NATIONAL BANK MEETING IN LONDON.

Taranaki Herald, Volume XL, Issue 9122, 1 July 1891, Page 2

NATIONAL BANK MEETING IN LONDON.

CALL OF 30s A> SHARE. | PER PUESS ASSOOIATION.J

London, June 30. — At a meeting of the shareholders of the National Bank of New Zealand, tho proceedings were of; an animated character. The Chairman, acting on the suggestion .of some large shareholders, recommended that a strong committee should be appointed to investigate the position of the bank. This suggestion was adopted by the meeting, together with all tho Board's proposals as to writing off the capital, calling up 30s per share, and passiug the dividend. In his speech, th • chairman admitted errors of judgment had been made in the conduct of business, and attributed the losses to depression, a bad harvest, and labor troubles. The Bank was not in immediate want of money, but it was necessary to provide for debts which were' clearly bad. The amount of these had not yet been fully ascertained. A suggestion that the Bank should amalgamate with the Bank of New Zealand was impracticable, and suspension altogether of future dividends was regarded as unwise. Tlie call would be payable in instalments.

Dunedin, June 30.— The National Bank aro advised that the London shareholders of the National Bank havo confirmed the directors' proposals for calling up 30s per share.

lmi)ortant to the public. F. J. Jones begs to intimate that, owing to increased business, he has removed into larger premises in Devon-street, next Criterion Hotel, shop lately occupied by Mr Gilmour Kuw opening a largo stock of winter boots, which will be sold cheap for cash only. — Advt. Demand and lako nothing but the genuine WoltVu Schnapps,