Of the five banks doing business in New Zealand, four are represented in Nelson, and have wellappointed offices. The Bank of New Zealand and the National Bank of New Zealand, Limited, are in Trafalgar Street, and the Bank of New South Wales in Bridge Street. There is also the Post Office Savings Bank. Formerly there was, in addition to the Nelson Savings Bank, a private institution, founded in 1860, which at one time had one thousand depositors, whose average deposits amounted to twenty guineas. The oldest established bank in Nelson is that of the Union Bank, which opened a branch early in 1842. Five years later the New Zealand Government passed an Act to create a Colonial Bank of Issue, and that statute prohibited the issue of any other notes payable on demand. This course compelled the Union Bank to withdraw, but when the Act was repealed, in 1853, the Union Bank again opened a branch. In the interim Messrs Morrison and Sclanders opened a small bank of deposit, and issued notes, payable twelve months after date, amounting to several thousands. Mr. Beit, of Nelson, did likewise, and in Otago Mr. Macandrew followed a similar course.

It is interesting to note the progress made by the five banks in New Zealand. On the 31st of December, 1904, the total liabilities amounted to £20,089,130, and the total assets were valued at £21,296,425. The deposits, not bearing interest, amounted to £8,425,376; those bearing interest, £9,099,010; and the Government deposits amounted to £1,024,353. Thus the total value of deposits was £18,548,739. The value of the notes in circulation was £1.451,813; coin was represented by £3,790,483, and the bullion was of the value of £162,592.

The Bank Of New South Wales in Nelson is situated at the corner of Bridge and Trafalgar Streets. The bank was opened in the year 1862, and the present premises were erected in 1886. Mr. Henry Goulston was manager of the bank for about twenty years, and was succeeded by Mr. W. Haskayne-Jones, Mr. W. E. Farrer, and Mr. J. Preshaw respectively. The bank's staff consists of three members, and Mr. Charles Augustus Tabuteau is the present manager.

The Union Bank Of Australia , Ltd., Hardy Street, Nelson. Established 1854. The building is one of the most substantial structures in Nelson, and its interior is of a striking appearance. The bank does a good sound business throughout the district.

Mr. R. S. Booth , the Manager, was born at Leghorn, Italy, and came out from London in 1879, to fulfil an appointment in the Christchurch office of the Union Bank. The following year he was transferred to Nelson as ledger-keeper, and worked his way up to the position he now occupies.

The Bank Of New Zealand , Nelson, is situated in Trafalgar Street, and was opened on the 5th of January, 1862. The present handsome building, in concrete and brick, was erected in the year 1867. Its architecture is of the finest in the city, and the building was constructed under the supervision of the late Mr. James Scott. The interior fittings are on an elaborate scale, and the counters are of polished Sydney cedar. The staff consists of nine officers, and Mr. Edward John Allen is the present manager.

The Nelson Branch Of The National Bank Of New Zealand was established in 1874. The premises consist of a handsome two-storey building, erected in 1904, and are situated in Trafalgar Street. The Bank does a large and increasing business. Mr. Cecil King is the manager, and Mr. D. Watt accountant.

Mr. Cecil King , Manager of the National Bank of New Zealand in Nelson, was born in 1858, in Fremantle, West Australia. There he received part of his education, which was finished at Perth College. He then entered a merchant's office in Fremantle. In 1875, Mr. King came to New Zealand and joined the service of the National Bank at Wellington. After being agent at Te Aro he was appointed manager at New Plymouth, whence he was transferred to his present position in 1891.