The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER FRIDAY, JUNE 9, 1916. BANK OF NEW ZEALAND.

Stratford Evening Post, Volume XXX, Issue 56, 9 June 1916, Page 4

The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER FRIDAY, JUNE 9, 1916. BANK OF NEW ZEALAND.

The ahUmll meeting of proprietors ot the Bank pf New Zealand was held at Wellington to-day, and, as is now the ' mifctonr/' 'the Chairman, Mr Harold Beauchamp, made a lengthy and im--1 portah't statement dealing in detail witlCiiriance; ; trade and commerce from a-wide standpoint. As regards the 'Bank itself the balance-sheet shows a highly satisfactory year’s operations. Though there is less actual profit on I the year’s working, the ordinary earning power of tjie Bank has in creased in quite a satisfactory manner, as explained by Mr William Watson in seconding the motion to adopt the report. The abnormal conditions caused by the war arc exhaustively referred to, and how war spells waste is very clearly shown. The tables given indicate vast sums that are being dealt with and how Britain has maintained her foremost rank as a financial I’otver, “as the world’s banker, sea-carrier and insurance underwn j ter.” Amongst the lessons of the war, Mr Beauchamp emphasises as ; not the least valuable those learned

by British manufacturers in organisation and co-ordination ol effort. Interesting reference to “war prosperity” is made and how New Zealand has benejitted through the abnormal demand for her products and the abnormal prices paid is indicated. Gains and losses weighed in the balance show, however, that wc are paying in one way or another. Mr Beauchamp says that two vital questions will face New Zealand at the close the war, and they are the state of the produce markets and the s'tate of the money market. He predicts that the values of all our products must naturally be expected to fall, but that there are grounds for speaking with more confidence regarding the money market. As to the latter, there will hardly bo. unanimity, because the borrower and the lender have a totally different viewpoint. The stern necessity for economy is again urged, and it cannot be too strongly urged. There will be a great many problems to face "ben the war is over and there will bo little place for extravagance on any hand.