MR. MURRAY INT REPLY TO MR. McLEAN.
Wellington, Thursday. Mr. Murray has handed the following memo, to the Press Association " Mr. McLean, at the Colonial Bank meeting yesterday, quoted from the last balance-sheets of certain banks figures purporting to show the relative proportion of paid-up capital and reserves to liabilities, making out tho Colonial Bank to be in that respect the strongest, and the Bank of New Zealand the weakest, bank in these colonies. Mr. McLean omitted to tako into consideration the fact that since the Bank of New Zealand balance-sheet was made up. two millions, which is in strictest sense capital, as liable for the debts of the Bank, has been added, making the proportion of paid up capital and reserves in the Bank of New Zealand to liabilities, 29 64 per cent., instead of 9*43, as he states."
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New Zealand Herald, Volume XXXI, Issue 9628, 28 September 1894, Page 5
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140MR. MURRAY INT REPLY TO MR. McLEAN. New Zealand Herald, Volume XXXI, Issue 9628, 28 September 1894, Page 5
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