ON SIR ROBERT GIBSON

Evening Post, Volume CXII, Issue 82, 3 October 1931, Page 13

ON SIR ROBERT GIBSON

MB. LANG'S GEIEVANCE

COMMONWEALTH BANK

UNFAIR COMPETITION

(United l'ress Association—By ' Electric Tel«-

graph—Copyright.)

(Received 3rd October, noon.) ! ' SYDNEY, This Day. In the Legislative Assembly the Premier, Mr. J. T. Lang, attacked the Chairman of the Commonwealth Bank, Board, Sir Robert Gibson. H« said 'that Sir Robert Gibson was conducting a savings bank business in deliberate opposition to the State Savings Bank. Mr. Lang said he had received information that the Commonwealth Bank was opening a number of branches in opposition to the Government Savings Bank. "It is clear to every reasonable-minded man," he said, "that Sir Robert Gibson's personal antipathy to me is a very important factor and, I should say, the main motive in prompting the Commonwealth Bank to do all in its power to retard the rehabilitation of the Government Savings Bank. I 40 not rnirid Sir Robert objecting to rhe personally or to my politics, but I dp very strongly object to his using the money of the supporters of. the Commonwealth Savings Bank to build palatial premises and conduct a savings bank! business in deliberate opposition to the State Savings Bank in centre* where the State Bank is well able to» provide the necessary service. "In connection with the proposed amalgamation with the Commonwealth. Bank the latter was given facilities U investigate the whole of the affairs of the State Savings ,Bank, and it is fairly obvious, that they have taken, advantage of this confidential information t« guide them as to the best centres to open branches. Sir Bobert Gibson, while trying to injure the State Saving* Bank, is! very careful not to open trading bank facilities in competition with, trading banks. Sir Bobert Gibson wbul4 not lift a finger to help finance the Say* ings Bank in this State to the extent ot one penny to enable it to grant Horn* relief to old depositors, notwithstanding that the present' Commissioners were fully prepared to offer him ampl<v security in the way of Commonwealth bonds, but Sir Bobert should bear in mind that ho is not the dictator of the) whole banking < policy of New South Walcjs, and despite his pronounced' deliberate opposition to the Savings Bank of New South Wales will continue td function and will eventually become as strong as ever. It.is a pity we have not a Sir Denison Miller at the h.ead of the Commonwealth Bank, (Ministerial cheers.) ' .. "I regret that it is necessary to speak; in this way. I made every representation direct, to the Commonwealth Gov« ernment and the Commonwealth-Trea-surer, and surely those who have powet to conserve our Tights should do so. Tha State Savings Bank has £9,000,009 more Commonwealth securities than the whole of the trading banks put to* gether. While Sir Bobert Gibson i* standing behind the trading banks, h* refuses to stand behind the Government Savings Bank. , "Before Sir Robert Gibson's appointmerit to the board I wrote an artiel* stating that one of the worst things that could happen to this country would be tho reappointment of that man as Chairman of the Board. Perhaps, having read that article he has not forgotten and not forgiven."