Banking Committee.

Opunake Times, Volume V, Issue 215, 25 September 1896, Page 2

Banking Committee.

MORE FRICTION. Wellington, September 21. Mr Vigors, one of the liquidators of the Colonial Bank, was examined. To Mr Seddon witness stated the liquidation of the Colonial Bank under the Act last session was injurious to the most disastrous process and cost between six and seven thousand annually, which came out of the pockets of the shareholders. It would be better for all concerned it the Bank of New Zealand bought the whole of the remaining accounts at a value to be agreed on. September. 22. At the Banking Committee this morning nearly an hour was wasted before the minutes were confirmed.

Both Ministers tried to get a question put by Mr Hutchison yerterday, and which had been ruled out of order, struck off the minutes but the only supporter was Mr McGowan. After the minutes were confirmed, Mr Seddon remarked sotto voce that “ he was sick and tired of the whole damned proceedings.” The Minister of Lands complained of the cessant interruptions by Mr Hutchison, and went on to speak of expelling that gentleman from the Committee proceedings, whereat Mr Hutchison replied “ I would like to see you try it.

The Hon W. W. Stewart (examined by Mr Seddon) stated that he was not satisfied with the manner in which the Bank of New Zealand was treating with accounts in the B list. The Bank of New Zealanh was iu many instances adopting a suicidal policy in connection with these accounts, and he considered that instead of the present process the Colonial Bank should be wound up under its deed of settlement.