THE BANK OF NEW ZEALAND.

Temuka Leader, Issue 1983, 17 December 1889, Page 1

THE BANK OF NEW ZEALAND.

London, Dec. 11

The latest quotation of Bank of New Zealand shares are, old issue £7, new issue £lO.

Dec. 12.

The Bank of New Zealand business is normal, and there is no rush of depositors or panic, Freeh deposits are being received, and shares, which are difficult to obtain, are rising. The London directors, in anticipation of the removal of the administration of the bank to London, have sanctioned the sending of an officer to Auckland to examine affairs. The directors fully endorse the views expressed in Captain Colbeck’s letter to the London Board. Dec. 13. In an artie'e referring to the disclosures made at the Bank of New Zealand meeting the Times presumes that Mr Buckley published evidence of bis serious charges, The Standard fears that tb-i circular about to be issued by the board of directors to the London shareholders will intensify the distrust, unless it means to produce a clear unequivocal answer to the disclosures. If this is not intended it considers it would be better for the directors to remain silent in London, The Financial Isecvs eulogises the directors of the Bank of New Zealand for asking for proxies at the annual meeting in Auckland to secure the transfer of the management to London. Mr Larkworthy, in a letter to the Times, expresses himself confident that the transfer of the headquarters to London will restore success to the bank. A circular issued to shareholders savs that it is possible that the globo assets will be transferred to a trust company. The directors are confident that a splendid future is in store for the bank, The London directors of the Bank of New Zealand are very confident as to the bank’s condition, but at the same time have made full preparations to meet any withdrawals whenever made. The members of the Stock Exchange ridicule any alarm being felt by the English depositors. The Economist considers that the directors ought to meet Mr Buckley’s charges with specific disproof, and not by vague disclaimers. Dec, 14. Bank of New Zealand shares are quoted as follows Old issue, £6 to £7 ; new issue, £9 to £lO. The solicitor of Mr G. Buckley, of Auckland, writes to tho Times that he will shortly verify the allegations made at the meeting of the Bank of New Zealand.