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Tuesday, 16 August 1960


Mr LUCHETTI (MACQUARIE, NEW SOUTH WALES) - My question is directed to the Treasurer. Is the right honorable gentleman aware that notices inviting subscriptions to the Hooker Finance Company Limited's first debenture issue are being exhibited in branches of the Commonwealth Bank? If he is aware of this fact, does the Treasurer agree that seeking funds for a private organization represents a departure from the long established practice of the bank? Does he agree that such raisings of funds for a private organization conflict with the welfare and the well-being of public organizations which are at present urgently in need of finance? I ask the Treasurer also: Has he approved of what is taking place and, if he does approve of it, will he tell the House why he gives special and favoured treatment to the Hooker organization as against other private finance houses? Is one to accept this as being the outcome of the activities of the former Treasurer in his position as head of one of the Hooker organizations?







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