The Bank of New Zealand.
At the Bank of New Zealand meeting, the Chairman said the proceedings were more or less of a formal nature. The figures for the past half year were quite satisfactory as showing a continued improvement and everything has been run’ng smoothly. The Bank had sJisfifbtorily disposed of a few of the old assets taken over under the heading of “ Bank of New Zealand Estates Company, assets in liquida tion,” and since the closing of the books on the 31st March last this account had been reduced by £lll,000. The balance, at September 30, was standing at £82,000. In 1897 this item stood at £580,065. Five thousand forfeited ' shares had been disposed of by tender at £5 Bs, yielding £IO,OOO for addition to the reserve funds. In consequence of the satisfactory result tenders had been invited for three thousand more. He alluded to the successful flotation of the re'cent loan in London, which was an indication of an improvement in the money market and evidence of the confidence reposed in this colony.
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Manawatu Herald, 10 December 1904, Page 2
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176The Bank of New Zealand. Manawatu Herald, 10 December 1904, Page 2
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