BANK OF NEW ZEALAND

Greymouth Evening Star, 11 June 1937, Page 12

BANK OF NEW ZEALAND

“NATIONALISATION” RUMOURS

[per press association.]

WELLINGTON. June 11

At the annual meeting of the. Bank of New Zealand, held to-day. a shareholder sought information about the total number of applications that had been made for mortgage relief in the Dominion, and also about the number of applications that had been made to 1 he bank. The Chairman said that he did not have tho figures with him. but they could be made available later. Mr Gibbs, a director, took the opportunity of thanking his fellow share-i holders for the very heavy vote they had cast in his favour, in the recent election. He took it that their votes not only indicated their confidence in him to continue to look after their interests, but also indicated that, in their opinion, further changes on the Board at the present time would not be in their interests. During the year, tlie bank passed its 75th milestone, and the Board decided to grant tho staff a special bonus, which action, he fell sure, they would all endorse. Mr. Gibbs also drew attention to a cablegram which appeared recently in the Press, of Mr. Nash making a statement to the effect that the Government had no intention of nationalising the trading banks. That statement, he thought, should dismiss various rumours of late regarding the Bank of New Zealand. “I can only say that i your representatives have no informa- <

lion, and know no more about these rumours than you do yourselves." Mr C. W. D. Bell proposed a vote of thanks to the directorate, management, and staff. He said that it was gratifying to learn Board had seen fit to make a special mark of appreciation. in the shape of a bonus to the staff. Mr Bell made reference to a responsible member of the Government having seen fit to hold bankers up to! ridicule. He thought that was deeplv' ’ I deplorable, though a certain amount of chaff was good for bankers. He

could think of nothing more satisfactory than taking half-a-crown off a I anker at. golf, alter a refusal, earlier in the week, of an increase in the overdraft. .Mr W. E. Fussell seconded, .and the motion was carried by acclamation. The Chairman returned thanks on behalf of the Board, and the General Mantiger on behalf of the staff.