RESERVE BANK SHARES
HO ALLOCATION TO CORPORATE BOGIES [Special' to the ‘ Star.’] ' WELLINGTON, February 9. Corporate bodies are not Jikely to secure any allocation of Reserve Bank shares as an investment for their funds. This was made clear to your correspondent by a Treasury officer to whom the question was put. He was also asked whether individuals who obtained shares could subsequently transfer them to the trustees of such funds, and the reply was in the negative. In making this ruling the Treasury, it was pointed out, is following the principle of the Reserve Bank Act, and the intentions of the Minister of Finance, that the half million of shares to be privately held will be in the possession of the greatest possible number of New Zealanders. It is hoped that the community will take a real interest in the now dominion institution, and this is most likely to be fostered if the shares are well distributed among individuals. A corporate body is not an individual, and if blocks of shares can be taken up by it there is no direct personal interest in the holding. Applications for shares from public companies are, therefore, not likely to meet with success.
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Evening Star, Issue 21642, 10 February 1934, Page 11
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200RESERVE BANK SHARES Evening Star, Issue 21642, 10 February 1934, Page 11
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