BANKING

Wanganui Chronicle, Volume 79, Issue 278, 26 November 1935, Page 6

BANKING

b.r.—S. F. S, u it h j he fails to give I three questions So turned to • • now in stating borrowed £SO'JiJ from ,3 | writes £5OOO in it s J.-’i (“Prosperity’s” credit3* |ing something t;, at has been done in Myh,':.' ! land or the British I venture to suggest th i i been that, sueb , >■.- v 1 1 and others, I erc.v hug.'; that. Oswald Gardn.-- .. n 111 -ted,” “P. - ,' Ho It ” and "\V eslaie ,; hunt in the .-.true pack 3 I been told of his I bunking mvt } VJt to air ilium.'P. ' .. h direct and simple • I promptly them,, , n I at any given moment k J ' " hieli hi: k« vs ... weaving an imaginary l costless credit, ho hadla i other inaccur.. •. . ,l I enough to go ■ >a :i t 0 h ;’* I who will turn up hi s ] e ,4 ’ prove him v, >.• ■ G ‘ bos, Mr. I ml. unfair >• ” On August I; 3 -g « rites letter-, -m. of £lOOO, the I ; lllk y deposits of £ I "Og eac i, to his own satisfy Presto! I have proved a create credit. ’ But I, j, s of fair play, : mnight write you th:*; whilst have boon studying b long period (h t? has ] ec! “J ten pamphlets on the years to my knowledge * have an elementary knowlM* keeping -i.e. in his trial <2 | ing that a.m«: .J ■ dt-pusg 0 ‘ come into br;t,g, | lt . into account the debt private 1 ram-ii' :hm. And m ing such an egregious that any on.- who believe »j lend their depO'it.s is suffer [delusion. Mr. stat-'d the method of hankj| vances, e.xpre.-sly settinj banks valued their securiti Mr. Editor, if I were as ij as inaccurate a< Mr. Gardae coterie in hanking usage,a that the Mortgage Corponti to honour 25 per cent, oft* nient advances to settler! 1 1 because banks lent their m because the \dvances toSerj has not valued its security fully as the banker looks is am, etc.. JAMES H Wanganui, Xm. 25. JKS,