THE COLONIAL BANK.

Hastings Standard, Issue 248, 16 February 1897, Page 2

THE COLONIAL BANK.

Once more this financial corpse has boon resurrected, and on this occasion the former general manager of the Dank parades it before the public. Mr llenry Mackenzie has resigned his position as general manager of the Hank of New Zealand, and the directors have accepted his resignation. Simultaneously with the announcement there appears in the New Zealand Times a letter of a very considerable length in which MiMackenzie defends himself against the attacks of the Colonial Bank. It is unnecessary to analyse the evidence he adduces in justification of his conduct or in the explanation of his acts, as it would be a mere waste of time. We can, however, congratulate Mr Mackenzie on his determination to present himself before the Supreme Court for examination. In his letter, Mr Mackenzie says. "In conclusion, 1 am not insensible to faults in judgment made clear by the light of subsequent events, but I claim that my actions were always guided by honesty of purpose, and by what 1 considered my duty to my employers. To establish this L have sought the advice of counsel as to the propriety of requesting that 1 should be examined by the Supreme Court in the matter of the liquidation of the Colonial ltank, and the advice having been favorable to it, I have instructed my solicitor accordingly." This is the only honorable course open to Mr Mackenzie and it must be gratifying to his friends that lie is able and willing to take that course. In the Supreme Court, daylight will be let into much that is now dark and impenetrable, and it would have been better for most of those- concerned had tin- services of the Supreme Court been earlier invoked. To the public it wotdd be cheering news to learn that Mr W. Watson, formerly the IlLsJkctor of the Colonial lUltlk and now the President of the Hank of New Zealand, bad decided to adopted the same course as Mr Mackenzie. The mysteries that have surrounded the Hanking Hn-ine-- are on the eve of being dissipated and the public will b<* thankful when the «-nd is reached.