THE BANKING COMMITTEE.
YESTERDAY'S SITTING. [United Press Association.) Wellington, September 18. The Banking Committee resumed at 10.30 to-day. Mr W. G. Foster was further examined. To Mr Montgomery : Witness stated tbat there was a large increase in the profits of the Bank of New Zealand Estates Cpinpany for 1895-96 amounting to £51,000, of which '£19,000 was due purely to economies in management. The large increase of earnings from stations, notably Awatore station, Marlborough, was due to the rise in the price of merino wool. He considered that the Estates Company would make an inoreased profit this year, taking into account that some of the properties showing the best returns were being sold. To Mr Maslin : Witness certainly thought that the value plaoed on the Fiozen Meat Company, in Auckland, would be realised. Witness's impression was that the sum of £700,000 provided by the Bank in case of deficiency in the realisation of the Estates Company's properties would not all be required. The properties in the douth Island would eventually bo cut up for settlement, and there would be no difficulty in disposing of them. The Committee thcu adjourned.
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Nelson Evening Mail, Volume XXX, Issue 222, 19 September 1896, Page 2
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188THE BANKING COMMITTEE. Nelson Evening Mail, Volume XXX, Issue 222, 19 September 1896, Page 2
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