BANK OF NEW ZEALAND.
« 1 A FAVOURABLE REPORT. PEOPOSED SEDUCTION OF CAPITAL. [UNITED PEEBB ASSOCIATION.] London, 23rd Angnst. The debentures of tho Bank of Now Zealand EBtatoa Company are quotod at half per cont, discount. The report to be presented to tho meeting of shareholders of the Bank of New Zealand on the 28th instant shows that tho sales of properties belonging to the Estates Company valued at £100,000 made since Mr. D. Hean's report was submitted, have realised considerably in excess of bis valuation. The Hon. Q. M. Waterhouss, formerly M.L.C., Wellington, suggests th»t tho capital account of the Bank should be reduced by £300,000, and the new Board of Directors insists on this boing a condition of tbeir~taking office. It is understood that the dirootorß contemplate calling np £3 per share. Out of a total issue of the new shares of the 8ank,125,000 are held in the colony. I spicial. I London, 23rd August. The proposals for rednoing the oapital of the Bank of New Zealand providos for writing off 35s from £7 (hates and 50s from the others, the profit derived from the sale of the globo assetß supplying the deficiency and leaving a balance of £33,000 to carry forward.
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https://paperspast.natlib.govt.nz/newspapers/EP18900825.2.29
Bibliographic details
Evening Post, Volume XL, Issue 48, 25 August 1890, Page 2
Word Count
203BANK OF NEW ZEALAND. Evening Post, Volume XL, Issue 48, 25 August 1890, Page 2
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