THE BANK OF NEW ZEALAND.

New Zealand Mail, 11 August 1898, Page 30

THE BANK OF NEW ZEALAND.

TO THE EDITOR. Sir, —I see by the president's report that one reason of the falling in the revenue of the bank was because the farmers in the South Island did not require much assistance, owing to the rise in the price of produce. Lucky farmers! I want to givle you my experience of the Bank of New Zealand in this island. Some two or three months ago I applied on behalf of a friend, a farmer (who had been a customer of the bank in Foxton for about five years), for la temporary loan of JBISO. Security offered, a first mortgage of .£3OO and the property insured for .£450 in the name of the mortgagee, which they declined, after sending it from Foxtoa to Wellington for instructions. Applied on behalf of friend to another bank, and they did it without any humbug of referring to headquarters for such a paltry amount. And I* know of another insta :ce similar, only the amount was a little larger) Now, sir, I maintain if that is the polioy of the Bank of New Zealand, I am not surprised at their losing customers. The policy of the bank, from what I knew of it, is to assist people that want large amounts and crush the small fry j as I think, if the records of the bank were examined, you would find all the heavy: losses in the past have been by large loans, and the losses by the small fry would bo very light. I, in common with many others, was in hopes that with the change in the management of the bank that policy would be changed, but apparently they are going on in the same old groove.—l am, &c. J. R. Stan bell. Te Horo, August Bth, 1898.'