Bank Amalgamation.

Oamaru Mail, Volume XIX, Issue 6047, 12 September 1894, Page 3

Bank Amalgamation.

(by telegraph. ) (from our own correspondent.) Wellington, September 11. I learn, on the best authority, that the terms of amalgamation of the Bank of New Zealand and the Colonial Bank have been finally arranged, and the agreement living effect to the union of these two institutions will probably be signed in the course of Wednesday. The conditions of amalgamation will include an arrangement that °the Globo Assets Company's affairs shall be completely dissevered from those of the Bank of New Zealand. The full terms of the union are not yet known, but they will be commuicated to the Government, and Ministers "may be expected to make a statement on the subject at next sitting of the House. The deed of union will be signed by Mr John Murray on behalf of the Bank of New Zealand, and by Mr Geo. M'Lean president of the Colonial Bank. I believe it will be found that legislation is necessary to complete the amalgamation on these terms.

(per press association.) Wellington, September 12. The agreement between the Bank of New Zealand and the Colonial Bank as to amalgamation was signed yesterday by Mr Murray and the Hon. Geo. M'Lean. It is now under consideration by the Government. If the terms are agreed to they will be submitted to a general meeting of both banks on the 26tli.