The first twenty-five years of the bank's history were years of prosperity. A strained situation was revealed in 1887, and for the next seven years the bank underwent a series of reverses, ending in the loss of the whole of the capital and reserves and one-third of the reserve liability. In 1894 the Government came to the rescue of the bank, and since then its progress has been well maintained, and it now occupies an assured position. The head office is now in Wellington; there is, of course, a London office, and, in addition to branches everywhere in New Zealand, there are offices in Australia, Fiji and Samoa. Three years later, 1864, two other banks made their advent. One of them, the Bank of Auckland, was another local undertaking, which did not meet with the success that the Bank of New Zealand was to experience. It was opened for business in the premises formerly occupied by the Union Bank in Shortland Street, but collapsed at the end of March, 1867. The other was an Australian company, the Bank of Australasia, which opened its head branch in New Zealand here, occupying premises in Shortland Street adjoining the Post Office. Later it removed to Queen Street, where it still carries on business. Another indication of the growing business prosperity of Auckland was shown in the establishment of the New Zealand Fire and Marine Insurance Company, which came into existence on May 26th, 1859, as the result of the enterprise of some of Auckland's leading business men. The original capital was £100,000, which was guaranteed by the first shareholders, in sums of from £2000 to £5000. To detail the history of this concern, which has grown to world-wide dimensions, would necessitate more space than could be afforded; but it is worth relating that its first office was located at the corner of Shortland and Queen Streets in premises known as Fraser's Buildings. From 1871 till 1915 the business of the company was carried on in a two-storeyed building, over which was erected a clock tower, which became quite a feature of Queen Street. In the latter year this building was demolished, and upon its site was erected the present handsome edifice of seven storeys. Mr. W. H. Gummer, A.R.I.B.A., was the architect, and Messrs. Grevatt and Sons the contractors. The building cost £110,000.