TO BE CHANGED.

Hastings Standard, Issue 233, 29 January 1897, Page 2

TO BE CHANGED.

It has been clear to every one except those immediately interested, that if the Bank of New Zealand was to command the confidence of the public, drastic changes in the management of that institution were imperative. The need of a change was recognised by the House Banking Committee, and the recommendations of the Committee were embodied in a Bill introduced by the Premier in the closing days of the session, and which failed to become law. Most people expected that those covered by the Bill would take the hint and voluntarily retire from the institution, but the expectation has not been realised, and no change has taken place. The report of the Liquidators of the Colonial Batik appears to have roused up the authorities for, according to a Wellington paper, some important changes in the management will presently be made. We take it that " important changes " means shunting some of the higher oflicials—if so, the change will come none too soon. We do not anticipate that the important changes will amount to much, probably a teller or two will be transferred, and one or two promotions and dismissals made among the lower order of clerks. It is in the upper circles of tins Bank management that changes are needed, and we have plainly indicated in a previous article who should be discharged. There, is no doubt that Mr Watson, the President, and Mr Mackenzie, the (leneral Manager, have been too greatly over-rated. Their b tsiness capacity, judging by what has recently been made public, is of a very common order. Better men are needed to pull the Bank through its troubles ; at any rate they are not the men to inspire confidence.