BANK OF NEW ZEALAND
OPINIONS OF THE LONDON PRESS. [press association.] London, October 4. The Standard says the circular issued by the Bank of New Zealand is the most satisfactory paper, that has emanated from the Bank for a long time. It frankly discloses the truth, and corrects past errors, while providing a remedy for the unfortunate position into which its affairs had fallen. The proposals for a clean balance sheet and obtaining a sufficiency of new capital are, it considers, extremely reassuring. The Times considers that there is good reason to hope that the measures proposed will prove effective. The Financial News condemns the secrecy which has surrounded the operations of the Bank of New Zealand', and describes the Bank as founding a corner in New Zealand finance. It considers the credit of the colony is involved with the Bank. The Daily News is of opinion that despite Vogelism, New Zealand is quite solvent. Bank shares fell to £9, but have since recovered slightly.
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New Zealand Herald, Volume XXV, Issue 9179, 8 October 1888, Page 5
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165BANK OF NEW ZEALAND New Zealand Herald, Volume XXV, Issue 9179, 8 October 1888, Page 5
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