BANK OF NEW ZEALAND.

Lyttelton Times, Volume CV, Issue 12427, 16 February 1901, Page 5

BANK OF NEW ZEALAND.

THE HALF-YEARLY 'MEETING. [Pee. Press Association.] WELLINGTON, Feb.. 15. The half-yearly meeting of the Bank of New Zealand- was held to-day. Mr Blair presided, and there was a large attendance of shareholders. ' The Chairman said that it being a statutory meeting, no accounts would be, presented. He went on to say that the hopes held out by him -at the annual meeting for the future of the bank bad -occasioned large purchases in shares,, a result he had not anticipated, as he only intended his remarks to be a hint to shareholders not to throw away Their shares. ‘He intimated that from to-morrow transfers of shares, etc., which had hitherto been executed free would have to hear the usual burden of 2s 6d for each transfer. With reference to'the bank’s position, he was’ glad to say his forecast at the annual meeting was likely to bo realised. The business had been extensive, and the bank was in a very prosperous condition. He could not give definite figures, but during the half-year the public had . shown, every confidence in the bank, deposits having increased by over £600,000. Advances, too, had been largely increased, probably by over £300,000. The colony, he said, was never in a more prosperous condition than now, and he referred to the increase of products, every new one of which had its influence as to the stability of the colony as well as on the bank.' The markets an South Africa offered a. splendid opportunity for producers, which he thought would increase if they could only terminate the wretched war., At the last meeting be had mentioned that he did not think land values would be • maintained, but experience did not support his opinion. As showing the condition of the colony, he declared' that a large amount of the bank’s business waa now cash where formerly it was on credit. On a ballot, Mr Watson was elected a director, and the meeting "ended.