COLONIAL BANK.
(PEB PRESS ASSOCIATION,)
DUNEDIN, September 27.
The half-yearly meeting of the Colonial Bank was held tbia afternoon. The Hon. G. McLean, who presided, said it was with satisfaction they were able to lay before them a recommendation to pay a 7 per cent dividend, besides placing. £5000 to the reserve fnud and carrying forward £6434. Referring to the crisis in Australia, he said the Bank bad only a sum under £30 locked up. While deploring the trouble of the New Zealand Loan and Mercantile Agency Company, they had nothing to do with the Bank. He said the Bank was harshly treated m having to pay 40 per cent of the whole income tax collected from the six banks in the colony, and a change in the law was necessary. The colony was on tbe whole prosperous. The Mayor (Mr C. Haynes) seconded tho adoption of the report, which was carried unanimously. Totes of thanks to tbe directors and staff, which were carried by unanimous consent, concluded the business.
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Bibliographic details
Hawera & Normanby Star, Volume XXVI, Issue 2542, 29 September 1893, Page 2
Word Count
170COLONIAL BANK. Hawera & Normanby Star, Volume XXVI, Issue 2542, 29 September 1893, Page 2
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