COLONIAL BANK.

New Zealand Times, Volume LI, Issue 8966, 17 April 1890, Page 1 (Supplement)

COLONIAL BANK.

Dunedin, March 26. The annual meeting of the Colonial Bank of New Zealand was held to-day, Mr G. McLean, chairman, in moving the adoption of the report declaring the usual 7 per cent dividend, said there was a gradual increase in the deposits from last year of £300,000, taken entirely in New Zealand, The maximum of deposits in Lon*. don had been reached sometime past, and the Directors would only take money? there to replace any taken away. A certain amount of assets were as liquid as anyone could wish,' Although the advances had not", quite kept paoe with the deposits, there hadi been a considerable accession of business, new and valuable, and they were weeding oat some of the old. There had been afairish amount of losses, but the bank was pursuing a conservative-policy. The bank: could get plenty of business, bnt they liked to pick it so as to make a profit. The out* look of the Colony he did not think was very had, and at the end of the year the - exports would probably reach that of" previous years. The report was adopted, ’ and the retiring Directors and auditors were ' re appointed, the meeting not lasting half an hour.