The Banking Inquiry.
THE COUNCIL'S REPORT,
[By Telegraph.]
(From our Special Correspondent.)
Wellington, This day
It is generally conceded that the report by the Banking Committee of the Council is of a colorless character. This result is said to be due to the fact that the Committee were evenly divided owing to the absence, through indisposition, of the Hon Shrimski. The report is not so severe in one or two respects as the draft report prepared by the sub-Committee. The " Oats " transaaction is practically dismissed with, the remark that " the evidence shows the nature of this transaction."
Owing to the difficulty of disposing of the larger properties held by the Realisation Board it is suggested that they should be utilised so far as they are suitable for settlement under the Laud for Settlement Act.
In discussing the position of the Estates Company the report concludes as follows :—" That the condition of the Bank requiring financial aid to be obtained at such a cost makes it impossible to escape the conclusion that in preference to the creation of the Estates Company in the form adopted the Bank should have been liquidated in 1890."
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Bibliographic details
Hastings Standard, Issue 125, 19 September 1896, Page 2
Word Count
192The Banking Inquiry. Hastings Standard, Issue 125, 19 September 1896, Page 2
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