Bank Amalgamation.

Oamaru Mail, Volume XIX, Issue 6048, 13 September 1894, Page 3

Bank Amalgamation.

(BY TELEGRAPH.) (from our own correspondent. ) Wellington, September 12. I understand that the agreement between the Colonial Bank and Bank of New Zealand has been signed and the terms of it have been submitted tn Ministers for their approval. The matter has been considered in the Cabinet, but it is not yet known what decision has been arrived at. It is reported that under the agreement the capital of the united B*nk wfll be largely increased and a strong reserve fund formed. Wellington", September 13. The Treasurer informed the House this afternoon the the Government had received the proposals for amalgamation from the New Zealand and Colonial Banks. The Government would consider them and inform the House of its decision on Tuesday. He assured members that no sanction would be given to the proposals till the House had a fall opportunity for considering them.

(PER FEES* ASSOCIATION.) Wellington, September 13. The Colonial Treasurer promised to lay the proposals before the House on Tuesday next. These proposals were of a very important nature and would require careful consideration. He understood that a telegram had been sent to various papers, giving details of the terms of agreement. He wished to say that so far as the Government was concerned no information had been or would be given until the negotiations were all completed, and the unauthorised statements made ought to be received with great caation. In reply to Captain Russell,'Mr Ward said that the House would have ample time to consider the proposals, which would be printed and laid on the table.