THE BANK OF NEW ZEALAND.

Otago Witness, Issue 1898, 19 June 1890, Page 20

THE BANK OF NEW ZEALAND.

(Peb Press Association.)

London, June 17,

The directors of the Bank of New Zealand are unaware of the authority of the Standard's statement that the New Zealand Government will assist the bank to weather the difficulties.

Bank of New Zealand shares have risen 10s.

Auckland, June 18. Regarding the statement iv the London Standard re the Bank of New Zealand, the bank authorities say the Standard's assertion is purely imaginative. The bank never asked for

assistance from the Government. The statements appearing in the London Standard are really idle speculations.

(Feom Oub Own Corbespondent.)

Wellington, June 18.

With reference to the statement cabled by the Press Association on the alleged authority of the London Standard, that the New Zealand Government intended to assist the Bank of New Zealand to weather its difficulties, the Premier authorises an explicit contradiction of this statement. I learn, however, from other sources that the statement in question is understood to have been founded upon the construction placed by some Opposition journals on Mr Fergus' remarks as to the advisableness of the Government purchasing for settlement purposes some of the lands now lying virtually idle in the hands of financial institutions. It will be remembered that this was asserted to indicate a design to take over some of the bank's cjlobo assets, and it is believed to be on this theory that the London Standard has made the assertion now contradicted.