GENERAL ASSEMBLY.

Temuka Leader, Issue 2887, 29 October 1895, Page 4

GENERAL ASSEMBLY.

LEGISLATIVE COUNCIL. The Council met at 2.30 p.m. last Friday. NATIVE BILL. The Native Land Claims Adjustment Bill, and the Natives Reserves Act Amendment Bill, were read a second time. The Native Lands Laws Amendment Bill passed its final stages. BILLS PASSED. The Public Works and Government Railways Act Amendment Bill, Public Reserves Disposal and Exchange Bill, Public Reserves Vesting Bill, and Mining Act Amendment Bill passed their final stages. LAND BILL. lii committee on the Land Act Amendment Bill, clause 8, reserving all grave', minerals, etc., to the Crown, was struck out by 14 to 9. Prug;ess was reported. The Council met at 2.30 p.m. on Saturday. SECOND READINGS. The Agricultural and Pastoral Statistics Bill, the Pastoral Tenants Relief Bill, the Public Revenues Act Amendment Bill, the Lunatics Act Amendment Bill, and the Manual and Technical Elementary Instruction Bill, were read a second time. BANKING BILL. The Bank of New Zealand and Banking Act Amendment Bill passed its first and second readings. HOROWHCNUA BLOCK BILL. After resuming at 7.30 p.m. the Horowheuua Block Bill was road a second time on the voices. SHOP AND SHOP-ASSISTANTS BILL. The Council insisted on its amendments iu the Shops and Shop-Assistants Act Amendment Bill. BILLS PASSED. The Manual and Technical Elementary Instruction Bill passed through Committee without amendment, and was put through its final stages. The Banking Bill passed through Committee without amendment, and was read a third time and passed. The Agricultural and Pastoral Statistics Bill, tht« Pastoral Tenants Relief Bill, and the Public Revenues Act Amendment Bill, passed their final stages.

HOUSE OF REPRESENTATIVES. BANK AGBEENBNT. The following is a continuation of the debate on Mr Bell’s motion traversing the Bank agreement on Friday. Sir Robert Stout said that it was perfectly evident that the House could not form a proper conclusion without more information. The figures showed that the purchasing bank had to take over some doubtful assets, and he calculated that the Bank of New Zealand was paying £78,505 for the goodwill of the selling bank. He suggested that the agreement should be referred to a Secret Committee, to go into the Whole matter before asking the House to decide on it. The Premier submitted that not a single reason had been urged for the rejection of the agreement, and it would be against the provisions of the Banking Act of last session to adjourn the debate. Bill after Bill had beau brought down. He moved as au amendment—“ That the directors of the Bank of New Zealand having in accordance with the recommendation of the Joint Committee of both Houses (which recommendation was passed into law) and with the approval of the officers representing the colony, and after careful enquiry into the accounts and position of the Colonial Bank of New Zealand, agreed to purchase the business of the said bank upon the terms set forth iu the agreement which has been laid ou the table of both branches of the General Assembly, this House, notwithstanding that the contract does not in minor details comply with the law, does not dissent, and recommends that legislation be introduced to remedy any defect.” He contended that the assets of the selling bank were set down at the lowest possible rate. Those members who were supporting Mr Bell’s motion were trying to undo the work of the House in the earlier part of the session. Thq House should accept the statement of the responsible officers of the Rank of New Zealand, that a most careful pad exhaustive enquiry had been made inin the position of the Colonial Bank. The Rebate was interrupted by the luncheon adjournment.

The House resumed at 2.30 p.m. The Hon. Mr McKenzie seconded the Premier's amendment, approving of the bank agreement. Mr George Hutchison said that the question for them to consider was whether the paramount interests of tha colony had been safeguarded in this agreement; but he hel l that the Council Bank was the dominating power throughout, and that the interests of the colony had not beet) considered in the matter. The Premier asserted that the president of the Bank of New Zealand had looked after the interests of the colony, but he (Mr i Hatehjaon) stated that the president was a sharehehipr of the Colonial Bank, and naturally from iiis associations he was concerned in the w^UwecftJjjtinstitution. Tho whole aspect of affairs was, iU his opinion, such as to cause grave aosioty to the colony generally. Mr Ward deprec*ted these attacks on men in high positions, who were unable to defend themselves. It was unfair to charge the president with unduly favour- ! ing the Colonial Bank. During the course of the present negotiations no member of the Ministry had interfered with them in any way. As a matter of fact the Premier had informed him that neither the president of the bank nor the general manager of the Colonial Bank were shareholders in the Colonial Bank. Both the president an<£ auditor of the Bank of New Zealand had approved of the conditions of this agreement, and they knew that they were there for the purpsiip of conserving the interests of the colony, ii jyas not likely that they would consent ti it it itq wbta> wot, to the advantage of the colony as well as dc J,h o bank. As to the protests made against further information not having been supplied, Imp pontended that they were bound to rely on the judgment of the d rectors and officers of the bank, and it would do the Bank of Now Zealand great injury if the whole of the detail p.otod for by mom hers wore published. Dr Newman vuwdtvie if ?nno was or,titled to far more iiifurmatiwu .w the whole subject. Mr Dothie contended that the Govern-1 m.&on, tfftouM have appointed a director on the to represent the colony more fill y, tti.nl sued the opinion that great lo>b would ,u,lt/;nately bo sustained by tho taxyapors of the snippy. As to the position of the Colonial Bank, ha assorted that tho whole of its capital was gone, pud the House was now stopping in like a parcel of f >ols to boLter it up with the taxpayers’ money.

