BANK HOLIDAYS.

Press, Volume LIV, Issue 16398, 18 December 1918, Page 6

BANK HOLIDAYS.

FOUR DAYS AT CHRISTMAS

ALLEGED INCONVENIENCE

The announcement that tho banks intend to close down for tho Christmas holidays for four days—from the 25th to the 30th inst.—caused no little comment amongst business people yesterday. Amongst retailers especially it was felt that the suspension of banking facilities for such a lengthy period was bound to bo inost inconvenient, and was likely to occasion considerable difficulty. A representative of "The Press'' interviewed several business men and others on the subject, and the different phases of the matter, as expressed by those interviewed, follow. . The head of one of the largest retail establishments in the city said that lie regarded tho decision to close tho banks for two days beyond the statutory Christmas holidays as most unfair to tho public, and extremely awkward for many traders. It would mean that the whole of his firm's takings on Christmas Eve, after about 2 o'clock in tho afternoon, amounting to a large sum, could not be banked until the following Monday. This would, perhaps, matter less to his firm, who had a good strongroom, than to others, but nevertheless it was' not right that they should have to hold so much money, which would be increased by Friday's and. Saturday s takings, for so long a period. Then, again, many firms received cheques in payment of goods, and anyone who wished to perpetrate a swindle on them by drawing a cheque without having funds to meet it would have a decided advantage in doing so, if tho banks were closed until the 30th, as five days would elapse before the fraud could bo discovered. In the matter of wages, the fact of the banks being closed during the week-end would no doubt prevent some firms paying the weekly wages. That would not affect tho employees ot his firm, who were paid fortnightly, and would receive their fortnight's pay j in front of Christmas, but it would bo decidedly awkward for many others, lhe banks had lately had a week's extra holiday, and ho failed to see why they should take four days instead of two at Christas time, at the inconvenience m one way or another of a large proportion of the public. . Tho 6ecretary of a large :manufacturing concern stated that the closing of the banks for the Chnstmaß period ■would not affect his firm in any way. Wages for Christmas week would b© paid in advance, and there would bo no inconvenience in that respect, iaen the custom in respect of payment or accounts was that settlement was mado on the 10th of the month, and the comparatively few sums that were received after that date were hardly worth taking into consideration. , , Mr P. Davidson, president of the Canterbury Chamber of Commerce, said that he had been approached in respect of the matter, and had been asked to communicate with Wellington regarding it. Beforo doing so, however, he had made some enquiries, the result of which had been to convince him that the inconvenience anticipated would, after all,, be not so very groat, ft had been pointed out to him tii r it in past years the banks had closed for three days at Christmas time—Christmas Dav, Boxing Day, and the following day—and that this year all that was involved in tho extra day's holiday was the loss of two hours' banking facilities on Saturday, the 28th instAs most business people possessed facilities for the safe-keeping of cash, or could make arrangemente. for its safekeeping, he was of opinion that tho deprivation of two hours' banking facilities would not lead to any very great inconvenience. Mr G. A. U. Tapper, manager of the local branch of the Bank, of New Zealand, confirmed Mr Davidson's statement as to what the extra day's holiday this year involved. Mr Tapper pointed out that if the banks, opened for two hours on tho 28th inst., it would be impossible for them to deal with the rush of business that they would be called upon to deal with, and that, in those circumstances, to open for two hours would bo fair neither to the public nor to the banks. In certain cases, he added, it was possible to make arrangements with the banks which would reduce the risk and inconvenience that somo business people anticipated.