MR. JACKSON, Manager of the Union Bank
of Australia — Examined.
Q. Has the Union Bank discounted for Mr. James Macandrew an accommodation bill of Mr. John M'Glashan, which bill was retired by the acceptor, Mr. John M'Glashan, and when?
A. An acceptance of John M'Glashan to James Macandrew & Co. at four months, £500, was discounted in June, 1859, and renewed at three months' date,' discounted iv Novr. 1859, which latter bill was retired in cash — paid in cash on account of acceptor four days alter maturity, namely, on 11th February, 1860. I was informed by Mr. Macandrew that these bills were discounted for the accommodation of Mr. M'Glashan, pending the disposal of cattle, which Mr. Macandrew stated had been placed in his hands for sale by Mr. M'Glashan.
Q. Did Mr. Macandrew exhibit to you documents showing that he held stock of Mr. M'Glashan as collateral security ?
A. I have no recollection of having seen any document showing that Mr. Macandrew held stock belonging to Mr. M'Glashan as collateral security.
Q. Has the Union Bank discounted for Mr. James Macandrew a Bill apparently for Mr. M'Glashan's accommodation, but which was retired by Mr. Macandrew, and when ?
A. The acceptance of John M'Glashan to James Macandrew & Co., £500, discounted by me in June, 1859, and renewed ia November, 1859, was the only bill transaction I have had with the two names, and. this bill was, I believe, retired on account of Mr. M'Glashan. Q. Has Mr. John M'Glashan frequently had accommodation from the Bank ?
A. Mr. John M'Glasban has never to" my knowledge received any other accommodation from the Bank than the £500 bill transaction with Mr. Macandrew, already referred to.
Q. Has Mr. J. M'Glashan kept a private account with the Bank within the last two years ? A. He has never kept any private account with the Bank.
Q. When foreign Bills are drawn by the National Bank of Scotland, are they usually issued in duplicate only ?
A. Tim Bank being Agents for the National Bank of Scotland* the latter generally draw upon us in duplicate by letter of credit. Drafts of the National Bank of Scotland on their London Agents (Messrs. Glyn & Co.) drawn in sola, duplicate and triplicate are occasionally brought out to the colony for negociation,
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Bibliographic details
Otago Witness, Issue 497, 8 June 1861, Page 2
Word Count
379MR.JACKSON, Manager of the Union Bank Otago Witness, Issue 497, 8 June 1861, Page 2
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