25 JANUARY 1963, Page 13

COMPANY NEWS SIR,—It is always a delight to read the

urbane com- ments of your city experts. 1 was particularly interested to read the Company news in your issue dated January 18 and to be informed that: The great Halifax last year made new advances of £80 millions against £68 millions in 1961. This increased lending was, of course, made possible by larger subscriptions from investors which moved up from £82 millions to £108 millions. Withdrawals at 50 per cent. were at a very low ratio.

No one could complain of the facts and figures, but it just happens that they relate to my own Society, the Abbey National, and not to the Halifax. BRUCE WYCHERLEY Abbey National Building Society, Baker Street, NW I