BANK OF NEW ZEALAND.

New Zealand Herald, Volume XXV, Issue 9146, 30 August 1888, Page 5

BANK OF NEW ZEALAND.

In' our advertising columns will be found notification of a special general meeting of the shareholders of the Bank of New Zealand, to be held on the 3rd of October, to receive the report of the committee appointed at the last half-yearly meeting, and for other business specified. Considerable delay in the presentation of the report has been inevitable, in view of the magnitude and importance of the questions requiring consideration ; but it will, no doubt, be satisfactory to shareholders that the committee now see their way to fix a date at which they will be prepared to meet them. We have heard remark made that the circular recently issued by the committee gave little information. But the object was, not to give information but to obtain proxies from shareholders who did not intend to be personally present, so as to secure the representation of capital required to enable the business submitted to the meeting to be dealt with. Failure of the necessary representation would simply mean stultification of the whole proceedings. The information the committee have to give could not properly be given piecemeal. The time and place for it is at the meeting of shareholders, where the report can be discussed and explanations afforded, if necessary. The business of the Bank cannot be conducted by shareholders ; they must of necessity trust much to a representative body, and those shareholders who do not intend to be present at the meeting, cannot wisely do otherwise than confide their proxies to the committee, who, having studied the position, and having conferred with the Directors in London, have no doubt arrived at conclusions regarding the measures proper to be adopted, and which are most likely to be in the interests of the Bank and its shareholders.