MR WATSON EXAMINED.

Auckland Star, Volume XXVII, Issue 166, 16 July 1896, Page 5

MR WATSON EXAMINED.

!E DECLINES TO DIVULGE IN ■■ft&IIATION EE INDIVIDUAL ACCOUNTS.

,«eexamination of Mr Watson, Preaidenb ""leßankof Now Zealand, was then pro«eded with. *"*f BBbad answered a few questions Mm B t De p os i t j on anc j officers of the 3*"**»w Zealand in 1888, Mr Seddon -"*» who ware the persons whose names m» in connection with accounba written

Jf', Hutchison submitted thab this Th n WM outside the order of reference. l&6 Chairman ruled thab the Premier's f»M „ 88 in ordercW atßon : Havin £ regard to the deMm- of Becrecy and terms of my apLI r* 1 must decline to give any in- , gnon as to the accounts, and I am |; BW advised to that effect. S'te» Chair «ian: Do you decline to iij|;6rthe questions? - I •II tii ,tson : l signed a declaration, and I jj '7 bank's officers and everyone conI h K,WUh the bank 8i Bned a declaration Mitin V wi" nob disclose; anything rej lDl s!°^dividual accounts. I have been I eoC 8 t0 unserve bhe interests of the I ttnd,> Bnd of fche shareholders, and I contha ' , Wo«ld bo against the interests of MnV "y and of the shareholders to Jab„ c.,nch information, and bhab ib is my 9m £ divulge ib. Sneddon ; The question is whether the

Bank shall be master of bhe House of Representatives. I see nobbing for it bus bo consider ear position. The Chairman; I was going to tay we should take the opinion of the House. Mr Hutchison : I take ib the Chairman's ruling must be upheld, and the question must be answered. The Chairman (to witness): You never took any oath 2 Mr Watson : No. I signed a declaration of secrecy. Mr Hutchison : A declaration would not be an excuse in any court for refnßing to answer a question. This Cemmittee has all the powers o? the Supreme Courb, and has all the powers of tho House of Commons. There is no excuse for a witness to refuse to answer a question pub by this Committee'if tho Chairmaa and Committee are of opinion ib should be answered.

Mr Montgomery : Mr Watson made a declaration fro the Bank, bub about ten minutes ago he took an oath before this Committee to tell the whole truth, and nothing bub the truth.

MR THEO. COOPER'S ADVICE,

MrTheo. Cooper (whoappeared on behalf of the Bank of New Zealand) said: I have advised tho president, directors, and officers of the Bank to refuse to give any information concerning the accounts of past or presenb customers of the Bank, of New Zealand, or concerning the accounts of any of the customers of the Colonial Bank in relation to bhab portion of the business of the Colonial Bank now being administered by the Bank of New Zealand. They are therefore acting under my advice, and ab the proper time and place I shall be prepared bo give reasons. - ■

The Premier said the Committee must deliberato on their position, and the room was accordingly cleared.

After a few minutes' deliberation tho Committee came to a decision, bub decided nob bo make it public. The Committee then adjourned till eleven to-morrow.

The sub-Committee afterwards meb, and arranged the order of business. Mr Hutchison's notices of motion were included in the recommendation wibh certain amendments which Mr Guinness gave notice to move for the balance-sheet and all returns since their formation, with a certified . copy by a duly qualified accountant up to June 30th, 1896, of Walter Guthrie and Co., Pine, Colonial Hardware and Implement Company, and the Colonial Implement and Engineering Company. The motion also asked for a large amount of other information in regard to these companies, and requested thab various persons connected wibh the companies be summoned as witnesses.