Bank of New Zealand
Sir, —While there is hurt from the paltry sums of $3O to S4OM denied our health and other services, taxpayers are prevented from knowing what happened to the $1.29 billion which the Bank of New Zealand cannot recover from debtors. At least the similar sum of SIB sunk into the Clyde Dam has not disappeared without trace, yet the problems there, not protected by commercial sanctity, are ventilated as a major calamity. According to the notice of the bank’s annual general meeting on July 26, 1989, business to be considered then includes the matter of the additional capital issue, yet already the shares and rights are being quoted. A Government which can waffle for years about protecting the ozone layer, can move fast to allocate 29.5 per cent of shares to Capital Markets, and sell 20 million rights at well below market prices to “various institutions.” — Yours, etc., VARIANT. WILSON. July 24, 1989." ‘
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Press, 28 July 1989, Page 12
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157Bank of New Zealand Press, 28 July 1989, Page 12
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