LEGISLATIVE COUNCIL.

Press, Volume LX, Issue 11747, 23 November 1903, Page 6

LEGISLATIVE COUNCIL.

Satvbdat, Nov___-_3 2L MORNING SITTINQ. The Council met at 11 a.m. BANK OF NEW ZEALAND. The ATTORNEY-GENERAL, in moving the -second reading of the Bank of New Zealand Bill, said regarding preference share., that if th* amount of securities held should not realise £500,000, the Treasurer would have to make good the deficiency. Mr £TEVENB considered the chief blot in the Bill was the continued existence of the Assets Board. Mr MACDONALD said the defect in the Bill waa the absence of a provision for a reserve fund until it amounted to half the wipital. Pc eomdenxned the business ineptitude of the Assets Board. He regretted that the colony had not got more out of the Ba-.k, which had been saved at the expense of the colony. Tho debate was interrupted by the luncheon adjournment. AFTERNOON SITTING. The Council resumed at 2 p.m. Tlie Bank of New .Zealand Bill waa read a second time, pasted through comnrfttee unamended, read a third time, and parsed. FINAL STAGES. The following E__a were put through their final stages:—Hutt Railway and Road Improvement, National Scholarships, and Mutual Fire Insurance. The Council adjourned at 6.15 p.m. EVENING~SITTING. The Council resumed at 11.45 p.m. The Maori (Land Laws Amendment Bill was read a second time, and referred to the Native Affairs Committee. THIRD READINGS. The Stock Act Amendment and KawhU and Awakino Counties Bilk were read a third time, end passed. The Council adjourned at 12.5 a.m. until 11 a.m. Monday.