THE COLONIAL BANK AND MR. J- G- WARD.

Nelson Evening Mail, Volume XXX, Issue 133, 6 June 1896, Page 2

THE COLONIAL BANK AND MR. J- G- WARD.

Affidavit by the Colonial Treasurer [United Press Association,] Dunkdin, June 5. Mr J. Q. Ward in his affidavit said, inter alia, in connection with the Colonial Bank (application :— ' ' The Colonial Bank holds my promissory note for £65,150. which was credited to the account of the J. Q, Ward Farmers' Association iu the books of the Bank, I was personally debited in the books of the Association with certain losses incurred in carrying on the business of tho Association and of tlie Ocean Beach Freezing Works, and the aaid promissory note represents the amount standing to my debitin the books of the Association at the time I signed the promissory note. I sicned it at the request of the General Manager of the Hank and the amount of the promissory note has been oredited to me in the books of the Association. Previously to giving tha promissory note I had signed a guarantee to the Colonial Bank guaranteeing an account of the Association to the extent of £20,000. In conjunction with Dr Hanan, of Invercargill, and others I signed a guarantee to the Bank guaranteeing the account of tho Hokonui Railway and Coal Cumpany to the extent of £5,000. Dr Hanan died in April 1894 and the Bank continued to carry on the account of tho Company after his death I have beon' informed that the guarantee given by Hanan, myself, and others has in consequenoe thereof, or for soma other reason, become legally unenforcible, and no one is any longer legally liable in respect thereof. I am indebted to the Colonial Bank in the suin of £I,OQO or thereabouts in respect of a draft on London, whioh waa in transit at the time when the agreement for the sale and purchase dated 18th October, 1895, between the Colonial Bank and the Bank of New Zealand was entered into. At the time when the Colonial Bank negotiated and paid a draft for me they had as seourity 1600 shares in Nelson 8r05.,: wbich were then at the value of £10 each. The shares are still held by the Bank, but bave now fallen in value to £2 10s per share, and so far as I cin see without anyprospeotof rising again. I aminformed that the shares ate now unsaleable. * Since tba formation of the J. G WawTFarmera' Association all monies I nave reoeived from all sources have been paid into the Association". The paper writing marked "A " oontains a full and true aoconnt of all tlie the property and effects, real and personal whioh I possessed, or in jvbioh I had any share or interest or possession, reversion or expeotanoy at the . time the Oolonial

Uni _»_.-t" ni r l ,i,l._t.irn».,_V.,v__- ini.m.MW.,' ji.i'i.,^',' ,"''''* .'■ 111. Bank Wtint into liquidation in fieoember, 1895, and, as nearly as I can ascertain, the: tbo full and true value thereof and encum-' branoes tbereon. I have.no property', whatsoever real or personal of anjrdesoriptton nor am I entitled either in possession or reversion to any 3bare or , interest .in any property whatsoever- .-'wbioh '■■ •is not included in the statement. I, have not parted witb, or agreed to sell, any part of my property, or effect's, real or personal, sinoe the Colonial Bank went into liquidation, I havo nsi>d my best efforts and all my influence witb my friends, to bring about the offer made by Mr Lee Smith and Mr Beid to the Offioial Liquidators for the purohase of the debt and securities for the same of the 3. Q. Ward Farmers' Association and several other debts and securities mentioned in the agreement, "