Bank of New Zealand.
(PEE PBESS ASSOCIATION.) London, July 2. Mr Glynn, Chairman of the Bank of New Zealand, doubts the wisdom of calling up the reserve. * The Financial Times commends the action of the New Zealand Government towards the Bank of New Zealand. The Bank of New Zealand Directors do not approve of the removal of the head office, if it is intended to transfer it from London to Wellington. The Times asserts that the Bank of New Zealand arrangement has been pending for the last three months. The Scotsman asserts that the Scotch deposits have been diminishing for some time, and tbat the Government guarantee places the Bank in a really more solid position than it has been for years. The Financial Times considers, unless the Bank makes default in the new preference shares, no call will be made. Mhlboukne, July 2. Sir J. B. Patterson, Premier, eulogises the action of the New Zealand Government respecting the Bank of New Zealand, which he considers to be statesmanlike. . He adds that if the Victorian banks had stood together last year they would have been assisted, but they would not, and there were too many for the Government to deal witb.
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Bibliographic details
Feilding Star, Volume XVI, Issue 3, 4 July 1894, Page 2
Word Count
201Bank of New Zealand. Feilding Star, Volume XVI, Issue 3, 4 July 1894, Page 2
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