The Banking Inquiry.
Special to Standard,
Wellington, This day. Examined by the Premier at the Banking Committee, Mr J. G. McCarthy, one of the directors of the Bank of New Zealand, said his opinion was that Mr Watson ought to have known more about the £20,000 investment when he made it and also about the £SOOO investment. In discussing the question of the appointment of Mr McKenzie as general manager Mr Watson was the most pressing of the directors who desired the appointment. Witness had come to the conclusion that Mr McKenzie was partly responsible for the position of the Colonial Bank. The directors and other officers of the institution might also be blamed. He was still of the opinion that Messrs Watson and McKenzie should not be left together in charga of the Bank of New Zealand, not because he thought them incompetent. He did not think himself capable of expressing an opinion regarding their banking ability, bttt because they had been together too long and were likely to be in the same groove. Whatever position was held by Mr Watson or Sir McKenzie he thought the opinion of the former would prevail.
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Bibliographic details
Hastings Standard, Issue 117, 10 September 1896, Page 2
Word Count
194The Banking Inquiry. Hastings Standard, Issue 117, 10 September 1896, Page 2
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