THE BANK OF NEW ZEALAND.

New Zealand Herald, Volume XXVII, Issue 8305, 11 July 1890, Page 5

THE BANK OF NEW ZEALAND.

[BY TELEGRAPH. —SPECIAL REPORTER.] Wellington, Thursday. The Wellington papers refer to the cablegram about the Bank of New Zealand in a very hopeful tone. The Post pays:—"A great incubus is about to be lifted off the colony. Ever since the memorable clay when it first became known that the Bank of Now Zealand was in troubled waters, the fact has lain like a dead weight on the spirit of enterprise, and has tended greatly to intensify the depression. Now the end has been reached, the full truth about the Bank of Now Zealand is known, the worst proves better than most people probably expected, and a scheme has been evolved by which the Bank, freed from the dead weight, of its vast losses and unreasonable assets, will be placed on its legs once more, in a position to perform all its legitimate commercial functions. .More than this, the fear of a crisis from compulsory realisation of the ijloho assets, at any sacrilice, is done away with. The cable news to-day is a bright gleam of sunshine, penetrating the dark clouds of commercial depression, and indicating a power that will speedily disperse them altogether. A revival of confidence, with an unloosening of capital, so as to enable trade to be carried on unhampered by the heavy handicap it has so long suffered under, 'may now suddenly be looked for. The formation of the Assets Company will do more to restore prosperity than any Parliamentary action could possibly 'effect."