At yesterday’s meeting of the Fox ton Harbour Board, a letter was read from the Bank of New Zealand ;o increased charges oil overdrafts, which brought forth a protest from Mr J. Chrystall. “Don’t stir them up,” remarked Mr J. A. Nash, M.P. “Why shouldn’t we?” asked Mr Chrystall. “I rneaii the local bodies,” replied Mr. Nash, with a chuckle. “Anyway, I move that we enter an emphatic protest,” stated Mr Chrystall.
Mr M. Mortensen seconded the motion.
It was contended by Mr Nash that so long as the advances were in excess of the deposits then the high rate must prevail. The local bodies had protested against the increase, but nothing could be done. He moved as an amendment that no action be taken. The amendment was carried on a show of hands, and the letter was inerelv received.
Mr Chrystall expressed his disapproval in the strongest terms and said that something should be done to put a stop to it.
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https://paperspast.natlib.govt.nz/newspapers/MH19270607.2.7
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Manawatu Herald, Volume XLVIII, Issue 3648, 7 June 1927, Page 2
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171BANK INTEREST ON OVERDRAFTS. Manawatu Herald, Volume XLVIII, Issue 3648, 7 June 1927, Page 2
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