AUSTRALIAN AND N.Z. RANKING COMPANY, LTD.

Press, Volume LXXI, Issue 21409, 27 February 1935, Page 7

AUSTRALIAN AND N.Z. RANKING COMPANY, LTD.

TO IHS EDITOR OF TIIC PRE3H. Sir,—l have before me a demand notice, giving under threat of a summons. seven days to pay a further call on behalf of the Australian and New Zealand Banking Company, Ltd. This was attempted about this time last year, but a meeting of shareholders in Christchurch, with a solicitor representing them. expressed themselves as unanimous m not paying any further calls.

Unfortunately, at a Inter meeting called by and presided over by a solicitor from Ounedin, who held power-of-attorney in this company, a foolish resolution was enacted by the ignorant shareholders present, declaring if a private meeting, thereby showing the reporters the door, and robbing us of the desired publicity. 1. beg to state then, that any comment this time last year and now must prove of extreme benefit to hundreds of your subscribers. I have had correspondence from as far afield as New Plymouth, which goes to prove this.

In sending these threatening demands the company is attacking the shareholders piecemeal, and of course, we may presume that a few timid individuals, who abhor publicity, may under the threat of a summons continue to pay. However, I again suggest that the Government, through recent legislation, initiate some enquiries into the

pros and cons of this banking concern before more money is lost. Is it too much to ask that at least some government official be asked on behalf of the unfortunate shareholders to call on the individual who holds power-of-attorney in this company and get him to publish a statement. Anyhow, the four main centres of New Zealand are being made aware of the resolutions passed at meetings of shareholders in Christchurch, de-

finitely not to pay another sou. Apparently headquarters have moved from Dunedin to Auckland, as the demand notice (printed) is from Auckland.—Yours, etc.. Dunedin, February 22. 1935.