The Banking Committee.

Mataura Ensign, Issue 164, 18 July 1896, Page 3

The Banking Committee.

— ♦ OFFICIALS REFUSE TO DIVULGE SECRETS. The banking inquiry was resumed on Tliursday, when Mr Watson, President of the Bank of New Zoalnnd, was summoned to give evidence. Iv reply to Mr Seddon, who asked who were tho persons whose names appeared in connection with tho accounts written off, Mr Watson replied that he and all the other bank oflicials had signed a declaration agreeing not to disclose anything relating to individual accounts. Kr Theo. Cooper (who appeared on behalf of the Bank of N.Z.) stated that ho had advised the bank officials to refuse to give any information concerning tho accounts of any of the customers of the Colonial Bank. Mr Guinness gave notice to move for the balance-sheets <md all returns since their formation, with a certified copy by duly qualified accountants, up to 80th Juno, 1896, of Walter Guthrie and Co., the Piuo Co., Colonial Hard ware, Woodware, and Implement Co., and the Colonial Implemenl and Engineering Co. The motion also asked for a large amount of other information in regard to theso companies, and requested that various persons connected with the companies be summoned as witnesses. The proceedings of the Committee were resumed yesterday. Most of tho morning was occupied in deliberating behind closed doors, and at 12.50 the chairman told Mr Watson that the Committee would repeat the question he (Mr Watson), had declined to answer the previous day with regard to the writings off in connection with the Bank of N.Z. in 188,8, and thus give liitn another opportunity ol answering it. The chairman then put tho quos- ■ tiqa as follows— »' What are the names of i tho persons and corporations in whose favor the writings off took place ?" Mr Watson replied : I regret I have to repeat my former answer — viz., Having regard to the terms of my appointment - and the declaration of secrecy, I must , deoline to give any information regarding [ any individual accounts whatevor, past or ■ present, and Lam acting under tho advico s of the bank's counsel, and, further, I con- ) sider it my duty to the bank and tho fc oolony to decline to givo such inforl mation, I When the Committee adjourned for the j day it was understood that the Premiei t would move that night that Mr Watson i be fined LSOO.