A DISCREDITED STORY.

Evening Star, Issue 12900, 24 August 1906, Page 7

A DISCREDITED STORY.

It is a little unfortunate for Mr Macintosh, a former manager of the Bant of New Zealand, who is now resident in Sydh,is recenA visit to Wellington mould nave been seized upon by the representative of a syndicate of ‘newspapers there as an excuse for reviving the story of disagreement between himself and -lr Beddon in regard to the Government's methods of finance. Unkind people will be apt to draw inferences which would not be creditable to Mr Macintosh. The sforv was emphatically contradicted on the very highest authority as long ago as January last, and its revival now, when the person principally_ concerned is unable to speak for himself, seems t-o us ncsitiTelv indecent. After stating that “ it has been well known in certain quarters for some time past that it v. as the attitude of the late 1 rentier that was responsible for Mr Macintosh s retirement." the message goes on to say that the present manager ds desirous of leaving lac cdiony for tne purpose of residing m England. and then broadly suor. gests that Mr Macintosh should he appointed as his successor. "Seeing that there is no other strong man of outstanding ability who com-’ :• - obtained to fill the position that nd. o. come vacant by Michie s G-f Dtirtnrc, it riinii, tions have be. ,: made in certain influential quarters that the status quo ante should bo agreed upon. Such a reappointment would, I ktiovy. be received with satisfack/j a fJOIIs -’^ eTa ble number of the shareand also by the commercial community.” If the message had stopped here no one could have taken any great exception to its tone. The correspor.dent, however, was not content with merely giving a lead to :hc directors; lie proceeded to reiterate the story of Mr Macintosh’s retirement and to nint at the mysterious last word ” that remained to be said in regard to the incident. "The friction that ensued between the late general manager and the powers that be in regard to Government finance some time before the former's resignation of his position is nowadays quite openly talked about, though it was denied at the time, and it is quite possible that the last word on the subject j)i the late general manager's resignation has pot vet been heard.” The suggestion here is that, ' the friction between the late manager and the powers that be ” was due e improper interference* on .the part . e Mead of the Government, ' and in giving this an unqualified contradiction we can quote a paragraph from the president* address at the last annual meeting of the shareholders of the Bank. “Mr Seddon always evinced the deepest concern in the success of the institution, and at all times exercised his great influence in the direc- % , b f st interests of the M 1 t fc K T> ld ! . n ref erring to the death of the late Premier. “ During the lengthy absence of Mr Seddon in Europe Brr Joseph Ward, the then Acting-Premie P r olso always extended to myself and the Board of Directors every courtesy and connderation. Let me add, as my colleagues ivdl bear me witness, that whilst we have ijeen called upon to discharge the onerous iuties which devolve upon us. we have at

all times beep absolutely untranijnelled In 1 the conduct and control pf thb business of' the Bank.” These words, it should bo remembered, were spoken with tlie full concurrence of Sir James Prondergast, Mr William Watson, Mr' Martin Kennedy, and Mr Malet’s other fellow-directors, and to repeat now the story to which they were obviously intended as a reply is to cast a slur upon gentlemen of the very highest integrity, as well as to dishonor the memory of the colony’s greatest statesman. Mr Macintosh may well pray to .be saved from the advocacy of his friends.—‘Lytteh ton Times.’ '