BANK OF NEW ZEALAND.

New Zealand Mail, Issue 914, 6 September 1889, Page 20

BANK OF NEW ZEALAND.

.(PER PRESS ASSOCIATION.) Auckland, August SO. Tho New Zealand Herald publishes the following • —“Some important changes in the Directorate of the Bank of New Zealand both “tatbfa Colo.y and in London ? ro announced, or .about to take place, owing to the retirements in both places. In LondoD, where there is a very powerful and influential Board, Sir Penrose Julyan ha** been pompelled 1o retire on account of au vaneed a , and the vacancy has been fille.. by election of Sir Hercules Robinson, K.C. late Governor of Cape Colony and formerly” Governorof New Zealand. Sir.Hercuesßobmsonatnassed alarge fortune at the Capedurmg his residence there, and his accession to the London Board of the bank is regarded as a very valuable one on account of his influential connections and his well-known business capacity. His acceptance of the vacant seat is very strong evidence of his faith and confidence, not onlv in the future of the bank, but In that of the Colony as well. In reference to the Colonial Board, it is understood, that Mr John McLean, who reside* in Otapo, ana has not been able to attend any of the Board meetings since April laet, baa felt it incumbent in the interests of the shr.reholcers, to retire. Mr G. Buckley has al?o desired for s me time past to retire at a fitting opportuxsifcy, and has now done so. M r Buckley has Ren in ill health fora long time, and has rema : n<?d upon the Board at great persenal inenr/vrtvence much beyond the period that lie originally intended to remain. Hisknowledae of business affairs in the Colony has been of great value to the bank, especially in the prolonged investigation which the committee were appointed toundertake, their report of which was couched in such terse positive, and vigorous terms. We are glad to be able to state on good authority that Mr John Murray, General Manager of the Bank, who proceeded to London some time ago to confer with the Board there, and with new and valuable connections formed in Lohdonj is now in America

on'his return journey in greatly improved health, and will at the request of a very large and influential body of shareholders both in .the colonies and in England become a candidate for the seat on the Board just vacated by Mr Buckley. Mr Murray has the confidence of the shareholders and of the executive officers of the hank, and his accession to the Board will strengthen it in every way. Mr Murray is the author and originator of the entire policy for the rehabilitating of the bank, and in spite of all opposition and many difficulties he had to face, has succeeded in keeping the valuable business of the institution together, while the new policy has given the bank a start upon what we believe to be a very prosperous career. As the half-yearly meeting will take place within a fßw weeks, we believe it is not the intention of the Board to fill the two vacancies by nomination, but will leave them open, so that practically the appointments will be made by the shareholders.” September 1. Mr G. Buckley writes that the statement in the New Zealand Herald, as to the change in the Directorate of the Bank of Nsw Zealand, is, as far as regards himself and Mr McLean, different from the actual facts.