BANK OF NEW ZEALAND

Dominion, Volume 20, Issue 60, 4 December 1926, Page 12

BANK OF NEW ZEALAND

HALF-YEARLY MEETING MR. W. WATSON REELECTED TO DIRECTORATE The half-yearly general meeting of shareholders of the Bank v. New Zealand was held at the head office in Wellington yesterday. The chairman of directors (Sir George Elliot) presided over a good attendance, and other directors present were Sir Harold Beauchamp and Messrs W. Reece, R. W. Gibbs, O. Nicholson and W. Watson. Messrs. H. Buckleton (general manager) and A. P. Green (chief auditor) were also in attendance. Last of Half-Yearly Meetings. “To-day,” said the chairman, “brings to an end the half-yearly meetings that have been held annually in December since the head office of the bank was transferred from London to Wellington. Beyond being the occasion of the election of directors and the declaration of a dividend, it is difficult to find any other reason for their institution. If there ever was a reason it has long since ceased to exist, and in the recent “Bank of New Z;ealand Act,” the provision for holding further half-yearly meetings was cancelled. Mr. Watson has the honour of being the last shareholders’ representative who will be elected to the board of directors at a half-yearly meeting, and, as there are no other nominations for the position. I have much pleasure in declaring him duly elected. There are, as usual, no accounts to lay before vou, but I have pleasure in stating that the profits earned for the half-year ended September last warrant the payment of dividends similar to those paid for the corresponding period last vear. Dividends will be paid in Wellington to-morrow and at the various branches on receipt of adV *Mr. Watson thanked the shareholders for re-electing him as a director, and said he would, as in the past, give his best attention to the affairs of the institution.