BANK OF NEW ZEALAND

Waikato Times, Volume XXXIV, Issue 2745, 15 February 1890, Page 2

BANK OF NEW ZEALAND

.MAJOR GEORGE'S I , <#N — --s^ (B^ELBfifEA'PH.—O WN< '.CORRBaPONDEJIT., AocKL-Afji), liasfc Nrght.: T«s3anbrif New Zeajnifd. meeting, t(j*da} paSeSd off qujetly, and tfieVesolutuftlS con firming thef removal 'qf^the ,, liea'd%office tc London were adopted. Major George, out ol the directors, stated, " VVb havecontinH oualy and recently, most carefully reviewed 'the position'of .tßfi scficajled slobo assets, and I do nothe&itate |o, Ay that, I leprae these assets most tfopetullyi.antl had we beet permitted to go on quietly, we could have carried on the bank successfully, and worked out these assets to the interest of all con cerned, for it must not be forgotten thai though , some! of the acqounts gthii haad have. 'realised I'mostl?pi the land- we . still have. I hav« ; visited I some J of (these ;prop;ertieß whicl; have' been' looked' upon* as amongst jfcha.'Worst bank'a . dependencies. and I feel very hopeful of their future. I would falaojHke 1 you,ito bearrin,,mind2that /ifrona HiitJerest-returning ■ properties* there"was'ari increase of £18,000 last year over the pr» vious onej ¥ £n r d"fre' hav'e reason 7 tcf'Bblieve that there will be a further increase! this year. This being the case, siirelj we can take credit for a large! increase in Tthei -Value '.of Jthe, tproper- ■ tiefc which sjield ftWesS increased returns. I will ask you to give all the more wjeighl to my opinions because, as you know, I are in no way connected with the past management of the Bank and consequently am not ffiall&bft to'defend idr .eicuij^ f actions. 'I'piit my good morie£ ihto lfc oti the-strength of t the cpmmittee's report and it remains in it "stili, and what is more, I intend that it shall remain in it, for I am convinced the .Bank is sound, notwithstapding what ma\ have been said, or worse, insinuated to the 'contrary."