BANK OF NEW ZEALAND.

Press, Volume LX, Issue 11509, 16 February 1903, Page 6

BANK OF NEW ZEALAND.

RISE IN SHARES.

MB BMBLINGS RETIREMENT,

(PRESS ASSOCIATION TELEGRAM.) AUCKLAND, February 14. Bank of New Zealand shares are quoted: —Buyers £4 2s: and National Bank £3 10s. No explanation is available here fol tlie sudden rite. (SrKCIAL TO "TRE TRESS.") WELLINGTON. February 15. It is understood here that the New Zealand loan is already underwritten, probably at a cost of about one per cent. In regard to Bank of New Zealand fihaxes I am given to understand that there i.s no special ivasoii for the rise reported from Auckland beyond that the shares have been steadily increasing in value, and are very firmly held, bonie recent sales were aa high as £3 15s. The quotation of _0s for National Bank shares is a substantial advance, upon recent quotations. Now that Mr Emblnig has taken his departure, it is pretty freely stated here that i.i-a principal reason for his resignation as manager cf the Bank of New Zealand was because of friction with the Audit Department. lam informed on excellent authority that there were many cases of differences between the. manager and the Audit Department, which were considered by the Board, and that in nearly every instance the minutes recorded are in favour of the manager's contention.