CENTRAL BANK.
PRINCIPLE APPROVED. NIEMEYER PLAN CRITICISED. A resolution was passed by the Currency Reform League at its meeting expressing approval of the principle of a central bank, but disapproving of the plan as outlined by Sir Otto Niemeyer.
An address, in which certain features of the Niemeyer report were criticised, was delivered by Colonel S. J. E. Cloaey, who contended that the maximum number of the £5 shares to be allotted ti any ono shareholder should be limited to 100, instead of 1000, as Sir Otto Niemeyer recommended. This, he said, would spread the voting power.
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Bibliographic details
Auckland Star, Volume LXIII, Issue 262, 4 November 1932, Page 3
Word Count
97CENTRAL BANK. Auckland Star, Volume LXIII, Issue 262, 4 November 1932, Page 3
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