BANK DEPOSITS
Sir, —Perhaps the best way to see if Mr. Fitzherbert and I have anything in common is to state a specific case. Adams draws a cheque on the bank creating an overdraft for £IOOO. He pays the cheque to Brown for a machine. Brown deposits it in the same bank to his credit. Now, I say that the essence of these transactions is that the bank has bought Brown's machine on credit and sold it to Adams on credit. Does Mr. Fitzherbert agree? Accountant.
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New Zealand Herald, Volume LXXIII, Issue 22344, 15 February 1936, Page 17
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86BANK DEPOSITS New Zealand Herald, Volume LXXIII, Issue 22344, 15 February 1936, Page 17
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