The Assets Company.

Cromwell Argus, Volume XXVII, Issue 1373, 20 August 1895, Page 3

The Assets Company.

( Daily Times' Wellington Correspondent.) The composition,©! the committee of the House to consider the position of the Estates Company and the Bank of New Zealand seems a fair combination of leaders, though some of the Ministerial following are said to be dissatisfied both as to the smallness of the committee and the number of Ministers nominated. It will be noticed that by the terms of the resolution the committee is to report by the 23rd inst,, so that the House will apparently, if the Premier has his way, be in possession of the report before the report of the directors of the Bank will have been published or tbe general meeting of shareholders held. That meeting must be held this month, and there is an impression abroad that it will be put off until tbe last moment lest it prejudice the committee’s proceedings. As to what is intended or desired by the Government, statements that come to me may vary, but they all agree that a further substantial guarantee will be asked for. One verison is that there can be no amalgamation until the liabilities of and to the bank as to the Assets Company are absolutely cleared off. This would mean three and a-half millions, as an examination of the accounts will show. >• notber and more likely statement is that a guaran tee of £1,500,000 will be asked for to enable the Bank of New Zealand to purchase the business of the Colonial Bank, which, could it be brought about, would be the simplest solution of the amalgamation difficulty. But whatever the scheme, it will be most narrowly scrutinised by the Legislature.