THE BANK OF NEW ZEALAND AND THE ESTATES COMPANY.

Auckland Star, Volume XXVI, Issue 196, 17 August 1895, Page 5

THE BANK OF NEW ZEALAND AND THE ESTATES COMPANY.

(BY TELESRAFH. —PARLIAMENTARY

REPORTER.)

Wellington, this day. As the reeult of reading between the lines of the Premier's statements in the House on Friday evening, opinion ie gaining ground thab proposals for securing the severance of the Bank of New Zealand and the Estates Company will take the form of a scheme for applying a portion of the million sterling of guarantee, now held in liquid securities by the Bank, towards extinguishing the Bank's liability to the Company, by writing off the amount of the Company's shares credited as an asset of the Bank. This would relieve the Bank of all connection with the Company, though, of course, it would not relieve those bank shareholders who constitute the Estates Company. To make this use of the million will, of ciurse, require fresh legislation, ! The firsb meeting of the joint committee to inquire into the affairs of the Bank of New Zealand and the' Estates Company waa held thia morning. All the members were present, and the Premier took the chair pro tern. It wa<» resolved " that the Hon. Bowon should be chairman of the joint committee, and Mr Buchanan of the House section. The Committee adjourned till 2.30 to-day, when it meets again to take the evidence of Mr Watson, proeidentof the Bank. Nothing was said regarding the appointment of additional members of the Committee, and some doubb prevails as to whether the Premier's promise to increase the number holds good after Mr Smith's rejection of his offer.