BANK OF NEW ZEALAND.

Evening Star, Issue 11167, 16 February 1900, Page 2

BANK OF NEW ZEALAND.

AN OPTIMISTIC OUTLOOK.

WELLINGTON, February 16.

The half-yearly meeting of the Bank (if New Zealand was held to-d;i.y. About a dozen shareholders were present. Mr Blair, President of the. Bank, presided, and. after referring tn the resignation of Mr Tegetmier. general manager, and the appointment of Mr Kmbiiny as successor, said that the business of the Bank during the halfyear had been prosperous, and it'was singularly gratifying that, while other parts of the world were feeling the financial distress, (his colony was free from trouble. He took this to mean that the position of the colony was sound, a.nd that it had never enjoyed a more prosperous time. With the exception of the dredging works now in progress there was nothing in the shape, of speculative business in New Zealand, and the dredging returns o-i the whole would more than meet the interest on capital, so that (he colony was not likely to be the sufferer. One disturbing influence which mjght tend to affect institutions of this kind was the Transvaal .war. but so far as he could see it was going to stimulate trade in New Zealand. When the war was over trade with the Transvaal and South Africa generally would be largely developed, and would more than recompense the colony for any money it was expending in connection with it. In addition, it would be a splendid advertisement for New Zealand. Though successful, the half-year's business had no great significance for the shareholders, but he hoped the time was not far distant when they would participate in the Bank's prosperity. Questioned on statements which appeared in a letter in a local paper on the Ist inst., the President said ho was not prepared to give an answer, as often such letters were written for political purposes, and certainly not with the intention of aiding the Bank. All he would say was that the Bank was doing a large, good, and profitable business, and it was a pity' that the institution in its former days was'not in the hands of those who could have conducted it properly.

Mr Kibble, a shareholder, spoke of the Premier being in the position of ;i seller and buyer—a seller as member of the Assets Board, and a buyer, as head of the Government.

Mr Blair replied that the Assets Board vers, doing good work, one estate alone realising recently £IO,OOO over the estimate, and he said that no person in New Zealand was more anxious than the Premier for the success of the Assets Board in their connection with the Bank.