TRADING BANKS.
STATEMENT BY MINISTER. (P.A.) INVERCARGILL. June 24. The opinion that the statement made in the House of Representatives on Wednesday by tlu* Minister of Transport (the Hon. J. O'Brien) that at some time the Government would have to take over the private banks, had come at an unfortunate time for the Third Liberty Loan, was expressed by Mr R. C. Cook, chairman of the Invercargill Stock Exchange, at a meeting of the Southland Third Liberty Loan Committee to-day. A motion was passed suggesting that a statement on the subject by the Minister of Finance (the Hon. W. Nash) would help to clarify the position. Mr Cook said that two persons had rung him up and had told him that it was no use their putting money into the Liberty Loan if the Government was going to take* over the banks and their money with the banks. “1 believe Mr O’Brien has made statements like this before,” said Mr J N. Armour, chairman of the Invercargill Chamber of Commerce, “but 1 also understand that Mr Nash is not in favour of the State taking ov a r :hc banks, and that he has convinced I.is party by bis arguments. It might ho better if Mr Nash made a statement on the subject, though I do not think there is verv much in it.”
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Bibliographic details
Ashburton Guardian, Volume 63, Issue 218, 25 June 1943, Page 3
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224TRADING BANKS. Ashburton Guardian, Volume 63, Issue 218, 25 June 1943, Page 3
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