THE COLONIAL BANK.

Feilding Star, Volume XV, Issue 274, 29 March 1894, Page 2

THE COLONIAL BANK.

I\ a previous issue we gave a resume of the report to be presented at the meeting of Shareholders of the Colonial B.ink held yesterday. In moving the adoption of the report the Hon. George McLean, chairman of Director-;, said tho experience of the Bank during the Australian crisis confirmed the soundness of the policy carrif-d out by the Directors for six years iv restricting the amount accepted on deposit in London — a policy which they were now reaping the harvest of. tJusiness in New Zealand was fairly sound notwithstanding that the harvest yield had been deficient, kauri gum had fallen ofF in value, while the prices for wool were not equal to expectations. On the other hand the strides made by the frozen meat trade gave assurance of the continued progress of the colony, in the general prosperity of which the Bank was certain to share. It is needless to say that the report was adopted without discussion. The shareholders are to be congratulated on the prosperous condition of the Bank, also on the fact that Mr Larnach has been e'ected to a seat on the Board of Directors. It is well known that the Hon. George McLean is second to none iv the colony as a financier in the proper meaning of the term, but the addition to the Board of so practical and experienced a gentleman as Mr Larnach, must be a valuable help in furthering the prosperity of so purely a local institution as the Colonial Bank of New Zealand.