NEW BANK TO OPERATE THIS YEAR.
"A. AND N.Z." PAR SHARES SOUND INVESTMENT.
So apparent has been the need for a jicw bank that there has been a most enthusiastic public response to the offer of shaves 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 la New Zealand investors.
' Tho exceptional demand for shares in the new bank is based upon sound expectation of a steady, safe investment and a high rate of interest. Forty years ago, when our external trade was only £15,500,000 per annum, there were 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 buikling up huge reserves, have paid an average dividend of over 13 per cent:., and in one caso a new issue of 100 per cent, premium was recently over-subscribed 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 common cc men t of business by the "A. and N.Z." Bank. The directors confidently anticipate- that the bank will be in active operation this year, with brandies in tho four main centres. Send to-day for a copy of the prospectus U> the Organising Broker?, Dominion Brokers, Ltd,. OS, Dixon slivrt, Wellington.— A.M.
NEW BANK TO OPERATE THIS YEAR.
Evening Post, Volume CX, Issue 36, 11 August 1930, Page 12
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