MONETARY PROBLEMS

Taranaki Daily News, 13 February 1931, Page 11

MONETARY PROBLEMS

HAWKE’S BAY CHEQUES. MEETING THE SITUATION. Auckland holders of cheques drawn upon Napier and Hastings banks have been suffering a certain amount oi mconvenience in negotiating them, says the New Zealand Herald. The policy of the banks is to accept these cheques on deposit for collection on l y —-not to allow them to pass to the credit of. the customers’, accounts until it has been ascertained by correspondence that .they have been met. With regard to Hawke’s Bay people now in Auckland, who are drawing upon their own accounts, the practice is to cash the cheques of all who are vouched for by a reputable person, or at any rate to make an advance upon the amount of the cheque—in fact, to take any reasonable course to meet tne convenience of the holder oi r^ wc F" As to future-arrangements the Bank of New South Wales, for instance, hopes to have the Hastings branch reopened on Monday. The Bank of New Zealand expects to receive advice from headquarters any day as to the reopening of its Napier and Hastings branches. When that stage arrives, cheques drawn upon the branches will be. accepted .in the. ordinary way. j