BANK OF NEW ZEALAND.
London, October 9. The Bank of New Zealand shares have advanced to £ll.
Sydney, Oc'ober 10.
The Daily Telegraph this morning pub'ishes 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 tor 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 the depression in the colony, the latter suffered still more severely through the bank's mismanagement." The paper considers the increasing of capital a wise step, and that if the bank is managed with prudence it will corne through with flying colours. The committee of investigation, it says, is entitled to great praise for the thorough manner in which their work was carrifid ont.
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Temuka Leader, Issue 1802, 13 October 1888, Page 1
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162BANK OF NEW ZEALAND. Temuka Leader, Issue 1802, 13 October 1888, Page 1
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