THE COLONIAL BANK.

Wanganui Chronicle, Volume XXXIII, Issue 11388, 2 October 1891, Page 3

THE COLONIAL BANK.

• ♦ • THE CHAIRMAN'S ADDRESS. (Per United Pkebs Association.) Dunedin, September 30. At the Annual .meeting of the Colonial Bank the Hon. Mr McLean (chairman) said in these days the declaration of a 7 per cent dividend ought to be considered very satisfactory. He dwelt at length on the Bank's business. After detailing the history of the Bank's transactions with the Govern nent, durinst which the then Colofcfcial Treasurer had agreed to give notice '- of the termination of the agreement with the Government Bankers so that the account might be divided, and showing that when less powerful than they now are the Bank had helped the Government in timeß of serious" difficulty, he went on to say— We have placed the matter bofore the presont Government, and it was aleo brought up independently in Parliament as a proposal to divide the account among all the banks, to which this Bank '-- had not the least objection. He was not sure whether thiß" might not be more in the interests of the colony. They could notcomplain of the Treasurer.. claiming time-to look,.into the matter before de- - cjaing «!&e course to pursue. He could, confidently say there were not ten mem- - bers in this House who did not wish to see the account' divided, and he felt sure a sense of justice on the part both of the Government and members for the extraordinary services rendered to the colony j by the Bank, would before long brine; a, portion of the colony's banking account their way. He pointed out that this" Bank had no politics whatever. Its doors were open for business to every shade of politics and opinion. A renewal of the jnahager's instructions to his officers was not to use the Bank's influence m any political or public matter, while they considered that they, as a corporation, should take no part in politics. He strongly urged the individual shareholders, interspersed as they were all over the colony, to use influence towards bringing to the Bank a portion cf the Government business, -to which they, were really entitled.