NEW BANK TO OPERATE THIS YEAR.

Evening Post, Volume CIX, Issue 139, 16 June 1930, Page 12

NEW BANK TO OPERATE THIS YEAR.

"A. AND N.Z." PAR SHABES SOUND INVESTMENT.

So apparent has been the need for a new bank that there has been a most enthusiastic public response to the offer of shares in the Australian and New Zealand Banking Corporation, Ltd. The bank has gone to allotment, and it has been decided to issue a further number of shares, at par to New Zealand investors. The exceptional demand for shares in the new bank is based upon sound Expectation of a steady, safe investment and a high rato of interest. Forty years ago, when our external trade was only £.15,500,000 per annum, there wero five banks operating in the country. To-day, with a trade increase of close on £85,----000,000, the number of banks is increased only by one. The Six operating banks, besides building up huge reserves, have paid an average dividend of over 13 per cent., and' in one case a new issue of 100 per cent, premium was recently oversubscribed by present shareholders. Bank shares are always in demand, oven at a substantial premium, therefore this opportunity to get in on the ground floor is particularly attractive. There will be no delay in the commencement of business by the "A. and N.Z." Bank. The directors confidently antieipato that the bank will bo in active operation this year, with branches in the four main centres. Send to-day for a copy of the prospectus to the Organising Brokers, Dominion Brokers, Ltd., 68, Dixon street, Wellington.—Advt.