BANK OF NORTH QUEENSLAND.

Waikato Times, Volume XLIII, Issue 3485, 30 October 1894, Page 2

BANK OF NORTH QUEENSLAND.

The most noteworthy feature in the statement of the Hon, A. S. Cowley chairman of the Bank of North Queensland, at the half-yearly meeting at Bris-j bane ou July 27, was the announcement that after most careful consideration' the directors-had determined to give notice and pay at ouce all original deposits of £SO and under in full, and the first instalment, being 1 that due in May, IS9G, that is one forth the whole amount, of all remaining deposits under the scheme, The amount of deposits under the scheme of arrangements was £207,796. It is expected that a considerable amount will be withdrawn, especially in London, and, with the desire to reduce to some extent the proportion of the British deposits, whiph have proved so disastrous to this and other banks in tho past,, the bank had intimated tiki 1 these will riot be renewed for a less term.than five years, so as to place any renewals which might be" obtained outside the 'term of the scheme of arrangement; This is a strong policy, and one which might ;be imitated with advantage where At is possible to do so. If English money is to.be obtained it should be for longer periods tho?e for which it has been borrowed in 1 the past. «