BANK OF NEW ZEALAND.

Taranaki Daily News, Volume XXXXII, Issue 39, 17 February 1900, Page 3

BANK OF NEW ZEALAND.

HALF-YEARLY MEETING. [PEK PRESS ASSOCIATION.] Wellington*, February 16. t The half-yearly meeting of the Bunk of New Zealand was held this moning, when about a d(zm shareholders were present. Mi. Blair presided. / After referring to tho resignation of Mr. Tegetmeier, general manager, and p tbe appointment of Mr. Embling as his v successor, Mr. Blair said the business f< of the Bank during the half-year had K been prosperous, and it was singularly g gratifying that while other parts of the a world were feeling financial distress p this colony was froe from trouble, He I took this to mean that the position of the colony was sound. Indead, it had t never enjoyed a more prosperous time. I With the exception of dreJgiug works - e now in progress, there was notl ing in ® t.he shape of speculative business in _ New Zealand, and in this diedging the returcs on the wholo will more than meet tho interest pn capital, so the colony was not likely to be a sufferer, r One disturbing influence which might tend to aflect institutions of this kind f was the Transvaal war, but so far as he * could see it was going to stimulate trade in New Zealand. When the war was over trade with the Transvaal and South Africa generally would be largely . developed, and more than recompense the colony for any money we are ex- / pending in connection with it. In addition it would be a splendid advertisement for Now Zealand. Though the successful half-year's business had ' no great significance for shareholders, he hoped the time was not far distant when they would participate in the Bank's prosperity. Questioned on statements which ap- : peared in a letter in a local paper on i ' Ist instant, the President said he was ■ I not prepared to give an answer, as often : such letters were written for political 1 i purposes, and certainly not with the in- » tention of aiding the Bank. All he > would say was that the Bank was doing j a large and profitable business, and it was a pity that the institution in for- > mer days was not in the hands of those * who could have conducted it properly. | Mr, Kebbell, a shareholder, spoke of the Premier being in the position of , seller and buyer —seller as a member of ' the Assets Board, and buyer as head of the Government. * s Mr. Blair replied that the Assets Board was doing good work, one estate j alone realising recently £IOOO over the 0 estimate, and he said no person in New = Zealand was more anxious than tho Premier for the success of tho Assets Board in its connection with the Bank.