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New Zealand Herald, Volume XXVII, Issue 8300, 5 July 1890, Page 4

! j The cable message which we publish in i another column respecting the Bank ' of New Zealand contains welcome news ■ : for every person interested in the | colony. It is evident that no time has > been lost, oil the arrival of Mr. Hean i

in London, in entering fully into the position of the Bank, the persons taking part being the London directors and other capitalists interested. The utmost confidence, we are informed, is felt in London as to the soundness of the Hank-, and an arrangement is on the point of completion by which a company, including; some large capitalists in the city, will take over the bulk of the globo assets. Ample resources will now be placed at the disposal of the Bank for all purposes. The directorate in London will be strengthened by further good names, giving assurance not only of absolute stability, but of efficient management. The arrangement, when completed, must be a powerful factor in the re-estab-lishment of prosperity in New Zealand. Besides dissipating completely the cloud which has hung over the most important financial institution, an enormous benefit will be caused o the colony by the now management of the assets. That will probably in<;;in the turning into the colony of a plentiful stream of capital and settlement, and estates that are now unprofitable for want of capital will be made to contribute to the trade and to the prosperity of New Zealand. Certain London newspapers have lately, to ail appearance, been made the mouthpieces of the enemies of the Bank, but their statements have had no influence, and indeed could have had none, against the full report and authoritative statements made by Mr. llean.