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MR HEAN'S REPORT. IT IS VERY FAVORABLE. [per. press association.] Later. t The following is the text of Mr Heari's message to the London Board of the Bank of New Zealand :— "I make the nett deficiency L 165,000, namely, additional loss on ulobo assets at {December last;\'L349,Qoo ;;,^osS .on current "linsiness;' mainly on - old'-faccounts, as at> 24th February last, L 54,000; Sydney defalcations L 28,000. Against, this., there are—surplus on Bank premises, L" 150,000; at credit;; of sundry suspense Jtcqpunts,-; L 16,000 ; and a total of undivided profit, including the March half-_yearly : balance, of LIOO,OOO. " Fresh valuations have bfeen obtained of allocation properties; by per-; fectly independent'valuers, whose opinion' will carry weight in the colony. I have not obtained outside valuations* of' New Zealand, t<own. ,and suburban, properties, •but I 'liave personally examined many of them, and in all cases revised and/ where necessary, modified the 1888 valuation upon ; the evidenc -■ r-f o\v!''i' values., The Australian \-:- ■[■■•■\i ■• '. .■■■ all been valued . ( by . } outside, reliable " \ valuers. These amounts KavebeenWrnved at after. Ciireful investigation, and represent to the best of my belief the true, and- .-actual position of the Bank as far as it is possible to aspertain it."'] The .'current; 'business is/ sound and good, and the connection most vn I;:r,V i :.'.■} civiV-li": of/indefinite exten-, ■: ■:. •■■■ ■■;.■.'.:.:.■ '■■ sourcrs and efficient management." __5_T \>-■''; „'* \

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Bibliographic details

THE BANK OF NEW ZEALAND., Ashburton Guardian, Volume VII, Issue 2432, 17 May 1890

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THE BANK OF NEW ZEALAND. Ashburton Guardian, Volume VII, Issue 2432, 17 May 1890

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