PUBLIC SECURITIES.

Daily Telegraph (Napier), Issue 7499, 19 October 1895, Page 3

PUBLIC SECURITIES.

Tha Publio Securities Bill, which the Treasurer stated waa designed to make olear the position of publio securities and the right of custodians to pledge the same, came on for its second reading in the Houae this afternoon.

Mr Ward said it would be a very serious mistake if the Houae rendered it impossible in the time of a crisis to use their securities.

Mr Bell said the Bill was an ingenious sham, which pretended to make the aecuritiea safe whilat it left to the Treasurer power to pledge them. Mr Montgomery contended that instead of removing the doubts whioh existed as to the position of securities, it made them worse. Mr Hutchison and Sir Robert Stout followed in tho same strain. The Treasurer, replying, said that members were not prepared to give the Goveruorin- Council and oußtodians oredit for common sense and integrity iv connection with the securities. The Bill waa read a seoond time. WORK IN COMMITTEE. Some hours were spent in Committee on the Public Works and Railways Act Amendment Bill. The olause was amended to provide that no permit for the sale of intoxioating liquor at any rail refreshment room shall be renewed after its expiry where Prohibition has been carried. After numerous divisions, two years six months was fixed as the limit for the duration of railway bar licenses. Clause 8, officers of the railway service not to be deemed Civil Servants, was struok out. The Fisheries Act Amendment Bill was then put through Committee unamend* d, and with the Bill last dealt with, read a third time, and the House rose at 1.30 a m. till 7.30 p.m. on Monday.