THE BANK OF NEW ZEALAND,

Gisborne Times, Volume XXV, Issue 2177, 5 September 1907, Page 2

THE BANK OF NEW ZEALAND,

AIR. ELL WANTS TO MAKE IT A STATE CONCERN. NO SATISFACTION FROM THE PREMIER. (Special to Times.) -. WELLINGTON, September 4. Air. Poland to-day asked tile Colonial Treasurer whether he is aware that the manager of the Bank of Now Zealand at Auckland is reported in tho New Zealand Herald ■of 13th August as having said that tlio Bank of Now Zealand now had more money than it know what to do with, and if that is so does tho Minister nob think that the Bank should make some reduction in its charges to the public for hanking services P The Treasurer replied that tho mattor is one for the consideration of tho directors of tlio Bank.

To-day Air. Ell asked tho Premier why tno Government consider it would be a wrong act to purchase tho private shareholders’ interest in the Bank of Now Zealand for tho public while they consider it a perfectly proller and right act to compulsorily purcliaso freehold land, private gas, and electric light works, etc. Tho Premier replied that the positions aro not analogous and tlio Government aro not going to bring about financial dislocation throughout tlio colony which such a proposal, if attempted, would involve. Mr: Ell subsequently spoke in terms of strong condemnation of tho policy of a State Order and State Guaranteed Bank being worked so much in tho interests of the shareholders. He would continue to agitate for reform.