INCREASE IN BANK RATES
CRITICISM BY COUNTY COUNCIL. "WAR PROFITEERING." (By Telegraph.—Own Correspondent.) TAUMARUNUI, this day. At the monthly meeting of the Tatimanmui County Council it was resolved that in the opinion of the Council the increase in the rate of interest on bank overdraughts was an unjustifiable tax on the farming and business community, particularly at the present juncture, and that a careful perusal of any of tho Associated Banks' balance sheets did not reveal any necessity for increasing the banks' profits.
During the discussion the opinion was expressed by Councillors that the altitude of the Associated Banks was the "last straw" at a time like tho present, when settlers were struggling to hang on to the land in order to produce and make a livelihood, obstacles were being heaped before them, and the action of tho banks seemed liko taking advantage of a public necessity and was very much on the linos of "war profiteering."'
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Auckland Star, Volume LVIII, Issue 112, 14 May 1927, Page 16
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157INCREASE IN BANK RATES Auckland Star, Volume LVIII, Issue 112, 14 May 1927, Page 16
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