BANK OF NEW ZEALAND.

Taranaki Herald, Volume LXI, Issue 144131, 28 June 1913, Page 4

BANK OF NEW ZEALAND.

MEETING OF 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 Alessrs. Alartin Kennedy and AA’illiam AA’atson, tho two representatives of the shareholders on the board. Air. Kennedy presided, and criticised the chairman’s action on the previous day in dosing the meeting without asking if any shareholders had further business to bring forward. _ He characterised the chairman’s action as most arbitary and unwarranted, and wholly illegal. The object clearly was to deprive tho shareholders of an opportunity of stating their opinion on the printed report of the proceedings -which was sent out by tho bank. Air. S. Kirkcaldie said that the thanks of every one of the ordinary shareholders in'the bank were due to the chairman for tho action he_ had taken on the previous day. Unless their’ directors were , fortified and strengthened by the shareholders, the Government noraineees on the board would do exactly as they liked with the shareholders’ capital and the shareholders’ interests. Ho was never more astonished than when he heard tho chairman of directors say that the board had furnished to tho Government proposals for increasing the capital. This must have been done without the knowledge of tho shareholders’ directors, or- in defiance of them. He moved: "That the directors of the bank be ■requested to furnish to the shareholders, or consideration ,at their meeting on July 4, a copy of the proposals submitted by the board to the Government relating to the proposed increase of capital.” The motion was seconded by Air. J. Plimmer, and carried without discussion. On the motion of Air. Skerrett, seconded by Dr. Knight, the meeting ad-’ journod till July 4.