COLONIAL BANK

Hawera & Normanby Star, Volume XXVI, Issue 2687, 29 March 1894, Page 2

COLONIAL BANK

(PEB PRESS ASSOCIATION.)

DUNEDIN, March 28.

The half-yearly meeting of the Colonial ■ Bank was held to-day, the Hon. George McLean, M.L.0., chairman of directors: presiding. The chairman, in moving tbs adoption of tbe report, said the experienca of tbe bank during tbe Australian crisis confirmed the soundness of the policy ■< carried out by the direotors for ek years in restricting tbe amount accepted on deposit in London — a policy which they -J were now reaping the benefit of. Com*-*' paratiyely email disturbance was caused by withdrawals. Business throughout New Zealand was fairly .sound, bat in most districts harvest fields have been deficient, while kauri gum had suffered a fall ia valae, and prices this year for wool were not equal to importations. On the other band, the strides taken by tbe ' frozen meat trade gave assurance of the constant progress of tbe colony. Peopled with a courageons and energetic lace New Zealand was an immense power. Pro* tection would keep her always in iba " foremost rank, and tbe bank was ever sure to share in the general prosperity. ' The report was adopted without diaoaa. eion. Mr Laroncb was elected a director ■ of the bank.