BANK OF NEW ZEALAND.

Stratford Evening Post, Volume XXXVI, Issue 45, 28 June 1913, Page 5

BANK OF NEW ZEALAND.

* IRATE SHAREHOLDERS. . [Per Press Association.] Wellington, June 27. About twenty shareholders in the Bank of New Zealand attended the adjourned meeting hold at the head office'this afternoon. The only directors present were Messrs Martin Kennedy and William Watson, the two representatives of the shareholders on the Board. Mr Kennedy presided, and criticised the chairman’s action on the previous day in closing the meeting without asking if any shareholders had further business to bring forward. He characterised 1 the chairman’s action as most arbitrary and junwarranted, and wholly illegal. The object clearly was to deprive the shareholders of an opportunity of stating their opinion on the printed report of the proceedings which was sent out, bv ban k. Mr S. Kirkcaldie said that the thanks of, everyone of the ordinary shareholders in the bank were due to the chairman for the action he had taken on the previous day. Unless their directors were fortified and strengthened by the shareholders, the Government nominees oh' - the Board would do exactly as they liked with the shareholders’ Capital and the shareholders’ interests. He was never more astonished than when he heard the chairman of directors say that the Board had furnished to the Government proposals for increasing the capital. This must have been done without the knowledge of the shareholders’ directors, or in defiance of them. He moved: “That the directors of tho bank he requested to furnish to the for consideration at their meeting on July 4th, a copy of the proposals submitted by the Board to the Governhient relati ing to the proposed increase of capi- | tal.’ r D' ; ; The,i motion was seconded by Mr J. Plimmer and carried without discussion. • i 1 '■ eei'Z'j ; :w