THE BANK OF NEW ZEALAND.

Press, Volume LIII, Issue 9520, 12 September 1896, Page 7

THE BANK OF NEW ZEALAND.

The Hon. W. P. Reeves communicated to Reuters Agency, for publication, the following telegram received by him from the New Zealand Government, and it is accordingly published in The Times :— "Wellington, July 10. "The Premier stated in the House this afternoon that the position of the Bank of New Zealand was impregnable. The balance sheet submitted to Parliament shows a net profit of £52,500. Committees of the Upper and Lower Houses of the New Zealand Parliament have been appointed for the purpose of ascertaining the circumstances which necessitated the Bauk of New Zealand's coining before Parliament in 1894, and to inquire into the position of the Colonial Bank of New Zealand when purchased by the Bank of New Zealand. The order of reference from the Lower Houbc gives its Committee power to inquire into the Bank of New Zealand * writing-off,' but the order of reference from the Upper House refuses to allow this. Both Committees are de--barred from inquiring into the ordinary banking business of any persons or Companies doing business with the Bank of New Zealand. There is not the slightest ground for any anxiety with respect to the position of the Bank of New Zealand. In fact it waa never stronger than it is at present."