BANK OF NEW ZEALAND.

Auckland Star, Volume XLI, Issue 142, 17 June 1910, Page 2

BANK OF NEW ZEALAND.

ANNUAL MEETING. (Continued from page 6.) Telegraph.—Press Association.) WELLINGTON, this day. At the annual meeting of the Bank of New Zealand this afternoon, in seconding the motion by the Chairman for adoption of the report and balance-sheet, Mi Watson said that speaking for himself, he expected ordinary shareholders would next year receive 2A per cent, better return on their shares than they did now. and the expectation was not without tangible foundation. By continuance of the policy and steadily increasing the reserves the position of the bank had been made so strong that shareholders were now entitled to expect what after all would only be 3 per cent, on the £16 13s 4d which each share had cost, and which cost had been used to the benefit, in one way or another, of the people of this country. He agreed with the remarks of the Chairman as to lack of confidence in the country. Mr M. Kennedy questioned the Chairman's statement on the latter question, and said that, instead of there being lack of confidence, there was every confidence in the country. The motion for adoption of the report was carried.