Page 10 Advertisements Column 2

Sun (Auckland), Volume III, Issue 625, 30 March 1929, Page 10

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Important Statement by THE LONDON AND NEW ZEALAND BANK LIMITED THE PROMOTERS of The London and New Zealand Bank Limited wish to advise the public that this Bank is the only new Bank granted a charter by the New Zealand Legislature. This was effected by special Act of Parliament dated 6th October, 1928, and entitled "The London and New Zealand Bank Limited Act, 1928. The Bank has the right to issue notes under the New Zealand Banking Laws as legal tender in lieu of coin. Banks formed outside New Zealand cannot issue bank notes in New Zealand without the authority of the Governor-General, nor c&n any Corporation be formed in New Zealand to carry on the business of banking in this Country without obtaining Letters Patent, Royal Charter, or a special Act of Parliament in its favour. THE CAPITAL of The London and New Zealanfl Bank Limited is £3,000,000, and under the conditions of its charter, £1,000.000 must be paid up before business can be commenced. This ensures complete protection to the public and to shareholders. The London and New Zealand Bank Limited is not connected with any other new banking proposition. Its Propectus has been set up in type, and a representative of the promoters left for London on 15 th February to conduct negotiations for the underwriting of the very substantial proportion of the capital necessary to obtain incorporation, after which the New Zealand public will be afforded an opportunity of taking up shares at par. The New Zealand Board of Provisional Directors are a group of experienced and successful New Zealand business men who will command the confidence of the investing public. THE POLICY of The London and New Zealand Bank Limited will be to employ the best available banking men with colonial and foreign experience, and*to pursue the road that has led its sister institutions to their wonderfully strong and prosperous positions. As stated above, the proposal is the only one accredited by Parliamentary charter, and those who desire a safe investment combining the prospect of satisfactory returns, are advised to await the publication of The London and New Zealand. Bank Limited Prospectus which it is expected will shortly be announced in the press throughout New Zealand. The Bank will primarily conduct business in New Zealand, and later further afield. THE INTERIM SECRETARIES for The Londoi, and New Zealand Bank Limited are S. M. Hobbs, F.P.A., N.Z., and R. A. Glen. C.A. (Scotland). Public Accountants, 153-1 55 Featherston StTeet, Wellington, and the Organising Broker, Mr. Norman S. Perry. Member of the Wellington Stock Exchange. National Bank Building, Wellington.

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