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BANK OF NEW ZEALAND WELLINGTON, Friday Referring to the New Zealand Government’s intention to introduce legislation for the compulsory acquisition of privately owned shares in the Bank of New Zealand, the chairman of the National Bank of New Zealand, Lord Balfour of Burleigh, in a statement relating to the accounts to be submitted to shareholders at the annual general meeting in London, says:
“ We do not think that this measure will be of benefit to the banking structure or contribute to the efficiency of banking service in New Zealand. We as bankers are concerned with the smooth working of the financial machine, and this is always apt to be disturbed by controversy. Wc therefore regret the Government’s expressed intention of introducing this measure, and we have conveyed this
view to the Minister of Finance. The Minister has since given public reassurances about the future conduct of the Bank and we welcome these in the spirit in which they are given. It seems that the Government is taking this step on political grounds, and the question has therefore become one of party politics, in which, in our view, banks should not be involved.” DISCHARGE FROM ARMY' CANBERRA, July 13 Soldiers with five years’ service, including two years overseas, may seek discharge from the army. Men with this period of service who desire to be discharged will not be embarked for service overseas. The Minister of the Army, Air Forde, said these instructions had been issued by the military authorities.
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Waikato Times, Volume 106, Issue 22660, 13 July 1945, Page 3
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250LATEST NEWS Waikato Times, Volume 106, Issue 22660, 13 July 1945, Page 3
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