The Feilding Star, Oroua & Kiwitea Counties Gazette FRIDAY. DECEMBER 3, 1909. " Decidedly Good."

Feilding Star, Volume IV, Issue IV, 3 December 1909, Page 2

The Feilding Star, Oroua & Kiwitea Counties Gazette FRIDAY. DECEMBER 3, 1909. " Decidedly Good."

Tins is the optimistic conclusion ot Mr Harold Heauchanip, Chairman of Directors, in reviewing the Dominion's outlook before shareholders at the half-yearly meeting of shareholders of tho Hank ol -New Zealand to- ' day, as reported in another column. The figures presented by the Chairman show that the Hank is once more on a solid basis, is flourishing, and has done remarkably good business of late. Its Chairman- naturally has a word to ssiy against the proposed banking legislation, under which the B.JS.Z. will have to contribute sonic .£15,000 more per annum to "the State's exchequer. It is interesting to learn under this head that the Hank's taxation last year, including rates paid to municipalities and local and public bodies. w;s £35.640, a pretty substantial amount in the aggregate, but it is tiistrihutcd over many branches. Mr Hoauchamp does n r ot agree with those people who have claimed during the period of depression that the banks had not come to the assistance of business men us flu-y should have done. "It *> not the duty of the banks to advance against all and every kind ol security." And he adds .that last year the banks helped their customers liberally, ''and to this is largely due the fact that the depression was mild and of short duration." The Chairman is now convinced that the bankers of the Dominion .pursued the right course during the past twelve or eighteen months, as "was proved to some extent by tho easier tendency that now prevails in tho local money marker, and ho assures us that the banks are now in a much stronger positiq.ll, and are quite capable of furnishing all the legitimate "banking accommodation that might ibe required. At the .same time, "Caution" is again Mr iSeauchamp's watchword for the individual and the community. Tho prospects before, us, he says are decidedly good, but he cannot refrain from uttering a warning note. "Caution must continue- to mark tho policy of the trading community, and the land specula-tors throughout the Dominion must ondeavour to moderate their views on values." . This is a wise and sane line to t : ako, for there is not the slightest doubt that New Zealandena for years past have been and will bo i'or years to como handicapped in their work and operations by the very high hind values in tho country districts as well as in the toAvns and cities. We have parsed over -Mr Beauchamp's interesting review of the outside world, ill which we are pleased to see he notes a distinct revival in trade. Our readers can note the details for themselves: "We have on previous occasions appraised its Chairman's value to the B.N.Z. highly. He is a Now Zealancler, he is in ithe prime of life, he has developed with the Dominion as a man and as .a commercial factor, and a decade repent in the directors' rr/oni of the Bank has given him an unusual experience. Mr Beatichamp happens, also, to be one of- those men who are born bankers. Of a r.w.guino and optimistic temperament, yet he has the rare and saving gift of judicious caution which does not deprive such a ji at ure of courage. It would be difficult t«o value Mr Beauchamp in round figures as nn asset to the 8.N.Z. , for in addition to the items noted above he .has 'greatly added thereto during his three years sis Chairman of the Board hy extensive

journeyings to make himself familiar with the details of a. business to which, we should say, lio would be happy to devote, the greater and the |,ONt- part of his life. Ho has, we should say, alreadyu a greater knowledge of the branches and of the inside business of the bank than any previous Chinnau, and this has meant „ <rreit tax upon even his dynamic energy «.ul interest. Wo therefore think the 8.N.Z., which is and should he in the forefront of .the Dominion's 1,-uiking institutions, is to be congratulated upon its good fortune in having such a strong guiding hand as Mr Harold Ueauchamp.