BANK OF NEW ZEALAND CALL. TO THE EDITOR.

Otago Daily Times, Issue 10241, 25 December 1894, Page 3

BANK OF NEW ZEALAND CALL. TO THE EDITOR.

Sin, —Irfiad with much plsasure the letter df " Shareholder " in your issue of th« 22nd, having also tha misfortune to be a shareholder in tors bank, which has chosen the same time us its impecunious cousins to send round the hat. It seems the call is illegal, and may, if allowed, be followed by auothe;- of £5 15s 4d, and still have a resorvcpi'o lono puhlico, but not for the good of the shareholders. With this kind of thing there would be no good in lawn.

It was in February 1891, a few weeks after I became a shareholder, a call was made of £3 per share and this money immediately written off, all for the giobo estates, and we were then assured all would be flourishing, and no more calls could be made unless in ths case of liquidation. Rather than allow this, the Government guaranteed £2,000,000. Wo have now another indignity added—namely, the impossibility of selling our property.

The officials we employ are bound to issue every six months balsnco sheets showing exactly how matters gtaed. Had these been true I would not be a happy shareholder now. Thr-se midnight aalvatioou pushed on before daylight seem rather too much, and remind me of the parable of the unjust sS&ward. Be careful lest the shareholders' money will not go to keep oiSciuls in office. I advise the owners to demand an exact statement of how matters Btand, getting the best legal authority, to pay which a tax can be collected among themselves. —1 am, &c,

December 22,

Nemesis,

F.S.^Since writing ths abbva I see this is sxßctly what English shareholders pr6pbse, inly it seems the world mttet be congratulated it this advanced period at the perfection we have brought law to when it requires such a mm to grease tho bearings of this complicated neighing machine. However, the directors may have to pny.