THE BANK OF NEW ZEALAND.

Star (Christchurch), Issue 6721, 16 February 1900, Page 3

THE BANK OF NEW ZEALAND.

HALF-YEARLY MEETING. [Peb Pkess Association.] WELLINGTON, Feb. 16./ At the half-yearly meeting of the Bank of New Zealand about a dozen people were present. Mr Blair presided. After referring to the resignation pf Mr Tegetinie'r, the general manager, and the appointment of Mr Embling as bis successor, Mr Blair said the buriness ;v of ' the bank during "the-half-year had been - prosperous, and it was singularly gratifying that while other parts of the world were feeling the financial distress, this colony was free from trouble. took this to mean that the position of the colony was sound, and they had never enjoyed a mor3 prosperous time. With the exception of the dredging works now in process there was nothing in the shape of speculative business in. New Zealand, and in the dredging the returns, on the Whole, will more than meet the interest on the capital invested, bo the colony is not likely to be a sufferer. One disturbing influence which might tend to affect institutions like banks was the Transvaal war, but so far as they could see it was going to stimulate trade in New Zealand. When the war was over trade with the Transvaal and South Africa generally would be largely developed, and more than recompense the colony for any money we were expending in connection with it, and, in addition, it would be a splendid advertisement for New Zealand. Though the successful half-year's busine&s 'had no great significance for the shareholders, he hoped the time wns not far distant when they would participate in the bank's prosperity. Questioned on statements which appeared in a letter in the local paper of Feb. 1, the President said he was not prepared 'to give an answer, as often such letters were written for political purposes, and certainly not with the intention of aiding the bank. All he would say was that the bank was doing a large and profitable business, and it was a pity that the institution in former (fays was not in the hands of those who could have conducted it properly. Mr Kebble, a shareholder, spoke of the Premier being in the position of a seller arid buyer, a seller as a member of the Assets Board, and a buyer as head of th| Government. 1 Mr Blair replied -that the Assets -Boatd was doing good work, one estate 1 alone realising tecently £10,000 over the estimate, and he said that no person in New Zealand was more anxious than the Premier for the success of the Assets Board in its connection with the bank.