THE TOWN BOARD'S ACCOUNT.

Patea Mail, Volume I, Issue 53, 13 October 1875, Page 3

THE TOWN BOARD'S ACCOUNT.

ro Tin-: kditok of tub path a mail. Siii, —A letter appeared in your last issue headed ‘‘Bank of New Zealand Champions,’' and signed symbolically Pawnbroker, ia which the writer, while accusing certain ii di viduals of undue partiality to the above men. tinned bank, seems, at the same time, to have lost sight of the fact that he himself is unwittingly showing, not only gross partiality to the rival institution, but also most uncalled fur and undue severity towards the Bank o r New Zealand. He insinuates that the attitude assumed by tho-e he dubs champions " is merely from a desire to repay per.-onal favours. What is the cause of the attitude he, and those he represents, have assumed .’ Is it to repay personal favours, nr like petted children, must they cry because they cannot have (heir own way ’ Mr Pawnbroker is unfortunate in having used the bank’s treatment of the Building Society as a weapon of attack. The Society has given (lie Bank of New Soutk Wales a cash credit bond, and pays 10 per cent, on its overdraft. The Bank of New Zealand offered to discount the directors’ notes of hand from time to time. Their rate for three months is 7 per oent Does Mr Pawnbroker see a present loss to the Society of ii per cent., less a small amount for stamps, by refusing that oiler.’ Of course, the directors would have been liable on their promts ory notes; is each director not now personally I’ab’c to the extent of the ca-h credit bond he has signed .' Where has Mr Pawnbroker derived his information that, •• with one or two exceptions the whole of the. business accounts, as well as those of many of the largest landholders of Wairoa. Hawera, and Carlyle.” have been “ monopolised ” by the Bank of New South Wales.’ Is he quite cer ain tha he states *■ the truth, (he whole truth, and nothing but the truth.’” If lie knows as much as lie pretends 10. he must know that there is not the slightest foundation for such a statement, and I trust ho is not wilfully attempting to mislead the public. With regard to the Carlyle Town Board doing business only when all its members are present, does he not think it would be a sad hindrance lo that body if no businesss could be done whenever any erratic member, instead of doing his duty to the ratepayers, chose to '• drive his pigs to market.” Surely tire Bank of New Zealand deserves every support. It is a local bank. Its dividends are expended and distributed in the colony. Why should we support an Australasian institution, which annually drains one country of a large sum of money, probably not less than £70,000 sterling. lu conclusion, Sir, let me remind Mr Pawnbroker that we lately heard of another Australasian bank trading in New Zealand, being called upon to withdraw £200,000 from the colony. May not the same thing happen again, and then, if Mr Pawnbroker ia n w repaying personal favours, let him beware, he may bo the first called upon to refund. I nm, Sir, ONE NOT TO BE LED BV THE NOSE.

[ln fair play we insert this letter, but it must close all correspondence on the subject. The Board matter was definitely decided on Monday night, and such being the case, we have specially abstained from comment ourselves, and will give insertion to no more letters calculated to create any heartburning or ill-feeling in connection with it.]