WELLINGTON OPINIONS.

Press, Volume XLV, Issue 7171, 5 October 1888, Page 5

WELLINGTON OPINIONS.

_P_OM OTTS CORRESPONDENT.] WELLINGTON, October 4. Respecting the Bank of New Zealand the New Zealand Times to-day says—" The report is not only a very able, but also a most trenchant one. All the weak points in the past management of the institution are ruthlessly and unsparingly exposed. Indeed, the exceeding plainness and candour with which the Committee have told the shareholders and the world all that was wanted to be • known about the condition and prospects .of the Bank, has few, if, any, ;precedent in the history of banking. This extreme but wise frankness,' cannot fail to have a good effect in more ways than one. It must dispel utterly any lingering fears which still may have remained in the minds of shareholders that they were not to be told the 'whole truth'; that they were to ba merely amused with a vague and encouraging, but specious, picture, which might hold, in reserve unwelcome disclosures for a future date. The proprietors of the Bank are now warranted in feeling a reassuring conviction that they have 'got. down to the bed rock' at last, that they know all the worst that is to be told, and that they have now entered on a new epoch of sound, prudent, and capable administration.'' '■'"'■■ i he Post to-night says:—''ln the report yesterday presented the.true facts were set out without the slightest attempt at disguise, while at the same time means whereby the position can be retrieved were also plainly stated. That the Committee of Investigation have felt that the Bank is strong enough to bear the shock caused by a perfectly candid disclosure of its position, and of the enormous losses it has sustained, furnishes unanswerable evidence of their confidence in its real soundness. It will be an arduous and an uphill task no doubt to again attain the position of being able to pay large, dividends, but there is not tbe slightest reason to fear but that with prudent management this can be done."