THE NATIONAL BANK.

Hawke's Bay Tribune, Volume IV, Issue 211, 21 August 1914, Page 7

THE NATIONAL BANK.

’ RETIREMENT OF GENERAL MAN.tGr.tf.. ! Mr. J. H. B. Coates, -.nanager lof the National Bank, wa. present at ‘ the annual meeting oi in i London at th»> beginning of July. The ’ chairman (Mr. Ru’wit i.ogrn), m the i course of his remark.; on tue year s ' operations, referred to tin- tact that I tlieir general Juani'isv in New Zealand. I Mr. .Limes H. B. Coates, ho was proi sent with them rlts.it day, had risked tc I lie allowed to retire a.i . a very sacI cr-.n-aiii s-wviee extending over -16 years ; It was with great r. grot that they liaa j accepted hit resignation. List the board i would do their best to ■.etaiti, in some I form or another, his vahiabk eo-opera- ■ tion for rhe b.-.r.cfit cl the bank, i (Cheers.) Mr. (.'nates, who •poke at I length cn the adt ai.-ee that r i<- ban. 'Lad made. dealt interestingiv a i.>, the t progress and present position cf the ; Dominion. M e extract the follow .ng I analysis anil eointaciit on the ci wintry r 1 !i>dehted'’o S s-Araivsing the whole public J'! r N--, Zealand <v L"> '• 000, ■ 00i). the'- !”><i A. • i:d ' ; ‘ p:ir ; ii'g. £28.000 0W: class B. or interest earning, i30.59ii.000. together £58,500.000 : and class C. or not direr-; |y rei nrothictive. £31.590.000. Few ■ j. 1 British colonv —perhaps mon* i»nw i than Great Britain herself —whose * 11S " ! torv of settlement was only <<> ,'eais .population was i. 100.000. whose land "was valued at £ • I.* 'Mi/>6--*. n hose annual orei.ens trade wa> €46.000,000. I and whose unproductive public debt wa® ! only fiM.O9O.IW. This shoit’d appea> | i-oassuringlv to all who had in,esi?d ■ their capital with such a neople in such I countrv. Their position compared ; move than favourable with that of othei self-governing colonies. He ompaasised ■the fact that, of their.£9o.l)oo,ooo ot I Dublin debt, the people of New Zealand j bad provided £17,000,000, or nearly one- : fifth of the total. ■ . I In a concluding reference to the hank i t!m retiring general manager said they 1 wme to-day the proprietors of an inwhose credit st'ood high in the Dominion and which gave them an excellent return on their investment. Tt'eii- reserves gave the shares an ml trinsic value greater than the market ' euotation, the profit-earning power ot ! the bank was never better, and it wa.~ : hi« o-reat pleasure to assure them, without reservation, that tW hns’Ino v was exceptionally liquid, sotu.d. 1 and profitable.