BANK OF NEW ZEALAND.

Press, Volume LX, Issue 11502, 7 February 1903, Page 7

BANK OF NEW ZEALAND.

HALF-YEARLY MEETING,

(PRESS ASSOCIATION' TELEGRAM.) 1 WELLINGTON, February 6. | The haH-yeorly n_.et-i.g of the Bank of New Zealand was held at noon, Mr Malet, the OUairman, presiding. The chief uuty was the election of a director, and Mr Wrn. Watson, the retiring ddTector, was the only gentleman nominated was duCy elected. The Chairman pointed out that the meeting was merely held under the terms of the deeds of settlement, and no accounts would be presented, but he said-be had no reason to doubt but that on March 31st the directors would be able to present as satisfactory a balance-sheet as they did last, year. He congratulated the farmers on the improved prices obtained for produce, and also tne shareholders af the Bank on the • fact t-uvfc the sharecof the Bank were again sought after at par or slightly above that figure. This fact is good evidence, amongst others, of the credit, which the Bank enjoys. W-th reference to the proposed arramgementa of the .maid- in connection with the maturing of the guarantee, and other maitters affecting it, in its relations with the Goven-me-it, the Chairman said tne matters were now under cons-deration, and the directors bad no doubt but a swtisifactorv arrangement woiild be concluded. Regret was expressed at the resignation of Mr J. Embling, the general manager, and the Chairman saud that so far the vacaiicy had not ween filled, but in the meantime 3lr A. Mitcha'e, the manager of the Duneddn branch, who enjoys the entire confidence of th© Board, will administer the affairs at the Head Office.

The meeting only lasted a few minutes. Votes of thanks were passed to the directors. In replying, the chairman said he thought the directors had started on the right track, and if they had good times and fair luck he anticipated further prosperity.