AUSTRALIAN AND NEW ZEALAND BANKING COMPANY, LTD.

Otago Daily Times, Issue 22505, 25 February 1935, Page 11

AUSTRALIAN AND NEW ZEALAND BANKING COMPANY, LTD.

TO THE EDITOB Sir, —I have before me a demand notice, giving me, under threat of summons, seven days in which to pay a further call. An attempt of this nature was made at this time last year, but a meeting of shareholders in Christchurch, with a solicitor representing them, expressed themselves as unanimous in a decision not to pay any further calls. Unfortunately, at a later meeting called by and presided over by a solicitor from Dunedin, who held power of attorney in this company, a foolish resolution -was passed by the ignorant shareholders present who, declaring it to he a private meeting, showed the press reporters the door. And robbed us of the desired publicity. I beg to state, Sir, that any comment this time last year and now must prove of extreme benefit to hundreds of your subscribers. I have had correspondence from as far afield aa New Plymouth which goes to prove this. In persisting. in these threatening demands the company is attacking the shareholders piecemeal, and of course one may presume that a few timid individuals who abhor- publicity may, under the threat of a summons, continue to pay.

I again suggest that the Government, through repent legislation, should initiate some inquiries into the affairs of this banking concern, with its headquarters in Australia, before more money is lost. It seems that a change of venue has taken -place. I cannot say if the same individual still holds *power of attorney in Dunedin, but last year's threat came from a sub-agent here. Now it is with a Mr Tong, solicitor, in Auckland that we have to contend.

Is it too much to ask that some Government official call on this Mr Tong, solicitor, of Auckland, and broadcast a statement so that the shareholders are hot attacked' piecemeal? Anyhow the four main centres of New Zealand are "being made aware of the resolution passed at meetings of shareholders in Christchurch that there should be a definite refusal to any further calls.—l am, etc.. Pro Bono Pcblico.