Colonial Bank Inquiry.

Hastings Standard, Issue 267, 10 March 1897, Page 2

Colonial Bank Inquiry.

[By Teleokapii] (Per Press Association.) Dunedtn, March 9. In the Supreme Court to-day the examination of Mr Henry Mackenzie, late general-manager of the Colonial Bank, was resumed. Mr Solomon's examination was directed to various phases of the Ward Farmers' Association's account and the transactions by which the association's overdraft was reduced at balancing time. Witness said he discussed the £•55,000 cheque transaction with the chairman of directors as a curious thing for Mr Ward to do, but so far as he could recollect it had not been brought before the directors as a body. Mr Ward said he did it because of implied authority in a letter. No official explanation was asked for from either Mr Fisher or Mr Ward. I lithe oats transaction Mr Mackenzie said he did not know that he had definitely instructed Mr Yigers when ho sent him to lnvereargill to draw on London with respect to whatever oats he could iind. What was in his mind was that the matter should be looked into and credit fixed up to be operated on. It never occurred to him to tell Mr Yigers to satisfy himself that the oats were really in store; he never doubted their existence. Mr Mackenzie al<o gave particulars respecting Mr Ryley's account, and said constant requests were being made to the 1> lined in manager to keep it down. With reference to the A'l ">O,OOO which he he toid the Hon (ieorgy M'Leau would clear the bank he said the thiny had gradually yrown upon him owing to the depreciation of property. M"r Hoiking then examined Mr Mackenzie, who gave the system which he found in operation of appropriating -aims to meet losses. He then t;a\c the history of the Ward I'anm t >' \--.dilation's account, quoting extensively from letters to anil from the head oftico and the lnvereargill branch and the Association t<> -how that the, account was cio-cly su|>ervised and every etl'ort mad. iy the head oilico to get it reduced, the suggestion being that it was owing to the branch manager at lnv< rcaigill that the indcluednehs increased. KuraeH were read from the. n-ports of managers and insjMer.or->. who repeatedly re fx) r ted on the v.ihubie nature of the Ward As.MH Li!t..fi - account. In reply to tli«- »h.t refcraad to the di-e»>\ers of a -"hortrtu'e of uwtlt 1.'.0.000 hay- of .■•f', Mr Mackenzie said that th>- 111-.I rvinrul manager having (.< • !! in the eram line himself, he (Mr M lek. !!.*;•■; '..id t ..TV eon tide!:' that hi «-■■■ id e that all warrant were Mspp- rt'd l.y oat-. The . x.imn,.it adj."irr.td till Frtdav.