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A) HINT BY THE CHATCMAN OE THE . B.N.Z. ; . An important, if somewhat, indefinite announcement regarding the 'Bank of New Zealand was made by the chairman of the Board of Direotors (Mr. Harold Beauchamp) at the annual meeting of the ■ proprietors of the bank yesterday. Mr. Beauohamp's statement ran as follows :— "The question of the re-arNngenient of th© banirs capital and reserve fund has lately engaged; the. serious consideration ■ of the board, and tentative proposals have been, discussed with a view-to securing the introduction-' of legislation during the ensuing session of Parliament which, if given effect to, will be of mutual benefit to the Government and the stare- . holders. In the meantime, pending the decision of the Government, I am not at liberty to disclose the nature of proposals, hut I have no doubt that if they are passed by Parliament in the form, to bo submitted by the board, they willl meet with your approval. There is no intention to materially alter the status quo as between the Government and tie shareholders.
"As a result of this announcement, I venture to hope that the publio will not get too exalted an idea of the value of the shares."
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Bibliographic details
Dominion, Volume 13, Issue 227, 19 June 1920, Page 9
Word Count
200MORE CAPITAL Dominion, Volume 13, Issue 227, 19 June 1920, Page 9
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