The Feilding Star. THURSDAY, AFEIL 30, 1891. The Turn of the Tide

Feilding Star, Volume XII, Issue 132, 30 April 1891, Page 2

The Feilding Star. THURSDAY, AFEIL 30, 1891. The Turn of the Tide

In commenting on the last half yearly meeting of the shareholders of the Bauk of New Zealand, held in London, the Financial Times said : — We congratulate the Bank on the tone of the Chairman's speech. We shall not be accused of partiality to this institution aa we have taken an active part in exposing the gross mismanagement which has marked the conduct of its aftaira iv the past. We have no hesitation in sayir»g that if the policy indicated by the Chairman is faith fully carried out the Bank has every chauce of a renewal of its old prosperty. In particular, we commeud the appointment of a general manager from outside the Bank's staff. Iv the course of his speech the Chairman said, it was not improbable some of their competitors in the colony may j make capital by saying the Bank of New Zealand was a foreign institu tiou, and that the sympathies of the Bauk will uot be with the colonies as they were in former days. This is not the fact. It was their intention to continue the Bank as a New Zealand Bauk, and in the interests of New Ze.laud, and the New Zeaiand coiouy, .Referring to the position of the colony he quoted authorities which showed the outlook continued bright and hopeful. The colony had settled down to a slow but certain pace in the race for population and wealth. Its resources are being developed upon a more permanent and substantial basis. Her position as the most productive colony in Aus tralasia in proportion to population, is firmly established. There is uot the slightest doubt as to the great future before New Zealand, provided ordinary caution is exercised in the management of its affairs. In this prosperity the Bank must have its thare. ______«»«.