OPINION OF THE SYDNEY " TELEGRAPH."

Te Aroha News, Volume VI, Issue 307, 13 October 1888, Page 5

OPINION OF THE SYDNEY " TELEGRAPH."

Sydney, October 10. The " Daily Telegraph " this morning publishes an article on the Bank of New Zealand. In referring to the way the money was squandered at headquarters, it says :—": — " With such influences at work it is almost a matter of surprise, and certainly one of congratulation, that the Bank still exists. It had been the fashion to ascribe the position of the Bank to the depression existing throughout the colony, but we are inclined to think if the Bank suffered from depression in the colony, the latter suffered still more severely ihr&ugh the Bank's mismanagement.'' The paper considers the increasing of the capital a wise step, and that if the Bank is managed with prudence, it will come through with flying colours. The Committee of Investigation, it says, is entitled to great praise for the thorough manner in which their task has been carried out.

London, October 6. The " Statist " thinks the right policy has been pursued, and one calculated fco I'egain confidence. The " Economist" considers the reck" less management of the Bank of New Zealand should be a warning to other financial institutions against advancing moaey recklessly ou properties the value of which has been unduly inflated.