THE BANK OF NEW ZEALAND.

Feilding Star, Volume XVI, Issue 189, 9 February 1895, Page 2

THE BANK OF NEW ZEALAND.

* I The report of the President of the ( Bank of New Zealand, given at the ] meeting of .shareholders in Welling- < ton, and publishtd in this journal yes- ' terday, must have afforded mental relief to a great many persons in the : colony. We take it that the position * of tho Bank was very fairly sot forth, , nothing concealed which the shareholders and the taxpayers of the col- , ony had a right to know, while a judicious reticence was observed un certain points which if made public would ' do no good, and probably some harm. The President, however, piomised < that at the geueral meeting to be held after the next half yearly balance, he would bo more explicit. The very large reserve of coin and bullion held by the bank betrays much caution, not to say a ht'.le fear, but it is better to be on tho safe side even if a certain amount of less is the consequence. ; ho deputation from tho shareholders resideut in Nelson, however much the latter may have felt or imagined they had right on their bide when such de putatiou was appointed, was a dismal failure. The reason was very simple. The "brief " handed to the spokesman by the said Nelson shareholders was drawn up on tho assumption of the existence of certain circumstances, which the report read by the President showed never did and never could hava existed save in their imaginations. When the deputation saw this the leader did the best thing possible, and " left the room," no doubt feeling that he was very much a martyr. We admire the mauly and hopeful speech of Mr B. Ilallensteiu, who enjoys the wll-deserved reputati' n of being a shrewd financier and upright merchant. He fully r< cognised the existence of the depression which now obtains and may be expected to continue through tho winter ; but at the same timo he took a hopeful view of the near future when the country wouli be again prosperous, and the truth must be admitted of his coa eluding remark that " He did not believe there was a country under the sun with conditions of hfo a* pleasant as they wcro in New Zenlaud," al though not always realised in the minds of uiauy of the resiiients born in the colony whose opportunities have not enabled them to visit other countries so as to judge by coir, parison. Under the new nviinc we believe the Bank has bef»:e it a earner of prosperity, but to ensure that it will require the exercise of prudecce, judgment iv assisting com morcial enterprise, and much tact The present head of the institution is known to possess th*se qualities, and the Bank must therefore reap all thy advantages of his services.