SATURDAY, JUNE 27.

Otago Witness, Issue 2209, 2 July 1896, Page 24

SATURDAY, JUNE 27.

There is a gtod deal of speculation about tbn balance fheet of the Bank of New Zealand recently published. Whereas tbe approximate estimate of additional earning power of the bank under the amended proposals submitted to Parliament last session was stated at £136,750; the total to the credit ot the profit and less account for last year is only £52,576. At to the position of the profit and loss accounteome further information than h&s already been vouchsafed is no doubb desirable. Especially will there be some curiosity evinced regarding the 7 provision for bad debt*, and the item in the assets " other advances and securities and debts due to the bank ,£7,282,525." However, the colony is now committed to the bank. It cannot go back on it. ( Already there is a proposal that tbe ' Government shall have another nominee on the board of directors' of the bank. Thii would give the Government, with the president, four representatives out of the seven who guide the dettinies of the bank. There is likely, however, to ba some very bitter .opposition to this proposal. ludeed ib will probably lead to one of the biggest fights of the session.

THE- BANKING LEGISLATION.

The £500,000- north of debentures issued by the Government to the Bink of New Zealand were so issued without any security being given for the payment of the interest on them. Yesterday Dr Newman asked how this happened and what steps the Government proposed to take to remedy it. The Premier said it was quite unnecessary for the doctor to ask this question, *.s hs already knew how the set came to be passed. The payment of the interest was secured by a charge on the earnings of the bank, ranking next to the payment on the preferred shares. It was now contended, however, that this payment was contingent on the vote of the shareholders. He admitted that, notwithstanding the number of legal gentlemen in the House, this question of interest payment had escaped notice. The payment of the interest should be made by tbe bauk and not be voted by the ! shareholders. An act would be passed this session making clear that there was no necessity for tbe shareholders voting the payment of tbe iuterest.

I THE BANK- COMMITTEE DIViSION. *.

The- divis-o i li«t ou the. motion for the adjournment of the debate on the Banking Committee was :— For the Adjournment (32).— Messrs Buddo, Cadman, Ciirncios-i, Camell, Duncan, Flatman, Graham. Guihms*, Hall, Hall- Jones, Harris Hogg, Houston, Jo)«, W Kelly, M'Rowan, T. Mackenzie, B» M'Keuz'e. Meredith, Millar, Mills, Mitcheleon, Montgomery, Morrison, O'Regan, 4 Parata, Pinkerton, Ssddon, Steveus, Steward, ( Tanner, WillU. I Against tub ADjoy&NM£NX $>$).— MeasetAUen,

Bell, Buchanan, Buiclc, Collinn, Crowtber, Duthie, Karmhaw, Fraser, Green, Hrkc, G. Hu.chison, W. Hutchison, J. W. Kelly, Lang, Lewis, Masnn, Mftssey, M'Nah, Newman, Pirani, 6. W. Russell, W. Russell, Sauaders, G. J. Smith, Stout, R. Thompson, Wilson. Pairs.— For: Messrs Carroll, J. M'Kenzie, Mackintosh. Against: Messrs M'Guire, Te Ao, Lawry. UNAUTHORISED EXPENDITURE. The return of unauthorised expenditure shows that the so-called Native disturbance at Ruatoki and Te Wbaiti, in the Uriwera country, cost the colony £2077 9s 2d. The cosb of tranf pott, including travelling expenses and hire of horses, was £1123 3» 10 J, and of provisions and boa.rd and lodging £577 1b 7d. Among other items of unauthorised expenditure h £80, cjmpaspjonata allownnce to the mother of the late William Kelly, letter carrier, Duuedin, and £12 paid for railway fares for men sent to Otago goldfielda by the Otsgo Miners,' Association.