FINANCIAL

Manawatu Standard, Volume LVII, Issue 110, 10 April 1937, Page 10

FINANCIAL

BANK OF NEW ZEALAND. At a meeting of the board of directors of the Bank of New Zealand, Ltd., held yesterday in Wellington, Mr Arthur Telford Donnelly was elected chairman for the ensuing year. Mr John Dowgray, of Granity, the newlyappointed Government director, was also present at the meeting. Mr Donnelly is one of the leading barristers in Christchurch, having been Crown Prosecutor since 1921. lie was born in Christchurch in 1890, and was educated at the Marist Brothers’ School, the Christchurch Boys’ High School, and Canterbury College, where he graduated LL.B. From 1916 to 1919 Mr Donnelly served in France with the Otago Regiment. Mr Donnelly is now a member of the firm of Raymond, Stringer, Hamilton, and Donnelly. He is a member of the Canterbury College Board of Governors, and is chairman of the New Zealand Cricket Council. The board at its meeting decided that a bonus of 7i per cent, be paid to the staff. The directors of the Bank of New Zealand announced that, subject to audit, it will be recommended at the annual meeting of shareholders to be held on June 11 next, that a final dividend of Is per share be paid to the ordinary shareholders lor the last half-year, making the distribution, the same' as for the previous year.