BANK OF NEW ZEALAND.

New Zealand Herald, Volume XXV, Issue 9150, 4 September 1888, Page 6

BANK OF NEW ZEALAND.

TO THE EDITOR.

Sir, —Mr. Buckley, as President of the Bank of New Zealand, has given notice of a special general meeting of the shareholders of the Bank for October 3rd, among other matters to receive and consider the report of the committee Appointed by shareholders at the half-yearly meeting on 26th April last. This report should be circulated among the shareholders some few days before the meeting ; it has been long looked for with interest by the shareholders, many of whom hope that by its means the light of day will be let into the late management of the Bank. No doubt this report will be of a most important character, and deserve tho very careful consideration of the shareholders, but to secure that careful consideration it seems essential they should know what it is before they are called upon to discuss it. If thoy know nothing of its nature till the meeting takes place, and they are immediately called upon after having heard it read to consider it, I am afraid the consideration can hardly be of that exhaustive nature which the report will no doubt deserve. In all matters of public concern, from parliaments to road boards, notice has to be given in order that people may not be taken by surprise, but be in a position to bring matured thought to the subject. It is to be hoped that a similar course will be taken in reference to this report.—l am, etc., Shareholder. September 3, 1888.

[In oar remarks upon the advertisement calling the meeting, in our issue of the 30th ult., we pointed out that shareholders cannot manage a bank ; they must of necessity confide in some representative body chosen from their number. The committee must be assumed to follow the line of action most likely in their judgment to be for the advantage of themselves and their fellowshareholders. If shareholders desire time to consider the report, they will no doubt adjourn the meeting for the purpose. Our correspndent id hardly correct in comparing a bank to a parliament or road board. The latter are public bodies ; the former is simply a commercial company entitled to manage its own affairs in its own way. Ed.]