THE BANK OF NEW ZEALAND.

Press, Volume LVI, Issue 10269, 11 February 1899, Page 8

THE BANK OF NEW ZEALAND.

«» — HALF-YEARLY MEETING. (PRESS ASSOCIATION' TELEGRAM.) WELLINGTON, February 10. The statutory half-yearly meeting' of t_» Bank of Now Zealand was held at noon Mr Blair, tho chairman, explained that it J was a purely formal meeting, therefore no accounts would be. presented. He wou'rf howevor, made a brief reference to the Bank and its workings. The nresent directors had only been in otKee six weeks, and could therefore not speak with any definite opinio*, and views. The business Of the Bank had " been well maintained, and the volume was increasing. He said that tlie details which go to make a favourable- or uiiiavourablo position, of the Bank were on the favourable side. The reorganisation of the staff waß receiving consideration, and the Board would promise that without being too harsh on tho employees the Board would be considerate in dealing with the question. The plans for the new building in Wellington had been passed, and if it could be erected for tho amount limited by the Board, it would bo of considerable advantage to the Bank, as they could concentrate their local officers under one roof, and there would be a largtj saving in the matter of rents. As to the outlook, ho said that the recent stormy weather had caused them concern, hut the latest information received by them stated -*. that no damage had been done to the crops in the South, which argued well not only for tho Bank but also for the co.cmv. Bank, were only prosperous when the colony was enjoying a prosnerous time. In concluding ho said that tho directors were determined to approach the business in tho heartiest manner in the interests of the shareholders. [By Telegraph;.] . ! (FROM OTTR SPECIAL CORttKSrOXDENT ) WELLINGTON, February 10. I have it on good authority that the *•«• organisation which Ls to take place in c6n. I nection with the Bank of New Zealand is :;'< intended to be effected on the basis of ? 1 bringing the expenditure on salaries, etc. ' ' ■■ down to a set limit. It is intended that ; it shall apply not only to the head office < officials, but to ..nose through the length : ] and breadth of tho colony, though every i effort will be made to prevent anything like < injustice being done. This was made clear in the speech of the Chairman of Directors « to-day, but it was abundantly evident also < that the interests of the Bank must in- V ;■< variably be tihe first consideration of tin 1 Board. < I ; ; _