BANK OF NEW ZEALAND.

Wairarapa Daily Times, Volume XV, Issue 4764, 4 July 1894, Page 3

BANK OF NEW ZEALAND.

Favourable Option> o] tk New Arrangement . Memotok, July 2, M J. B. Patterson, Premier, eulogises the action of tho New Zealand.Government respecting tin Bank of Now Zealand, whichhe consiclers to bo statesmanlike. He ndd? that if the Victorian Banks had . -«W togothor Inst year they would "fo been assisted, but thoy would W and there were too many for the trovenmient to deal with. Auckuxd, July 2. .4, telegrams were sontouton Satur- -• My from the Auckland oflico of the Bank of Now Zealand to all the branches throughout the colony, Answers wore received from nil quarters to the offret that tho passago of tho Bank of Now Zealand olmre Guaranteo Act was received *y with satisfaction. There wns nc T disposition to withdraw deposits. mi r. London-, July 2, It tho English shareholders in the Bank of New Zealand are assured t»at no cnll will be required, tin (wjto o may bo regarded as success' Tho bankovs and brokers approve At he removal of the head office fa ■ ■■■ Wellington. They consider tho money can bo easily obtained in London. Ir order, however, to properly under stantl the position, the full text of tin Act is required, as the cablo mes sages received are ambiguous nn< : the exact position cannot he under stood, A in Tll ° f d sl " lres n ™ 'I ll0,e(1 nt & m, and tho now issue at £3 ss, Tho Bank of New Zealand dirootors do not approve tho removal ol the head oflico, if it is intended te transfer it from London to Wollin*. ton. ° Financiers approve tho Bankol flow Zealand Shave Guaranteo Act they consider it will greatly strong . then tho institution and virtually create a State Bank,