BANK OF NEW ZEALAND ESTATES COMPANY.

Temuka Leader, Issue 2091, 28 August 1890, Page 1

BANK OF NEW ZEALAND ESTATES COMPANY.

j (Auckland Ifierald : i Our London corresponded writing jon July 12th, 1 eays ‘‘ Jof the Bank bf lactively negotiating' iLondoti cariifcklistis for the ff|thiatiliiDr jof a powerful 1 Stake, river tHtf'bknk’a responsibility ini (regard 1 to the globb aissrits. Mr Head Ihks " Satisfied'khSrie' Bir report 1 pufr! the‘ wprßt pHasii of Th'b| bank’s positiori thebli arid? that while; there is ! nothing wbrie’to be apprehen'ded theriß afe 1 StrJng’fSaiteiiV for to the n future! ,J The l splonflid the bank atarids business in the* colony 'h'ap' prodlfced'dj deep" impressied, I have j/ nekrd| it' iasserted j bank 1 is 1 wof tk £506,000.’ jThe’ApSetsj | company, I uridefatarid, is viftriklly' formed, arid the pf bspectris will tie out next week. Every confidence 'is | entertained that it; will be !as a capital investment for thoße'who: ! take "the debentures. i financial features of the company have ; already been dishldßrid by caWe to[you. ! The”debenture , capitaT haa ,B®®h’®ub- ‘ scribed, and at the eipresi’wish of tHe debenture-holders Mr D. Hean Will i almost certairily ’cdrisorit 1 tri abt upon |the 1 directory. Ini 11 Mr 'the' cbinpany will secure a manager'pf 1 vast I experience, and with 1 a'repritatirin for I successful finance which will go a great way' withncity.)men. I. understand ! that! the bank will be protected, so that it will benefit by thealmoit inevitable advance in value of the globo assets. On the completion! of transition, it;is believed the bank will ba placed at a bound in; a thoroughly satisfactory position again.'/ There are : some | details vet to fix up before the selection iof tall the directors can be'made; for the new company, ; but you; will have’ beard the details and; particularsmby cable 1 long before this;letter can reach; iybu. Tit is understood t here that Major George, 'will represent the i coria pany iri- the .colony as bne ■ of* the Board;!and!will leave for New Zealand after .the meeting, of shareholders 1 of the bank has beennheldtafcttHerend bf ;ArigUSt>rioxtv-r. ft.!’';;' . One oft woof thelower clash financial papers continue to publish; " bear!” articles about!thebaaki shares are rather depressed in cbusequence, the/newibeing quoted' to-day at £7 IDs and!; the old at £s; l 'los,‘ but! an improvement ; in; price is ’ fully anticipated after 1 the ! fioating' of -the Assets Ceaapariy.