GENERAL ASSEMBLY.

Otago Daily Times, Issue 11200, 24 August 1898, Page 3

GENERAL ASSEMBLY.

LEGISLATIVE COUNCIL. TUESDAY, AUGUST 23, The Council met at 2.50. THE BANKING BILL. The debate on the second reading^ of the Banking Bill was resumed. The' Hon. Mr MONTGOMERY agreed •with the proposed constitution of the directorate and the appointment of a second auditor He did not think shareholders had been harshly treated, having, on the contrary, been treated generously. He opposed the proposal to refer the measure to a committee of inquiry, and announced his intention of supporting the bill in its entirety. a The Hon. Mr BONAR, regretted the suggested alteration in the directorate, the members of which were daily becoming more acquainted with the bank's affairs, which they were conducting on sound, prudent lines. He traversed the charges of extravagance and personal reflections on Mr Watson, and agreed with the suggested compensation. He strongly advocated the claims of shareholders, and thought the power of veto should not be entirely removed. The Hon. Mr BOLT agreed with the'compensation clause. Shareholders could not accuse the State of treating them unfairly, and to do so was a manifest absurdity in view of the figures that could bo adduced. Hon. members should remember the duty they owed to the State. The debate was continued by Messrs Rigg. \V. C. Smith, Kerr, and Jennings, all of whom, while favouring the amendment, strongly opposed setting up a special committee of inquiry. The Hon. W. C. WALKER having replied, The Eecond reading was agreed to on the voices. On *he motion that the committal of the bill h6 made an order of the day for Thursday, The Hon. Mr ORMOND moved that the bill should be referred to a select committee to be appointed by ballot. It was decided to take the debate in the evening Tlio Minister for Education, the Hon. Messrs Scotland, T Kelly, and Twomey opposed the suggestion, and the Hon Mr liowen gave it his support. The amendment was finally negatived on the voices, and the committal of the measure made an order of the day for Thursday, The Council rose at 8.20. j