THE COLONIAL BANK LIQUIDATORS.

Nelson Evening Mail, Volume XXXV, Issue 33, 11 February 1901, Page 4

THE COLONIAL BANK LIQUIDATORS.

: To the Editor of " The Evening Mail. " Sir, — Somo considerable time ago it was Btated in the preßß of the colony that the Colonial Bank liquidation wonld be com- - pleted by ihe end ot the year, and that there would be a dividend payable to the shareholders. Shareholders fondly hoped l that .the press made these statements from Information supplied by the liquida--1 tor 8. The year, however, has passed a away, also the first month of the new . year, and nothing further has been 3 heard. The shareholders have a cause of complaint, not ouly because of the unJ conscionable leDgth of time during which 3 the liquidation has been strung out, but 3 also because the liquidators, who are presumed to be working in their interests j and who are .certainly paid with their money, have never deemed it necessary to give any account of their stewardship, for to take their constituents, in any sense, into their confidence. Shareholders would have liked .to hear from time to r time how things were and what " the ultimate prospaets were, but perhaps I 1 the liquidators think they may as well 1 keep the thing going until they have mopped jup B the | whole t of the assets in ' salaries. 1 believe .that had a certain [ fixed sum been paid lor the liquidation instead of a yearly salary the business I would have been finished long ago. My ' object in writing, however, is to ask you, sir, whether you are in a position to ' supply any information, and further to ' suggest to the unfortunate shareholders whether the time has not arrived for us to take some united action in sheoi selfdefence. Your 3 etc v ' INTERESTED. The Dunedin " Star " states that the liquidators of the Colonial Bank hoped to have paid a final diridend in December last, but owing to the closing of the liquidation of the J. G. Ward Association having been unavoidably delayed, and to other unanticipated causes, they were unable to do so. It is now understood that both liquidations will be closed next month, and that the Colonial Bank shareholders will receive a final dividend of about one shilling per share,