BANK OF NEW ZEALAND.

Stratford Evening Post, Volume XXVIII, Issue 100, 3 December 1915, Page 3

BANK OF NEW ZEALAND.

HALF-YEARLY MEETING

(Special to “Stratford Dost.”)

Wellington, December 3

The half-yearly meeting of the shareholders in the Bank of New -Zealand was held to-day, Mr Harold Beauchamp, Chairman of Directors, presiding. Mr Martin Kennedy was re-elected unopposed as a Director of the Bank. An interim dividend of six per cent, on the capital paid up in respect of preference and ordinary shares was agreed to, and the resolution passed at the Special Meeting held on October 22nd, effecting alterations in the Bank’s Deed of Settlcent was confirmed.

The Chairman, in the coucsd of his remarks, referred to the war and the great task the Empire has before it. and said that'if the resources of the Empire are to he conserved to the extent necessary to enable them to meet the demands that will in all probability .be made upon them before this war is brought to the conclusion that the interests of humanity and freedom necessitate, the civil population of the Empire will have to do their part by instituting a regime of much sterner personal economy and a wider range of personal industry than have so far been practised. Just prior to. iho commencement of the war, the British National Debt amounted to £706,154,110. On 3lst March, 1915, it stood at £1,161,951,702; and by the 31st March, 1916. it is estimated that it will have readied the stupendous total of £2,200,000,000.

erring to the services rendered tile Empire by the Bank’s stalf, the Chairman said that including London, Australia, and Fiji, they' had at present 164 men on, military service, while another hundred had volunteered, ami arc waiting their turn to be relieved. Thirteen of those gone to the front have lost their lives, and twenty-two have Imen wounded. When all the volunteers have joined the forces, the Bank’s sheet, for men on active service will reach something like £20,000 per annum.

Speaking on the outlook, so far as matters of local concern go, the Chairman remarked that prospects continue good for all descriptions of the Dominion’s primary products. A wider market for wool has beep assured by the conditional , removal of the embargo placed, shoftly after ! the opening of, the war. on: exports of 1 wool to neutral ) , ;. I - i 1 countries!;'' ; • ; ■ ; I ' l

'The pvopcjsiil to give £IO,OOO toi the Wounded Soldiers’: Fund iwas, ap- ? Vf. is,, i proved. 1 : i ' »j • ■ » *