NATIONAL BANK OF NEW ZEALAND.

Hawke's Bay Tribune, Volume IX, Issue 62, 26 February 1919, Page 7

NATIONAL BANK OF NEW ZEALAND.

< A VITAL INCREASED. I LLOYDS BANK SUBSCRIBES. A eircidai has, ,s a y. s a Wellington I contcinpoiai-y, been issued to the I shareholders of the National Bank announcing an issue of a further 100,000 shares, of which 50.000 will be taken up by Lloyds Bank at .£<’> 10 -. which eovt’rs a premium of £3. which the balance wil] be issued to the National shareholders at the ■ il.ine price. At the present time, the, eaiytal of the National Bank is represented l>y ;;<M).o<io shares of 1!:J |lO each, amounting in al! to £750. I "00. The further issue will raise th-.- | capital to £l,f*oo.oni). and the reserve funds, which-are now stated l -° a ” ef l UiV l amount. The following annonncenient con ci'rniim this operation has been in-ad..’ Lv the bank managemcnl ; • I “In order to draw still doser (he ; connection which has existed for itn.-tiiv years between the National i Bank of New Zealand. Lid., ami i Ido.' d- Hauk. I.id., as f h-'ir London •utTikcrs. th" latte'' bare arranged I" subscribe tor 50,11110 share- part of a new is-11,. ~f PHI.OOO sh-ires which will slimily be made by flic former ui—t ii uti'iu. At th'- Mime time one "i the director:- o! Lloyd- Bank, ltd... will join tin- board of the National Bank of Nov. Zealand. Ltd. riiis will m>t. however, involve any change in the -manage, 'pent of t hat, bank v.hidi w ill eon ’ finite as heretofore. The comple t imi of I he new issue will bring the '•iibsci’tbcd capital of tli»- National Bank of New Zealand. Ltd., up to L’IJ if v.o< io. and its published insert e fund up to llm same aiDoiint. The additional 1 icilities thus afforded, ami its closer rela ticnshiii v.ith one of the foremost joint stock banks, w ill place the National Bank in an exceptionally strong po.-ifion." |