THE BANK OF NEW ZEALAND.
London, Dec. 10
A great sensation was caused by Mr Buckley’s statement at the annual meeting of the Bank of New Zealand, which has just been published here, The Financial Times denounces the alleged deception which has been practised, and thinks it would be only fair to convene a meeting of the shareholders to consider the situation. The speech has created a panic among the depositors, and it is suggested the Government of New Zealand should interpose, otherwise the only hope tor the bank will be a resolve of the English directors to carry through at any cost, It is also suggested they should send a delegate to the colony to report. A section of the Press strongly condemns the disclosures made by Mr G. Buckley at the annual meeting of the Bank of New Zealand. Shares baye fallen £2.
Dec. 11.
The Bank of New Zealand ask British shareholders for proxies to enable the head office to be transferred to London,
Bank of New Zealand shares, old issue, £7 ; new issue, £lO. The depositors in the Bank of New Zealand are calmer to-day; and it is hoped that they will be pacified. The board of directors will issue a circular to-morrow.
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Temuka Leader, Issue 1982, 14 December 1889, Page 1
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207THE BANK OF NEW ZEALAND. Temuka Leader, Issue 1982, 14 December 1889, Page 1
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