The Banking Legislation.

Opunake Times, Volume IV, Issue 189, 26 June 1896, Page 3

The Banking Legislation.

Wellington, June 23. In the House to-day Mr Seddon gave notjCe of the following amended motion :—That a Select Committee of ten members be appointed to examine and report upon the following matters : (1) The position of the Bank of New Zealand, Bank of New Zealand Estates Company (Limited), Auckland, Agricultural Comphny (Limited), and the Colonial Bank of New Zealand, both prior and subsequent to the banking legislation of 1893, 1894, and 1896, with special reference to all circumstances leading up to that legislatiou, the fullness and accuracy of the information then disclosed by the directors, officers, and persons attached to those institutions, and the capacity and fitness of those persons as direc-. tors and officers, (2) To ascertain what amounts have been written off and what led to the same, and to deal with all such other matters as the Committee deems necessary or expedient in the premises, provided that’ Committee shall not be empowered to enquire into the ordinary business of persons or companies doing business with the Bank of New Zealand excepting so far as to the writing off, and what led to the same ; the committee to have the power to call for persons and papers, and to confer with any similar Committee appointed by the Legislative Council; the committee to consist of the Hon McKenzie, Captain Eussell, Messrs Buchanan, Gra- ■ ham, Lang, Montgomery, McGowan, Collins, Houston, and mover, and to report within twenty-one days. Mr G. Hutchison gave notice to move an amendment in the motion of the Bankruptcy Enquiry Committee : (1) As to the proposed membership of the Committee, that no member of the Bank of New Zealand Committee of last session shall be a member of the Committee. (2) That the Standing Orders be suspended, so that when the Committee is examining witnesses reporters of the press shall be admitted, I and so that reports of the proceedings j may be published from day to day.