THE BANK OF NEW ZEALAND
London, July 8. '1 lie Assets Company in connection with the Bank of New Zealand will shortly be announced with 750,000 pre. frrence shares and 850,000 ordinary. One million and a halt worth of debentures have been issued for the purpose of taking over th t gloio assets of the bank. The whole of the debentures hav* been subscribed by leading city houses, including Baring Brothers and Co., Glynn, Mills, and Co,, and Schroder and Co, The Bank of New Zealand will nominate two of the directors in the new company, and the debenture-holders three. The manager of the Austra'ian and New Zealand Mortgage Company will probably be apiointed manager of the Assets Com- ! pony. The general feeling in the city
is that as soon as this matter is settled the bank’s troubles are over. The shareholders of the bank will meet early in August. The Right Hon. 0. T. R. Ritchie, M.P., will be trustee in the Assets Conapaay, and Mr D. Hean, one of the directors.
The Assets Company, after dividing the stocks of the New Zealand and Australian Land Company, propose to reduce their capital by £IOO,OOO.
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Temuka Leader, Issue 2071, 12 July 1890, Page 3
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195THE BANK OF NEW ZEALAND Temuka Leader, Issue 2071, 12 July 1890, Page 3
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