BANK OF NEW ZEALAND.

Wairarapa Age, Volume XXIX, Issue 8172, 30 June 1906, Page 5

BANK OF NEW ZEALAND.

GENERAL MEETING. WELLINGTON, June 29. At tbe general meeting of the Bank of New Zealand, Mr Malet, Chairman, deal f ully with the bal-ance-sheet, which shows a profit of £227,329, against £253,930 last year. The progress of the Bank during the last five years is indicated by the following profits:— 1902, £172,501; 1903, £195,590; 1904, £200,303; 1905, £253,930; 1906, £274,329. The Chairman mentioned that owing to the large number of requisitions for transfers of shares from New Zealand to London to register, it has been determined to stop further transfers in the meantime. He concluded w.ith a tribute to the late Mr Seddon, and said: "It is hardly necessary for me to remind you of what deep gratitude the colony owes the Government, of which tbe late Mr Seddon was tbe head. When Sir Joseph Ward was their Colonial Treasurer, on behalf of the Government, he introduced into Parliament and passed into law, 'The Bank New Zealand Guarantee Act.' This and encouraging action was the means of preserving to tbe colony the Bank of New Zealand, as it stands to-day, and avertingfa great flnanoial crisis." Mr W. Watson said he sincerely hoped that when tbe Assets Board bonds were oaaoelled they would see the divdend raised to a per uen which, even then, would be only a small return on tbe money contributed and sunk in the institution.