BANK OF NEW ZEALAND.
LONDON, July 12 Bank New Zealand issue stands at 101|.
Underwriting Bank of New Zealand issue completed, subject to condition that it be in the form of stock instead of shares. Directors suggest they should be allowed to issue £lOO stock, instead of shares. Chairman (Glyn) says action of N. Z. Govt strengthens position of the Bank in England. Times says success of the issue is assured.
Bank of New Zealand proposes to issue new capital on Friday at premium of 2 per cent. It is intended to grant optional share certificates, payable to bearer or registered holder. Reply on the point from N. Z. Govt is being awaited.
Opinion prevails in the City that the Bank would have better chance of success if it issued stock instead of shares.
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Kaikoura Star, Volume XIV, Issue 755, 13 July 1894, Page 4
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134BANK OF NEW ZEALAND. Kaikoura Star, Volume XIV, Issue 755, 13 July 1894, Page 4
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