COMPANY AFFAIRS.

Auckland Star, Volume LXVI, Issue 112, 14 May 1935, Page 4

COMPANY AFFAIRS.

BANK OF NEW ZEALAND,

TWO DIRECTOR'S ABROAD.

(I3y Telegraph —Special to "Star.") WELLINGTON, this day

The circumstances of the recent appointment of Mr. A. T. Donnelly, u leading barrister of Christchurch, to the directorate of the liaiilc of Sow Zealand have been revealed. Two directors of the bank are already in England, Sir Harold Beauchamp and Sir George Elliot, both having affaire there which need attention. Sir Robert Anderson, who was appointed Government representative on the board of directors some years ago, was recommended by his doctors to take a health trip, and the chairman of directors found to his alarm that no less than three members oi the board would soon be out of the country. In the circumstances, it was pointed out to the Government that it should find a new representative, otherwise there would be only three directors in New Zealand, which would not be a quorum to run the affairs of the bank. When this situation was brought to his notice Sir Robert Anderson resigned. The directors now in the country are Messrs. R. W. Uibbs, W. Watson, O. Nicholson and A. T. Donnelly. ANTHONY HORDERN.

REMARKABLE RECOVERY. An instance of the remarkable recovery in Australian companies since the depression period is provided by Anthony Hordern and Son, Ltd., Sydney. Within one year and a. half, up to this month, the company has paid preference dividend arrears covering three years and a halt to \u"iist 2!), 1034. These arrears of dividend, partly at the rate of 7% pel cent and partly at Vh per cent less 22'/ 2 per cent, have required £100,123.