The Feilding Star. SATURDAY, DECEMBER 14, 1889. Bank of New Zealand

Feilding Star, Volume XI, Issue 75, 14 December 1889, Page 2

The Feilding Star. SATURDAY, DECEMBER 14, 1889. Bank of New Zealand

Our London telegrams inform us tha- 1 the remarkable speech made by Mr Buckley to the shareholders of the Bank of New Zealand in Auckland, created considerable alarm among the English shareholders and depositors, and, as a natural consequence, there was a heavy fall in the value of the bank stock, and a withdrawal of deposits was threatened. Nothing very serious, however, appears to have really happened, and by later adyices we learn that the depositors are now calmer, while the hope is expressed that they will be altogether pacified. To assist in attaining that very desirable end the London Directors have issued a circular of a very re-assuring character. This unhappy result of a revengeful speech, made by a spiteful and self-seeking man, makes it all the more desirable that the Head Office of the Bank should be removed to London, where a Board of Directors can be selected from the proprietory, composed of gentlemen who are not likely to fail so miserably in their duty to their fellow shareholders, as did the now notorioxis Mr Buckley, and, with lew exceptions, the other Directors in the colony We are glad to report that the bank stock lias again an upward tendency and the latest .quotations are — Old Issue of Shares, &1; New Issue, .£lO ; and to reassert what we have asserted with confidence before, that the Bank of New Zealand will soon rise triumphant above all its difficulties, and again be one of the leading financial institutions on this side of the line.