THE COLONIAL BANK

Wanganui Chronicle, Volume XXXVIII, Issue 11951, 29 March 1894, Page 2

THE COLONIAL BANK

HALF-YEAELY MEETING. (Per Press Association.) Dunebin, March 28. The half-yearly meeting of the Colonial Bank was held to-day, the Hon. George McLean, M.L.C., Chairman of Directors, presiding. The Chnirnmu in moving the adoption of the report said that the experience of the Bank during the Australian crisis confirmed the soundness of the policy carried out by the directors for six years in restricting tho amount accepted on deposit in London, a policy which they were now reaping the benefit of. A comparatively small disturbance was caused by withdrawal. Businoss throughout New Zealand was fairly sound, but in most districts the harvest yield had been deficient, while kauri gum had sufferei! a heavy fall in value, and tho prices this year for wool were not equal to expectations. On the other hand the strides taken by the trozen meat trade gave an assurance of the constant progress of the colony. Peopled with a courageous and energetic race, New Zealand had immense power. Protection would keep her always in the foremost rank, and the Bank wns ever sure to share in the general prosperity. Tho report was adopted without discussion. Mr Larnach was elected a director of tho Bank.