THE BANK OF NEW ZEALAND.

Auckland Star, Volume XIX, Issue 204, 30 August 1888, Page 4

THE BANK OF NEW ZEALAND.

As will be seen by advertisement elsewhere, the Bank directors • have called a spepial meeting of shareholders for the 3rd Of October, to receive the Committee's report and for other business, more especially t 0 authorise an increase of the capital of the Bank. We think there will be general agreement of opinion that the more or less of discredit entailed upon the colony and colonial institutions by excessive borrowing, the depression, andother.circumstances of recent years, renders the strengthening of the Bank's position by the subscription of additional capital, a movement to be commended. The other large banks in the Australian colonies have all found it necessary from time to time to increase their capital,and that of the Bank of New Zealand, measured by the amount of the capita! of those other banks, is inadequate to afford that confi. dence in its stability which is essential to the progress and prosperity of every banking institution. A circular recently issued by the Committee informed shareholders .hat they had reason to believe that a part o f, or all, th#*capital wanted would be subscribed in London. This we think extremely likely, but, in view of the dearth of satisfactory investments for money 'in the colony at present, we apprehend that it will not be satisfactory to existing share i holders if at least a considerable proportion of the new capital intended to be raised is n6t reserved for them.