THE COLONIAL BANK ENQUIRY.

Evening Post, Volume LXVIII, Issue 135, 5 December 1904, Page 4

THE COLONIAL BANK ENQUIRY.

What has happened to the Colonial Bank enquiry? In 1903 both branches of the Legislature decided that the shareholders who had been deprived of their former power of investigation by a change made in the law during the progress of the liquidation were entitled to have their curiosity satisfied as fully as though the law had remained unaltered. The Government, however, did nothing to give etfect to the decision of Parliament, and early last session the question was revived in our columns. Subsequently Mr. Herdman, M.H.R., took the matter up, and asked the Premier "whether, with, a view of granting an enquiry into the winding-up of the Colonial Bank, they (the Government) will give effect to the report which the Public Petitions Committee presented to the House last session?" The Premier's answer was that the petitioners were entitled to the information they sought, and that it could no doubt be furnished by the Official Aasignec, whom they desired to supply it. He added, however, that "the Government is advised that the petitioners have their remedy by application to the Supreme Coxirt. which is the proper tribunal to deal with the matter ; and until the legal remedies are exhausted, it would obviously be improper for the Government to interfere." The pUbbcity given to .the grievance — a fairly substantial grievance, since it is based upon the as yet unaccountedfor disappearance of close on £400,000 — stimulated the Official Assignee into action, and on 12th August, two days after Mr. Herdman's question had been put, a Press Association message from Dunedin informed us that "In Banco this day Mr. Sim, on behalf of the Official Assignee, obtained leave to report on the Colonial Bank liquidation" ; and it .vas further stated that all the shareholders would have the opportunity of being represented at the enquiry. This was good news, but it is the last good news, and, indeed, fche last news of any kind, that tlie public

lnis had upon the subject. Can anybody tell us what is happening? Seeing that tho Official Assignee had becojne the liquidator of the Bank by virtue of the amendment referred to three years ago, he surely should not require many months to complete his enquiry and report.