HOME BUILDERS’ LOAN
ALLEGATIONS AGAINST GOVERNMENT SAVINGS BANK. OFFICIALS DENY IMPROPRIETY. united Press Assn, by El. Tel. Copyright (Australian Press Assn.) SYDNEY, Nov. 15. At an inquiry into the mortgage transactions of the- Government Savings Bank, arising out of the allegations l;Ty Mr. 'Lang in Par.iament, Mr. William O’Malley, president of the advances for home department of the Lank, gave evidence that nothing improper had ever occurred in the granting of loans to home builders. No pressure had ever been used to alter valuations, and no dealing or bargaining had occurred regatcling second mortgages. Similar evidence was given by other bank eommissioners. Mr. Herbert Tiess, the bank’s solicitor, denied that there was any 1 orm of impropriety in the handling of legal business on tehalf of the bank's clients. The fees charged were generally below the recognised scale. Only three second mortgages were handled in one year. Judge Edwards, chairman of the commission, commented on Mr Lang’s absence from the proceedings. He said he had tried without avail to get into touch with Mr. Lang. The hearing was adjourned.
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Bibliographic details
Gisborne Times, Volume LXVIII, Issue 10745, 16 November 1928, Page 3
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179HOME BUILDERS’ LOAN Gisborne Times, Volume LXVIII, Issue 10745, 16 November 1928, Page 3
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