BANK OF NEW ZEALAND.

Patea Mail, Volume III, Issue 270, 14 November 1877, Page 2

BANK OF NEW ZEALAND.

The Auckland Herald referring to the half yearly meetings of the shareholders of the Bank of New Zealand, says ; —Though happily in some respects a matter of form,are none the less important events in the current banking and commercial history'of these colonies. The total figures displayed by the balance-sheet of that institution, at the half yearly meeting held on the 2‘2nd October, reaching’ to within a fraction of tea millions sterling on cadi side of the account, indicate a business of vast magnitude, second, as was remarked at the meeting, to that of only one other bank in the Australasian colonies ; and that a bank which has not only been ten years longer in existence, but the balance-sheet of which is temporarily swelled by enormous Government deposits. Increasing business, in the case of an institution of such extensive ramifications as the Bank of New Zealand* means increasing public wealth, while profits increasing cornmensurately indicate* comparative immunitj’’ from serious bad debts, and consequent soundness of trade and industry, It is a noteworthy point in the Chairman’s remarks that there is no casual inflation of the bank accounts by exceptionally large Government deposits, such as happened at the time the fourmillion loan was floated, and it must be satisfactory to shareholders to find that, notwithstanding the absence of any such adventitious aid, the’resources of the bank are larger than they have ever been before. We observe that the capital which in September, 1875—two years ago —stood at £OOO,OOO, is now £725,000 ; the reserve fund, which was £IBO,OOO, is now £300,000 ; the half-year’s profits, which were £47,000, are now £72,000 ; while tiie coin and bullion, with bills and securities in London—all of which presumably indicate resources immediately available* without trenching upon colonial advances —reach the enormous amount of over four millions sterling. It is a matter of public significance that this progress and evidence of soundness occurs during a period for which many wise people confidently predicted industrial collapse and commercial crisis in New Zealand. The action of the directors of the Bank of New Zealand in adding their increasing profits to the permanent resources of the Bank, under the head of reserve fund, will, we think, meet with general approval : shareholders will feel that their money cannot be better invested than in developing the business of the Bank and strengthening its position ; and the fact that there is now nearly £5 per share so invested cannot fail to give more than an equivalent value and stability to their property. While we congratulate fortunate shareholders, we think it is equally a matter of congratulation to tin's community that Auckland should be ther head-quarters of an institution of such importance and magnitude, and so conducted.

great expense and often at fancy prices, pro cured from England the very best breeds to improve their flocks and herds, and the result was the satisfactory exhibition to which we have referred. . . When we see such large numbers.of competitors so closely rnatehhd that the judges found great difficulty in making their awards, it is clear and satisfatory proof that the improvement has not only been initiated, but that marked progress has been made.” Mr A. Wood, Harbour Master for Patca, has received official intimation of the erection of lights on Portland Island, Cental Island, and Puysegnr Point, which will be exhibited early in 1878. New sailing directions have also been issued for entering the Kaipara Harbor, and mariners are warned that the Galatea Channel is the safest and easiest to navigate. Particulars will be found in JSf. Z. Gazelle of Ist November. Hollrncay's Ointment and Fills —More precious than Gold.—Diarrbeea, Dysentery, and cholera are, through the summer’s licat, carrying off the young as the winter’s bold desttpyed the aged. In the most acute cases, where internal medicines cannot bo retained, tlic greatest relief will immediately result from rubbing Holloway’s Ointment over the abdomen. The xTlction should be frequent and brisk, to insure the free penetration of,the Unguent. TlnVwil 1 calm the excited peristaltic action, and soothe the pain. Both vomiting and griping yield to it ; when fruits or vegetables Lave originated the malady, it is proper to cleanse the bowels by a moderate dose of Holloway’s Pills before using the Ointment. Strangers and country settlers coming to Carlyle, are very often at a loss to know which is the best and cheapest General Drapery and Clothing Establishment in the * district; K. A. Adams’ Cardigan House, offers special advantages that can be met with nowhere else in the district. He keeps the largest and best assorted stock of every description of drapery goods, imported direct—and from the best colonial houses ; which, being bought on the most advantageous terms, and having thorough knowledge of the business, enables him to olfer goods of sterling quality at prices that cannot be improved on any other house in Now Sealant. Every article is marked in plain figure", from which there is no deviation ; so thar inexperienced people are as well served «s the best judges, the terms being net cash, without rebate or abatement of any kind. Note the address —I£. A. Adams ; Cardigan House, nearly opposite Town