SECOND EDITION Wairarapa Daily Times. [Established 1878.] MONDAY, JULY 2, 1894. THE BANK OF NEW ZEALAND.

Wairarapa Daily Times, Volume XV, Issue 4762, 2 July 1894, Page 2

SECOND EDITION Wairarapa Daily Times. [Established 1878.] MONDAY, JULY 2, 1894. THE BANK OF NEW ZEALAND.

Wk live in days when ovonthe Bank of England lias laid ; itself. open: to criticism, and wlion only very, very strong institutions conic off scath. , less.'. There wns a timo, when the Bank of New Zealand was osteomed a''very strong institution, but a parcel'of foolish directors up Auck--1 Iniul way fooled Way its cunital, and it bad to begin de novo with. fresbfunds and a London directory. People hoped much from this London : directory, foi' there were' : capable business men'-upon it, but events. linvb proved either that their capac•ity. ivns over-estimated, or that even capable inch iu London cannot man- . ago n bank lit tlie Antipodes. They '' sent'a.rawingor- out here to take ; cliavgo of their affairs, and the iin- ' prcssionscemstobo that tlio ulioicc wasiiotaliappyono',' At any rate tho London directory bus failed, although in tlio main, it worked on business lines. The capital of the bank was insufficient for its business, and this was a, dilKculty r which should have been forseen and - provided for from the outsot; Appar- : cntiy a crisis'.has:"arisen.in the 1 .Bank's affairs"which neither the . directors'nor their manager"could ;■ tide"ovw, ptl itivas left to Sir old ofliopr of tho institution, who bears a ijlglirpp'utfttipn for ■ integrity arid ability, to put affairs e 6traigbt.;Howhe'nppealedto,tbeGoverninent, and how tluV Guvernment ' came promptly to the rescue is now; a matter of history. Tlie Bank is nut on i(s feet and will open the third chapter In Its career with a directory in Wellington find .a State supei'vifiion, Will tnerPbe a fourth 6 ,in which; the Hank will become a State iiistitution puro and simple ? , This we think will deponduppii, the! new directory. If the shareholders pickgobd : business nioii, •nnd;,iSuoh. e men are undoubtedly available in I' Now Zealand' there ' is nothiiig'to prevent tlio Bank from rapidly, re-, :'; jraiiiing'itsprcmierposition amongst the' Banking institutions of the Col--IHV- It lnv 8 / sown its wild oats long late troubles- have:, only Bpjen from'in.sufh'cienfc capital. Now ! it starts again wii'li ample' resources' and a good; business connection. j- Eveiy 'point seems to be in its favour' : provided a strong directory be npy by 'tlie' Shareholders, The IfeingtonrMaiiawak Company has jjiat Wellington can fui'hish ■ftug it'ipppforjV ; ft it' supplies ■bfoi' tließank, tiio.lnWcj'.nf'ayyßt! the question of .its coiiStateor Niitionhlßaiik I 'as'ameasure , of r prac-