Colonial Bank.

Oamaru Mail, Volume XIX, Issue 5905, 29 March 1894, Page 1

Colonial Bank.

BY TELEGPAPH. DutfEDiN, March 28. The half-yearly meeting of the Colonial Bank was held to-day, the Hon;. George M'Lean, chairman of directors'presiding. The chairman, in moving the adoption of the report, said the' experience of the Bank during the • Australian.' crisis confirmed the soundness of the policy which had been carried out by the directors for some years in restricting the _ amount accepted on deposit in London, a policy which they were now reaping the,-benefit; of in the comparatively small disturbance caused by withdrawals.' Business throughout New Zealand was fairly sound, but in most districts the-harvest'yield had been deficient, while kauri gum had suffered s heavy fall in value, and' prices this year for wool were riot equal to expectations. On the other hand the strides taken by the frozen meat trade, gave asßUranoe of the constant progress of the colony. The people were a courageous and .energetic race, and New Zealand s immense power of production would keep her always in the foremost rank, and the Bank was ever sure of a share in the general prosperity. The report was adopted without discussion, and Mr Larnach was elected a director of the Bank.