Bank of New Zealand.
(PEE FBESS ASSOCIATION J Melbourne, March 7. The Argus says that the occasional unreasonableness of the public in regard to banking matters is now being illustrated by the Bank of New Zealand loan. The public profess to be surprised to find that investments do not yield 4 per cent, and there is dissatisfaction. The idea is expressed that every bank ought to keep large available reserves not engaged in ordinary business. If then, the Bank of New Zealand by investing such securities in British consols can reduce its holdings and gain interest, it follows that the complaint that the 4 per cent stock being employed in part at a lower rate is ill-founded. At the same time it would be very impolitic for an Australian bank to invest largely in local issues, which, having only a limited market, would be unavoidable in case of need. This consideration points to the desirability of all colonial Government issues being internationalised, or at least they should extend to the United Kingdom and the colonies. If, the Argus concludes, the Bank of New Zealand never committed a worse error, both its friends and enemies may let it go scot free.
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Bibliographic details
Feilding Star, Volume XVI, Issue 212, 8 March 1895, Page 3
Word Count
200Bank of New Zealand. Feilding Star, Volume XVI, Issue 212, 8 March 1895, Page 3
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