The Bank of New Zealand.

Manawatu Herald, 29 September 1894, Page 3

The Bank of New Zealand.

* On Wednesday afternoon thp shareholders of the Bank of New Zealand met in Wellington and elected the nominees of Mr John Murray as directors, viz., Messrs W. Booth, M. Kennedy, J. G. Macarthy, Hon. W. W. Johnston and ft. H. Glyn. Mr Murray held proxies represent- j ing 83,000 colonial votes. In speaking at the meeting, Mr Murray referred to the new relations which have been established between the Government and the Bank. This so adds to the strength and stability of the Bank, and will by-andbye tend to add so to its profits, that it is obviously in the interests of shareholders, and therefore, calls for no lurther comment. He felt confident that the Government would make creditable appointments to the office of President and Auditor. Again, it his been said, " The Government will run this Bank. It will bo a political machine. The Government; will know n.H about customers' affairs." This idea, hag, I think, been mainly promulgated by persons antagonistically interested. It is entirely erroneous. The Government will know nothing more about the confidential affairs of the Bank in the future than it has known in the past. Mr Murray said there was a reserve liability of £10 per share and share holders could not transfer without the authority of the president, who must be satisfied that the person to whom they were transferred was a responsible person, able to meet the liability if called upon.