THE BANK OF NEW ZEALAND.

Lyttelton Times, Volume XCIII, Issue 10600, 8 March 1895, Page 5

THE BANK OF NEW ZEALAND.

COMMENTS BY THE ABGUB. [Special to Pbbss Association.] MELBOURNE, March 7. The Argus says that the occasional display of unreasonableness by the public in regard to banking matters is now being illustrated over the Bank of New Zealand loan. The public professes to be surprised to find that investments do not yield 4 per cent, and dissatisfaction is expressed because every bank ought to keep large available reserves not engaged in ordinary business. If then, the Bank of New Zealand, by investing such securities in British consols, can reduce its holdings and gain interest, it follows that the complaint about 4 per cent stock being employed in part at a lower rate is illfounded. At the same time it would be very impolitic for Australian banks to invest largely in local issues, which, having only a limited market, would not be available in case of need. This consideration points to the desirability of all Colonial Government issues being internationalised, at least to the extent of the United Kingdom and the colonies. If the Bank of New Zealand never committed a worse error, both its friends and enemies may let it go scot free.