THE COLONIAL TREASURER.

Poverty Bay Herald, Volume XXIII, Issue 7657, 16 June 1896, Page 2

THE COLONIAL TREASURER.

A MINISTERIAL CAUCUS.

MR SEDDON MEETS HIS FOLLOWERS.

FULL INVESTIGATION OF THE BANK BUSINESS PROMISED.

[From our Parliamentary Reporter.] Wellington, last night. Although members attending the Ministerial caucus this afternoon were pledged not to divulge what took place, it has transpired that the Premier, who was the chief spokesman, said that the Government courted the fullest investigation into the banking legislation and the Treasurer's relations thereto. He mentioned in this connection bis intention to move for the appointment of a Parliamentary Committee to go into the whole question of the management of the Colonial and New Zealand Banks, such Committee to have power to examine aa witnesses the President and General Manager of the Bank of New Zealand and the directors of the Colonial Bank, and to call for papers. - Mr Seddon further submitted a programme of Bills which he intended to go on with, aa.v outlined in the Speech from the Throne. " ' The Colonial Treasurer also stated bia desire to court the fullest publicity in regard to his relationship with the Colonial Bank. In answer to Riccarton Russell, who raised the question of the Anglo-Continental mining company, the Premier said that he was simply one of the Advisory Board and he had it in writing that there was no intention on the company's part to approaoh - the Government for concessions. The caucus lasted over a couple of hours and on the whole was sympathetically dis- ■ posed towards Mr Ward. Eventually it was decided to adjourn till half past twelve to-morrow, by which time it was hoped that Judge Williams' decision would be in the Premier's hands, intimation " having been received that it was to be -. delivered at the Chambers sitting in Dunedin at 10 a m. Nothing was said as to what action would be taken by Mr Ward, but it seemed to be an understanding that whatever the effecb of the judgment might be his resignation as a member of the Government will be announced to-morrow. Wellington, to-day. Several matters were touched on ad yesterday's caucus, and members are more inclined to be communicative this morning. The Premier having been questioned as to the banking legislation hinted at in the Governor's speech, explained that provision would require to be made for payment out of the first year's earnings of the Bank of New Zealand of interest on the £600,000 worth of preferred shares taken by the colony in the bank in accordance with the Act of last session, which makes no provision for such payment, but leaves it to the pleasure of the shareholders. The Treasurer admitted that he had been a daring trader, but affirmed that there had been no dishonesty on his part. He "re. - gretted that his position should have any detrimental effect on the party. He wag anxious that no conduot of his should place the Liberal party in a difficulty, and was quite prepared to fight his own battles. Speaking with some warmth Mr Ward * said that two of the directors of the Colonial Bank should not be permitted to esoape scathless. Mr Seddon mentioned that he had con- ■ -.- suited the president and general manager of the Bank of New Zealand, and that both were agreeable to the appointment of a Select Committee, as suggested by him, to consider banking matters generally. ' As to the representation question, he did - not think the boundaries could be readjusted sufficiently early to enable the next eleoV tions to be conducted under the altered electorates. Later, 1 p.m.— Just as members filed" into the adjourned Ministerial caucus news came to hand that the sale by the Colonial Bank liquidators to Messrs Bead and Lee Smith had been refused, and as the first report waa that judgment was in an entirely opposite direction, the effect of the later intelligence on the Government supporters can readily be imagined. The caucus is likely to laac " for some time, but it is an open secret that the Hon. Mr Ward's resignation will be announced, and that as a private member - he will ask permission to make a statement on the floor of the House.