BANK OF NEW ZEALAND.

Stratford Evening Post, Volume XXXVI, Issue 43, 26 June 1913, Page 6

BANK OF NEW ZEALAND.

—, o—— z, , . ANNUAL MEETING. A WIARM DISCUSSION. Wellington,, June 20. After Mr H.'Beauchamp had moved the adoption of the Report and Bal-ance-sheet of the Bank of New Zealand (fully reported elsewhere) Mr Martin Kennedy seconded the adoption pro forma. In doing so he expressed regret that the Chairman would not afford an opportunity of discussion on the proposal to increase the capital then, arid suggested that /the. meeting adjourn to next daj in.order that an opportunity he given to go fully into the matter. The Chairman stated the meeting had been called for the specific purpose of adopting the Annual Report and Balance Sheet. Mr Skerrett, in a vigorous speech, atrOftgly resented the Chairman's action in practically reducing shareholders to mere ciphers. Discussion followed between the Chairman and Mr Skerrett in a very animated manner, and finally the Report and Balance-sheet having been adopted, the meeting resolved that "the Chairman leave the chair." This Mr Boauchamp did. A remark from Mr Kennedy as to his treatment of shareholders by their Chairman, considering that they had voted him £SOO for travelling expenses on his visit to England, drew a heated retort from Mr Beauchamp that "he was not to be influenced, bought or bribed by £SOO or £5000." Mr Beauchamp then left the room and Mr Martrn Kennedy was voted to the chair, and shareholders resolved to meet to-morrow afternoon.