BANK OF NEW ZEALAND.

Dominion, Volume 5, Issue 1480, 1 July 1912, Page 4

BANK OF NEW ZEALAND.

<, THE CHANGE TN THE CHAIRMANSHIP. (Bv Telccropli-Sriecinl Correspondent.) v Auckland, Juno 30. Coininenling on Ihc ex-Prime Minister'* explanation of the cliaiigo in the chairmanship of tho Bunk of >"ew Zealand, the "Herald" s;iys:-Sir Joseph Ward inailo an unhappy effort in the Housi* of liopre.-sitlatras last night to oxplam tho action of tho Government iu pasv inc over All'. Harold M«uicliuiny in the. Inst appointments to thn directorate of the Hank of Now Zealand. M« sot out to deny that tho Government bad been in any way influenced Iff Hip eandoiir of Mr. Boa uchn nip's speeches, but unwillingly turned the denial into an admission of all Hint lirs bwn smd of the (joyernnieutV action in this iwspeet.. Mr. lleauchamp's last mkccli. oft chairman of tho Bank of >"ow Zealand, delivered without political bins, in tho interests of . the country mid of sound business finance was quoted in nuny electorates nsainst candidote? standing in .support of tho Government. Sir Joicph Wards display of feeling over this fact, and Jus admission that a majority of Ministers were not favourable to Mr., Buauchauips rcappointment, supply sufficient information to enable tho public to judge between Mr. Beauchamn and tlie liovcnv meiit. A majority of Ministers, for partisan rontons, were against the rc.i]>poi«'ment. Jlr. Heaueha.iiip was not canvass, ing for tlio position. It is not difficult to understand vhv a change was madq which was not in the interests pf tha ecuntrr. or ef the bunk.