MANAGER'S EVIDENCE

Poverty Bay Herald, Volume LIX, Issue 17956, 7 December 1932, Page 4

MANAGER'S EVIDENCE

ACTION AGAINST BANK FINANCING OF AROWHANA fP«r Press Association.) WELLINGTON, last night, The hearing of the case, William Douglas Lysnar v. the National Bank of New Zealand was continued to-day. The claim and counter-claim total £120,000. Mr. Lysnar, who .is suing in person, is claiming £50,919 from the National Bank of Now Zealand, Limited, and the bank is counter-claiming for £71,990.

.T. T. Grose, general manager of the defendant bank, confirmed the circumstances in which the marginal note was made by him. Witness did not agree to the amount of control proposed to be given to Lysnar in the letter from the commissioner, and it was in the interview with the plaintiff on May l that the condition was added in the marginal note, to which Lysnar agreed. That was in regard to any expenditure being subject to Ihe bank’s approval, and that any surplus revenue was to be disposed of as the bank advised. Subsequently the plaintiff repudiated that condition. _ Cross-examined. by the plaintiff, the witness gave particulars of the conversation between the commissioner, Lvsnar and himself, in which witness said that the bank was prepared to write off a sum running into some thousands to give Lysnar a fighting chance. That, was on March 30. Prior to the correspondence there were several interviews, and the proposals made up to May 1 were all inconclusive. On May I witness laid down the conditions to which he required Lysnar to agree if the bank was to assist him. Corroborative evidence was given by Henry Bellenden Gordon, assistant manager of the National Bank, as to what took place at the interview when the conditions were discussed. The hearing was adjourned till tomorrow.