BANK OF NEW ZEALAND.
ADVANCE OF SHARES. [PRESS ASSOCIATION.] London, October 9. The Bank of New Zealand shares have advanced to £11. Sydney, October 10. The Daily Telegraph this morning publishes an article on the Bank of New Zealand. In referring to the way the money was squandered at headquarters, it says :—"With such influences at work it is almost a matter of surprise, and certainly one of congratulation, that the Bank still exists. It had been the fashion to ascribe the position of the Bank to the depression existing throughout the colony, but we are inclined to think if the Bank suffered from depression in the colony, the latter suffered still more severely through the Bank's mismanagement." The paper considers the increasing of the capital a wise step, and that if the Bank is managed with prudence, it will come through with flying colours. The Committee of Investigation, it says, is entitled to great praise for the thorough manner in which their task has been carried out.
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New Zealand Herald, Volume XXV, Issue 9182, 11 October 1888, Page 5
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168BANK OF NEW ZEALAND. New Zealand Herald, Volume XXV, Issue 9182, 11 October 1888, Page 5
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