Mr Montgomery thought that the ngreeiij nt was almost a farce without tho question of goodwill having been specifically mentioned, and no one had yet stated what the goodwill vras to be.

Captain Russell preferred taking the opinion of the president, auditor, and font directors of the Bank of New Zealand to that of any member in the House. He was not in a position to set his opinion against that of those gentlemen who he felt sure would see that the colony made the beat bargain possible. He should vote for amalgamation because he felt himself incompetent to judge on the matter, and he should accept the opinions of the officers concerned. Mr Crowther took a similar view of the matter. On a division Mr Bell’s motion of dissent was lost by 29 to 23. Ayes—23. Bell, Buddo, Buick, Crowther, Earnshaw, Hall-Jones, Heke, Hutchison G., Joyce, Lang, Massey, McGowan, McNab, McGuire, Meredith, Montgomery, Smith G. J., Saunders, Stout, Tanner, TeAo, Thompson, B. Wilson. Noes—29. Buchanan, Carncross, Carnell, Carroll, Duncan, Graham, Hall, Harris, Hogg, Houston, Kelly W., Macintosh, Masliu, McKenzie J., Mills, Newman, O’Regan, Parata, Pere, Pinkerton, Pirani, Bussell G. W., Russell W. 8., Seddou, Smith E. M., Stevens, Thomson, Ward, Willis. Pairs. Ayes Mitchelson, McKenzie R., Lawry, Duthie, Allen, Flatman. Noes—Cadmau, Steward, MoLacban. Reeves, Fraser, Guinness. The House rose at 5.30 p.m. The House resumed at 7.30 p.m. Without further debate the House divided on the Premier’s amendment, approving of the bank contract, which was carried by 26 to 24. The Hon. Mr Mackenzie said that the Premier had made inquiries since the afternoon, and found that the president of the Bank of New Zealand was interested in the Colonial Bank to the extent of 230 shares, valued in the open market at £57 10s. He held that to insinuate that an officer holding the position that Mr Watson did would sacrifice the interests of the institution he represented for the sake of that sum was was very unfair and very wrong. Mr McGowan, Mr W. Hutchison, Mr G. W. Russell, Mr Pirani, and Mr Meredith also spoke, and Mr Bell having replied the Premier’s amendment us the substantive motion was put and carried by 31 to 24. THE NEW BANK BILL. The Bank of New Zealand and Banking Act 1895 Amendment Bill was introduced and read a first time. It provides that as the bank contract has been duly laid on the table of the House, notwithstanding the absence of auy books or documents forming part thereof, the contract is declared to be approved by Parliament within the meaning of sections 37 and 38 of the Principal Act, and upon ratification by the shareholders of the Colonial Bank the contract shall become absolute. Clause 4 provides that from the date appointed for the transfer of the business of the Colonial Bank cheques, bills of exchange, promissory notes, etc,, payable at that institution shall be presented at the Bank of New Zealand, Clause 5 provides that iu all proceedings relating to the lists A, B, C, and D certificates as to contents shall be evidence without production of the lists; and it shall not be necessary to produce any of these lists or any of the books and documents at any meeting of shareholders of the Colonial Bank called for the purpose af ratifying the said contract. A copy of the resolution of the Colonial Bank shareholders ratifying the contract is to be published iu the Gazette. SATURDAY SITTING. It was decided by 33 to 27 that the House meet at II a.m. to-morrow. The Premier stated that the session could not close until the beginning of next week. RBRNUILL RAILWAY. The Premier moved the second reading of the Fernhill Railway Purchasing Bill, to authorise the purchase of the Fernhill Railway.—Agreed to. IN COMMUTES. The Banking Bill was committed. In clause 3, Mr G. Hutchison moved a proviso to the effect of which was to prevent the bank taking the assets of lauded property at their book value.—Lost by 26 to 19. Sir R, Stont moved to add to the clause that the selling bank shall provide compensation for all its officers who cannot obtain employment from the purchasing bank, the compensation to be one month’s salary for each year of service. He said that this only meant a few thousand pounds, and it would not affect the Bank of New Zealand at all. Mr Ward opposed the amendment. The Colonial Bank would provide for its officers without making it mandatory. After a short discussion the new clause was negatived by 31 to 19. The BUI was reported from committee read a third time by 24 to 18, and passed

