THE PROPOSED BRANCH BANK.

Hot Lakes Chronicle, Volume 4, Issue 177, 22 April 1896, Page 2

THE PROPOSED BRANCH BANK.

The following reply has been received from the General Manager of the Bank of New Zealand, Wellington, in regard to the petition lately forwarded asking that " branch of the Bank be established in Liotorua: —"To Messrs Malfroy and the other gentlemen whose signatures appear on the petition to the Bank dated 14th February : ■ — Gentlemen, —Your petition has been laid before the Board and they regret that the trade of Rotorua does not warrant the Bank opening at present, unless all customers of the proposed Branch will agree to a special charge to recoup the Bank for the cost of providing banking facilities in the district." On receipt of this communication MiMr! frov. taking advantage of the presence of Mr Watson, president of the Bank, in Rotorua called upon him to further urge the matter. Mr Malfroy pointed out, that the opening up of communication all round by means of the Botorua-Te Tcko, Whakatano, Galatea and other roads, and the fact of Rotorua being a railway terminus and the centre of the tourist traffic tended to bring much businessto the place.

The establishment of a branch here would afford a quicker means of communication to settlers in the district generally with the head office than is offered elsewhere. Mr Malfroy also stated that he would be pleased to bring a deputation of the gentlemen who had signed the petition to further urge the matter. Mr Watson stated that nothing would be effected by this as the matter had already been discussed by the Board of Management. The directors were anxious to avoid all expense urdess they saw a probability of reimbursement. All that Sir Malfroy had brought before him had been fully considered by the Board and a deputation would be of no avail,- as he himself could not decide the matter. If those interested thought that the establishment of a bank in the locality was desirable and would consent to have their accounts debited to the extent of say 10s or 20s each half-year, in accordance with the tenor of the letter, in that case the directors would see what could be done.