BANK OF NEW ZEALAND.

Auckland Star, Volume XLVI, Issue 144, 18 June 1915, Page 2

BANK OF NEW ZEALAND.

1 fßy Tplpgraph.—rross Awocintlon.) WELLINGTON", this day. A| tlie minim] mei'ting of the Rank of 1 Now Zealand thie afternoon, Mr. Martin s Kennedy seconded tlie adoption of tli» • report ami balanco-shrct. lit , com--1 montoil uppcially on the fact thai, tlio reserve fund had rrncUi'cl tlu> two million mark. At one time lie was opposed to the (iovenimcnt. bp'niji permit tod to } tnke up shares in the hunk, hut eireumutanco" had made a radical' rhansii , in his viowe in this rwport, ami Tie w:ie now prepared to admit Hint rmnbination with tho fJovernmont w:i< calculated to '' athipve tlie be-a results. Mr. S. Kirkitildio eriticiwd tlio iraJtincet rtlippt with particular rofnroncp to the , j failure of the (lireetom til ime i milHon ftiia-ttintcod stock. Mr. Rcaucliamp, rcjilvlng. <*.iid it would „ liavd liiM'ii had hiisinii-K to pay 4 per eenf. per aim inn for fruara n tpril stoi'k > when the rulinjf rate on the 1/ondKin tnjlT- » kpt for money at phart. call amounted , (HMfnsioimlly to <inly 1 per <-ent. 'Die Wilroln iuuoiint. of Hip. jjujiimntccil stock . could have been unctpnvrittfn ;it 1 |>or cent., hut the dinx-tors dei-i,led not to - accept tlii». and |in>.-ef,|,.d, by nrpotin--It Kin with holders, to renew tlir stock. A i total of €.V»K.|ISS wan renewed uit'iout ■ i'o»t U) the bank. .1 The ippurt «ap ittiopl-fHI. Kxtrneto from the report :irp pnlilitthc-l nil p:iyiH li and 7.