THE BANK OF NEW ZEALAND
[rEUTBR'S TBLEQBAM— COPy-IOHX.] London, October 30 Bank of New Zealand shares are quoted at to The failure of the Bank of New Zealand to pay a dividend caused a fall of £1 m the price of shares m the Bank of Australasia, Bank of New South Wales, and the Union Bank of Australia. Shares m the English Scottish and Australian Bank also fell 10s. The *' Financial News " says :— -The Bank has assisted the speculations of a small group of log-rollers and political gamblers. Among the Companies the IJank is stated to have assisted, the "News" mentions the Land and Mortgage Company, the Loan and Mercantile Agency, the Auckland Agricultural Society, the WellingtonManawatu Railway, the Waikato Land Company, and the New Zealand Shipping Company. The " News " further states that the suspension of the payment of a dividend forebodes a day of reckoning which New Zealand contrived to defer until the present. It has been a spendthrift colony, and has now reached the end of its profligate borrowing. It will also find it advisable to ' employ new methods of managing finance and new men to control political affairs.
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Ashburton Guardian, Volume VII, Issue 1700, 1 November 1887, Page 3
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191THE BANK OF NEW ZEALAND Ashburton Guardian, Volume VII, Issue 1700, 1 November 1887, Page 3
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