MURRAY, JOHN (1835-1915) was born near Dumbarton, Scotland. His paternal grandfather was a small farmer at Bonar Bridge, Sutherlandshire. His father, Donald Murray, had dyeworks in Glasgow until the financial panic of 1848, after which he managed the Rutherglen branch of the City of Glasgow Bank. John Murray assisted in this branch, and in 1855 became a clerk in the head office. In 1863 he married Frances Stewart, of Dunoon, Argyllshire, and in the same year sailed for New Zealand in the Aloe. He joined the Bank of New Zealand. A year later he resigned to accept the position of manager of the Bank of Otago at Invercargill. This he relinquished in Apr 1866 to rejoin the Bank of New Zealand as inspector. He played an important part in its development and became general manager on 24 Oct 1888. A year later he became a director, but retired when the directorate was removed to London, and his association with the bank ceased.

When the banking crisis occurred in 1894 the directors consulted Murray, and with their authority he approached the Government with a disclosure of the critical position of the Bank. Unless assistance was forthcoming, he said, it would have to close its doors. The responsibility of devising a scheme of assistance devolved upon him. Shareholders and directors accepted his advice and Seddon adopted the scheme as the basis of the banking measures of Jun 1894. M. Kennedy (q.v.) says that although Murray was out of the bank at the time the directors and general manager left the whole task to him. When the bank was re-established Murray retired in shattered health and spent the rest of his life in New South Wales. He paid several visits to Great Britain and lived eventually at Bathurst, New South Wales, where he died on 30 Jun 1915. Murray had considerable literary gifts and contributed occasionally to the press. He was a sincere philanthropist and associated himself with social movements in Auckland.

His eldest son, DONALD MURRAY (1865-) invented a multiplex telegraph-printing machine.

Information from William Watson (q.v.), Sir Harold Beauchamp (q.v.) and Donald Murray; N.Z. Times, 15 Sep 1894; Otago Daily Times, 24 Jul 1890.

Reference: Volume 2, page 58

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