AUSTRALIAN NEWS

Hawke's Bay Tribune, Volume XXI, Issue 249, 3 October 1931, Page 5

AUSTRALIAN NEWS

MR. LANG IN ATTACK SIR ROBERT GIBSON CENSURED. FOR COMPETITION WITH STATE BANK. (United Press Association—By CableCopyright.) (Received 3, 10.25 a.m.) Sydney, Oct. 3. In the New South Wales Legislative Assembly, the Premier, Mr. Lang, attacked the chairman of the Commonwealth Bank Board, Sir Robert Gibson. He said: “Sir Robert Gibson is conducting savings bank business in deliberate opposition to the State Savings Bank.” Mr. Lang said that he had received information that the Commonwealth Bank was opening a number of branches in opposition to the Government Savings Bank. He added: “It is is clear to every reasonable-minded man that Sir Robert Gibson’s personal antipathy to me is a very important factor, and I should say the main motive prompting the Commonwealth Bank to do all in its power to retard the rehabilitation of the Government Savings Bank. I do not mind Sir Robert objecting to me personally, or to my politics, but I do very strongly object to his using the money belonging to the supporters of the Commonwealth Savings Bank to build palatial premises and conduct savings bank business in deliberate opposition to the State Savings Bank in centres where the State Bank is well able to provide the necessary service.

PROPOSED AMALGAMATION.

“In connection with the proposed amalgamation with the Commonivealth Bank, the latter was given facilities to 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 to guide them as to the best centres in which to open branches. Sir Robert Gibson, while trying to injure the State Savings Bank, is very careful not to open trading bank facilities. Sir Robert Gibson would not lift a finger to help the finance of the Savings Bank of this State to the extent of one penny to enable it to grant some relief to old depositors, notwithstanding that the present commissioners arc fully prepared to offer him ample security in the way of Commonwealth bonds; but Sir Robert should bear in mind that, he is not the dictator of the banking policy of New South Wales and that despite his pronounced and deliberate opposition the Savings Bank of New South Wales will continue to function and will eventually become as strong as ever.

“It is a pity that we have not a Sir Denison Miller at the head of the Commonwealth Bank. (Ministerial cheers). I regret that it is necessary tp speak in this way. I made every representation direct to the Commonwealth Government and to the Commonwealth Treasurer, and surely those who have power to conserve our rights should do so. “The State Savings Bank has £9,000,000 more Commonwealth securities than the whole of the trading banks put together. While Sir Robert Gibson was standing behind the trading banks, he refused to stand behind the Government Savings Bank. Before Sir Robert Gibson’s appointment _to the board, I wrote an article stating that one of the worst things that could happen to this country would be the reappointment O- that man as chairman of the board. Perhaps, having read the article, he has not forgotten and has not forgiven.” The State Parliament has adjourned for six weeks. UNIVERSITY BILL. (Received 3, 9.25 a.m.) Sydney, Oct. 3. The State Government is drafting a Bill to repeal the present constitution of the Universit, Senate. The policy of the Ministry, it is stated, is to have the Senate constituted on democratic lines more in keeping with modern progress. The present number may be considerably reduced.