NEWS AND NOTES.
In a criticism on the returns of the five banks doing business in New Zealand for the quarter ended 31st December, “ Ninorc ” states (says the Post) that the Bank of New Zealand’s liabilities (■£14,472,362) exceeded the assets by £1,168,541, and he questions the position of the bank. It is generally known, but has apparently escaped the correspondent’s notice, that the banks show only the business done in New Zealand. The Bank of New Zealand has interests in Australia, Fiji, and London. For example, the assets of this bank in London as at 31st March, in the form of “ money at call and short notice, Government securities, and other securities in London,” amounted to £6,710,239, which would not appear in the statutory returns for the Dominion. At the end of that quarter, 31st March last, the Bank of New Zealand’s liabilities were
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Manawatu Herald, Volume XXXIV, Issue 1099, 27 January 1912, Page 4
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144NEWS AND NOTES. Manawatu Herald, Volume XXXIV, Issue 1099, 27 January 1912, Page 4
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