THE BANK OVERDRAFT.
TO THK EDITOR. Sib,— As the borough overdraft is being referred to afc the present moment to influence votes in the Mayor's election (I cannot for the life of me see why it should do so one way or the other), a short reference to it may be both interesting and instructive. In September, l.nt year, when Mr Knox was Mayor, it hail reached to between £700 and £800. The bank insisted on its reduction by at le;i->t £300. When Mr Knox's term of offi -e expired, and the present Mayor took Ins seat, the overdraft at .the first meetmu thereafter was stated to be £699, showing that in the last few months of Mr Kuon's term a considerable reduction had been made. At the last meeting of the borough council the overdraft stood at £531 I7ssd, and by next meeting, the last of the present Mayor's term of offiue, will probably reach the sum of £5(50 These are the plain facts of the case.— l am, <fcc., Ex-Councillor.
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Waikato Times, Volume XXIII, Issue 1931, 20 November 1884, Page 2
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172THE BANK OVERDRAFT. Waikato Times, Volume XXIII, Issue 1931, 20 November 1884, Page 2
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