BANK OF NEW ZEALAND.

Gisborne Times, Volume IX, Issue 820, 7 February 1903, Page 1

BANK OF NEW ZEALAND.

By telegraph—Press Association— Wellington last night.

The half-yearly meeting of the Bank of New Zealand was held at noon today, Mr Mal'et, the Chairman, presiding.- The chief duty was the electiob of a director, and Mr William Watson, the retiring director, was the only gentleman nominated, was duly elected. Tlic Chairman pointed out that the meeting was merely held under the terms of the deed of settlement, and no accounts would be presented, hut he said he had no reason to doubt but that at March- thirty-one the dir-cc-.ors would be able to present as satisfactory a balance-sheet as last year. Me congratulated the farmers on the improved prices obtained for their produce, and also the shareholders of the bank on the fact that the shares of the bank were again sought after at par. or slightly above that figure. The fact was good evidence amongst others of t-lie credit which the bank enjoys. With reference to the proposed arrangement of the bank 'in connection with the maturing guarantee and other mailers in its relations with the Government, the Chairman said that the matters were not under the consideration of the directors. He had no doubt but that satisfactory arrangements would he concluded. Regret was expressed at resignation of Mr J. Rmbling, general manager, and the Chairman said that so far the vacancy had not been filled, but in the meanwhile Mr A. Michie, manager of the Dunedin branch, who enjoys the entire confidence or the Board will .administer affairs at the head o< Votcs of thanks were passed to the directors. .. , In replying, the Chairman said he thought the directors had started on the right track, and if they had good times and fair luck he anticipated further prosperity. The meeting only lasted a few minutes.