BANK OF NEW ZEALAND

Hawera Star, Volume LIV, 14 June 1935, Page 8

BANK OF NEW ZEALAND

MEETING OF SHAREHOLDERS. BRIGHTER FUTURE OUTLOOK. (By Telegraph—Press Association.) WELLINGTON, To-day. A,t the annual meeting of the Bank of New Zealand held to-dav Mr William Watson, chairman of directors, presided and on his motion, seconded by Mr A. T. Donnelly (Christchurch) the report and balance-sheet (published on page 5 of this issue) were adopted. Mr Leu McKenzie proposed a vote of thanks to the directors, management- and staff. This was seconded by Mr E. A, Kellow and carried by acclamation. Mr Watson replied on behalf of the hoard and Mr Dawson (general manager) ou behalf of the staff.

Air Donnelly, in his address, said: “I am among you as layman and an average representative of the community. May I pay a tribute to the trading banks, to their system and policy, to their present management and xo their past prudence in the assembling of resources. In the hard and bitter years now behind us these resources, hidden and disclosed 1 , havo been used to soften when the) - could no longer avert the shock of depression to the nation as a whole. I congratulate you upon, the strength and soundness of your bank and in the absence of any catastrophe wo can. look to the future with security and confidence. Mr McKenzie said! the report and l>alt(nce-sheet showed unquestionably that the country was emerging out of the dark woods in to brighter daylight and certainly should give very much stronger confidence in the finances cf New Zqalnnd. ... I think we owe a- great deal of thanks to the directorate and to the management of this bank that they have stuck to the old banking principles of England, principles that have not been the work of any mail, but the accumulation- of the judgment, thought and care of bankers of very many generations.”