OUTSIDE VIEWS.

Otago Witness, Issue 2106, 5 July 1894, Page 22

OUTSIDE VIEWS.

London, July 1.

Mr H. Glyn, chairman of the directors of the Bank of New Zealand, doubts the wisdom of calling up the reseive. July 2. The Bank of New Zealaad directors do not approve of the removal of the head office if it is intended to transfer it from London to Wellington. Financiers here approve of the Bank of New Zealand Act. They consider that it will greatly strengthen the institution, and virtually create a State bank. If the English shareholders in the Bank of New Zealand are assured that no call will be required the scheme may be regarded as successful. Bankers and brokers in the city approve of the removal of the head office to Wellington. They consider that the money can be easily obtained in London. In order, however, to properly understand the position the full texn of the bill is lequired, as the cablegrams receive! are ambiguous, and the exact position Gannot be understood. Old shares are quoted at L 2 10s; new issue, L 3 ss. Melbourne, Jaly 2. Sir J. B. Patterson, Premier, eulogises the action of the Nbw Zealand Government respecting the Bank of New Zealand, which he considers to be statesmanlike. He adds that if the Victorian banks had stood together last year they would have been assisted ; but they would not, and there were too many for the Government to deal with.