NATIONAL BANK OF N.Z.

Waikato Times, Volume 118, Issue 19665, 27 August 1935, Page 3

NATIONAL BANK OF N.Z.

A SUCCESSFUL YEAR. DIVIDEND OF 4 PER CENT. At the annual meeting of the National Bank of New Zealand, held m London last month, interesting features disclosed were as follows:The total dividend is 4 per cent., which with exchanges added will give the shareholder in New Zealand a return of £4 18s lOd per cent, for the year. Liquid assets are equivalent to 55 per cent., or 10s lid in the £ of total liabilities to the public, and for every £1 of its own funds the bank is holding £4 3s 5d of the public’s money. This is ciii exceptionally •strong position. , The proportion of shareholders funds to total assets is 19 per cent. The chairman, Sir A. E. Harris, referring to the special legislation passed in the Dominion, said the most important measure is that dealing with mortgages, by which the Government are attempting to relieve the financial troubles of the farmer, with the result that the Mortgage Corporation of New Zealand Act and the Rural Mortgagors Final Adjustment Act have passed into law. These measures aroused considerable controversy, but it is impossible as yet to gauge their effect or ellicacy. Nevertheless any step to place the farmers’ finance on a sounder fooling should be welcomed.