PARLIAMENT.

Colonist, Volume LII, Issue 12710, 1 December 1909, Page 4

PARLIAMENT.

[United Press Association.] Wellington, Nov. 30. THE COUNCIL. In the Council this afternoon a further discussion took place on the following motion by die Hon. E. C. J. < Stevens; "That in the opinion ot this Council it is expedient that facilities i be given, for the registration in name ■ of holders of any bonds of New Zea- , land Government which are payable to bearer, and if the local bodies in Now Zealand are not empowered to establish a similar system of registration of any of their bonds P a s' able to bearers th& nece,sary power should be given them." The Attorney-General replied at considerable length. He said no general desire had been expressed to aU ter the present system, which had bAcn in force for forty years. Any alteration would destroy the feature of the present system, viz., the negotiatibility "of such documents. On a division the motion was lost by 25 votes to- 7. ' The Council adjourned.