BANK OF NEW ZEALAND.
It is expected that the Government will this week bring down a Bill dealing with the Bank of New Zealand. Such a Bill is rendered necessary on account of the fact that the Government guarantee to the Bank is expiring. The shareholders were desperately anxious to raise fresh capital and to rid themselves entirely of the Government. In view of the result of the Supreme Court proceedings, however, and the resistance of the Directors of the institu-i tion, such ft proposal is optional
with the Government. In wellinformed circles it is stated that the Government intends continuing its guarantee, which will mean a participation in the profits as well as the management of the Bank. It is thought, however, that Parliament may be asked to grant the shareholders increased representation on the directorate The discussion on the Bill will afford members an opportunity of dealing with the whole system of banking, as it affects the Dominion, and an interesting debate may be looked forward to. [Since the above was in type, the Bill has been introduced and read a first time.]
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Wairarapa Age, Volume XXV, Issue 10713, 3 September 1913, Page 4
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185BANK OF NEW ZEALAND. Wairarapa Age, Volume XXV, Issue 10713, 3 September 1913, Page 4
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