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Waikato Times, Volume XXXI, Issue 2533, 4 October 1888, Page 2

The report of the special meeting of the Bank of New Zealand shareholders held yesterday, to receive

the repoit of tiie Committee appointed at the previous half-yearly meeting to thoioughly investigate the affairs of the Bank, will be read by most people with much interest, as the posit on of this institution bears more or less directly upon every individual in the community. At first sight the report leaves anything but a pleasant impression ; but on further consideration it is apparent that the Committee have considered their first duty to be to the customers of the Bank, in making so weighty recommendations to the shareholders, the adoption of which will render the position of the Bank unimpeachable. To many people it no doubt will be a question, whether the Committee have not gone beyond what the necessities of the case required, in their estimate ofthc securities held by the Bank, considering the fact that it is well-known that large sums of money are advised in the Sister Colonies as awaiting investments in landed property in New Zealand, and also view of the increased value of our main products, wool, grain and meat, in which a decided and stable rise in price has already taken place. The report also states that capitalists in London, who have applied for £200,000 worth'of the new issue, were prepared to take up a much larger number of shares. With the brighter aspect of business before us, the Committee have wisely reserved a good proportion of new shares for the colonies. Their judgment in this matter will be found to be sound, as there is no doubt the new issue will find eager purchasers in this and neighbouring colonies. Though the bold policy recommended by the Committee and adopted almost without discussion by the shareholders, will certainly have the most reassuring effect upon the public generally, it will beyond this effectually ensure the position and future dividend-paying power of the Bank.