The Colonial Bank 7 PER CENT. DIVIDEND
[Per Press Association, j Dunedin, September 27. The half-yearly meeting of the Colo., mal Bank was held to*day. The Hon G. McLean, who presided, said it was with satisfaction thoy were able to laj bofore them recommendation to pay a 7 per cent dividend, besides placing £5000 to the reserve fund and carrying forward £6134,. Keferring to the crisis ia Australia, be said the Bank had only a sum of L3O locked up. While deploring the the trouble of the New Zealand Loan and Mercantiie Company, they bad nothing to do with it as a bank. He taid the bank was harshly treated in having to pay 40 per cent of the whole income tax collected from the six banks in the Colony, and a change in the law was ne« cessary. Tho Colony was on the whole prosperous. The report was oarried un* animously, and votes of thanks to the Directors and the staff, carried by nnani* mous consent, concluded the business.
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Bibliographic details
Feilding Star, Volume XV, Issue 77, 28 September 1893, Page 2
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170The Colonial Bank 7 PER CENT. DIVIDEND Feilding Star, Volume XV, Issue 77, 28 September 1893, Page 2
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