THE BANK OF NEW ZEALAND.

Press, Volume LII, Issue 9159, 17 July 1895, Page 5

THE BANK OF NEW ZEALAND.

The affairs of tho Bank of New its offspring—the Assets Company—and the dormant but surviving desire for amalgamation have, it is believed among those in the best position to know, been an almost continuous subject of anxiety to Ministers ever since the two million guarantee. It i is an open secret that there can be no satisfactory amalgamation while the Schroder debentures, representing a million and a half, with -the guarantee of the Bank behind them, bar the way. How to get rid of them' and dieaever the Assets Company from the Bank of New Zealand seem) a matter of as much concern to-day as when the famous Murray agreement of last • session waa the question of the hour. The President of the Bank evolved, it is said, the idea of the Lotteries Bill to furnish the price of the globo elephant. The Bill was squelched ere. it evoluted from its primary protoplasm, and now tbe Government seem to be courting another banking Bill. Two of tho Ministerial party had questions upon the paper to-day that were clearly pilot balloons to show the direction of the political wind. The first came from Mr G. W. Russell, of Riccarton, who asked the Minister for Lands whether the colony has a large contingent interest in the Bank of New Zealand, and, it that institution is handicapped by its connection with the Estates Company, the Government will during this session, bring down comprehensive proposals for relieving that Company of such of its estates as are suitable for immediate settlement, giving 3 per cent, debentures in exchange; ( to which the Minister replied that the Estates Company had not approached the Government on the subject, and, until the Company did so the Government "could not take any action; but it was a question that would have to be considered. This Bhould pave • the way, and prepare the publio mind for the, official negotiations that may be expeoted to follow, and to that extent is a useful forward movement in the game. The second question found the Premier upon very delicate ; ground, upon which he wisely trod very ! gingerly. Ie was his faithful Henchman, Mr Collins, of Christchurch, who asked him | whether the Government will, in view of the emphatic opinion expressed in this ! House on the Bank of New Zealand Estates Bill, be to take over the assets of the Bank of New Zealand, and if necessarf transform that institution into a State Bank " The question is asked, Bir,"said Mr Collins, wisely abstaining from saying anything in support; and then it was that the Premier ventured upon delicate ground. He took a different- view of the opinion of the House, as expressed on tbe Lottery Bill. He thought there had hardly been such an expression of desire as indicated in the question. Then the Premier paused as though waiting for a sign, but it came not and he slowly continued, saying that he should require a much more emphatic expression of opinion in the direction indicated before he could move in the matter. Then he sat down amid a silence that eonld be felt. There was yet another question ere we had done with the Bank of New Zealand for the day, and this came from Dr. Newman, who asked tbe Colonial Treasurer why the Government opposed the return asked by him, "That all correspondence and every agreement between the Treasurer aud the Bank of New Zealand and the Colonial Bank of New Zealand be laid before this House," to which Mr Ward made answer that there was no agreement to produce, and as for the correspondence, all of it which was not of a confidential nature would bo laid 'before Parliament at an early date. There were more qunstioqs and notices iv the air, and banking affairs will be presently muoh in evidenoe in the

lobbies and where merchants most do . congregate.