WHAT THE SOUTHERN PRESS SAYS.

Te Aroha News, Volume VII, Issue 415, 30 October 1889, Page 5

WHAT THE SOUTHERN PRESS SAYS.

\Yki..lin<!to> t , Oct. 26. Tin. " L'oht " fays: — "With Mr Buckle.v's motives we have no concern, but wo cannot liolp thinking that bobh the manner and method of his action in the matter nin.-t tend to very greatly discount the £i f u\ ity of the ace usation made at the meeting. Theie is one feature in yesterdny's proceedings which is worthy of special notice, and which must do much to inspire confidence and counteract the evil influence of Mr Buckley's remarks. ft is that Mr John Murray, the late general manager, challenged tho accuracy of Mr Buckley's facts, and ha 3 given such practical proof of his sincerity and faith by investing capital in bhe Bank, and accepting the lesponsibilitj of a director's position. Those who know bhe financial ability of Mr Murray, and his thoroughly honourable character and inflexible integrity — and most business men do —will attach the very greatest weight and importance to what he has bobh said and done in this matter. If bhing.s are as Mr Buckley represents them we cannot believe that Mr Murray would have acted a.a he has done ; and no one has> a better opportunity than he has for thoroughly understanding all the points at issue. At the la«t halt-yearly meeting (30th Apiil) Mr Buckley, after an elaborate review ot bhe position and prospects of tho Bank, said, 'Reviewing these considerations, you will doubtless agree that I am justified in taking u confident view of the futuie. I do not look for a " boom " (we don't want booma), bat for steady growth in national piofperity, in which we, as a Bank, as well as individually, musb share.' Why did he use these terms if he then knew what he has now told the public ?" The "Press" says : " Mr Buckley's speech of yesterday is a di.^agreeable episode, but it should be nothing more. It will peihaps increase the difficulties of the Bank for a time, but it leaves ib perfectly sound and substantial, and the removal of the directory to London will complete the wcrk that should not be delayed."

CmusicHURCK, Oct. 26. The Lybtelton "Times" comments on the Bank of New Zealand meeting as follows :—": — " Mr Buckley has exploded his mine, and anxious shareholders can rest a-sured that they now know the worse that can be said against the position and proposals of the Bank. . . . Thebiwncssof the Bank is large and good, and even if the further sum ot £300,000 was required to pub such business on a thoroughly sound basis, we may be sure the capital will be forthcoming in England. That Mr Murray ia perfectly correct in his estimate of the large value of landed securities of the Bank if proper time is allowed for realisation, those best acquainted with the value of landed property in New Zoaland will be piepared to affirm. English capitalists will, wo may be sure, not consider these nmong the least valuable assets of the Bank. In some recent cases it will probably be found advisable to set aside those properties on trust, so that the capital represented by the investment may be lestored to the Bank, and ample time be afforded for realising the properties as opportunity and improving prices offer. On the whole, we are inclined to congratulate the shareholders on the resultß of the lote meeting, seeing that it is the beginning of [ the end — the approach, let us hope, to a better stato ot things."