THE HOROWHENUA BLQCi; BILL. The Horowheuua Block Bill was passed through Committee with amendments made by the Native Affairs Committee. A new clause was added on the Hon. J. McKenzie’s motion, setting up a Royal Commission to enouire fully into the sale of the block, and all dealings in connection therewith. The Bill was then reported sud put through its final stages on the voices At 2.10 a.m. the House adjourned till 11 a.ia. I he House mat at 11 a.m. Saturday. BREACH OF PRIVILEGE. Mr Dwmach, Chairman of the Public Accounts ComipUjMeO; called attention to what he regarded as a bpeaph of privilege on the part of Mr George Hutchison, who on Thursday last gave notice Q' a question ■ relating to some evidence taken before the Public Accounts Committee. The Speaker ruled that it was a breach of privilege to publish evidence tak«n before a Select Committee, before that, Committee had reported to the House. The Premier, in ordsf to give Mr Hutchison an opportunity for explanation, moved that a breach of privilege had been GomC-jlted. Finally, an explanation by Mr Hutchison, the ty.qmjer’a mo ion was carried by 31 to 12. Mr Hutchison said he at once recognjisod and bowed to the decision of the House, 1 and wjshed to express his regret that under tii.' circumstances he had committed a technical, breach of. tfio Standing ; Orders Mr Earnshaw moved that tht adjourn ti l 11 a.m. on Monday, which | was lost by 32 to 30, and at 1.30 p.m, ! the House adjourned till 2 30 p in. ” Xh.v House resinned at 2.30 p.m. VHOESiIf.WL£ r.M - MIGRANTS BILL. Mr Ward moved io the Asiatic and other Immigration Me.rnictym id ill 1 on tho Order Paper. Ho said that the 1 Bill had been shelved tho other day by a catch vote. fho motion was lost by 27 to J 7. T r l?E ( TIE-MIS BILL. Mr Mills moved the second reading of tho Criminal Code Amoudmon/; Bill, which provided that within .twelve mopths after a conviction for any criminal offence, application could be made to the Court of Appeal for # yew trial by either tho

prosecutor or the person convicted. This provision, however, was extended to the case of the prisoner, Louis Ghemis, provided application was made within twelve months of the passing of the Act. An amendment by Mr R. Thomson that the Bill be read a second time that day was lost, and after some debate, during which Sir Robert Stout spoke against the Bill, the motion was adjourned. AMENDMENTS ACCEPTED. The amendments made by the Legislative Council in the Public Works and Government Railways Bill and the Native Land Laws Amendment Bill were agreed to. PUBLIC SECURITIES BILL. The Public Securities Bill was further considered in Committee. Clause 2—Provision for ensuring the safe custody of certain securities. Mr Ward moved to amend the clause so as to provide that the securities iu respect to each office shall be kept, and used solely for the purposes of that office.—The amendment was agreed to. No further material amendments were made iu the Bill. LOCAL AUTHORITIES LOAN CONVERSION BILL. In Committee on the Local Authorities Loan Conversion Bill, Harbor Boards were included in local bodies coming under the Act. At 5.30 p.m. the House adjourned till 7.30 p.m. The House resumed at 7.30 p.m. In Committee on the Local Authorities Loan Conversion Bill, Mr Carncross moved to report progress. Eventually the motion to report progress was lost by 27 to 18, At clause 11 Mr Ward moved to add a now paragraph, proving that iu any case of sinking funds being released by the conversion of a loan, the residue, after payment of costs, shall be applied as the the local body thinks fit, either for the purpose of paying off any premium on the conversion operation, oriu augmentation of a sinking fund to be established for the purpose of repayment of the converted loan on maturity. The amendment was agreed to.

In clause 15 Mr Ward moved to alter the limit of the term of the currency of a converted loan from thirty to fifty years.

After a long discussion Mr Ward’s amendment, making the term of the currency fifty years, was carried by 18 to 15. Clause 17, relating to the transfer of debentures, was struck out on the voices. A new clause was added, on Mr Ward’s motion, providing that every local authority before converting a loan under the Act, shall make provision to the satisfaction of the Public Trustee for the repayment of the converted loan ct maturity by the creatiou of a sinking fund. Mr Ward moved a new clause (to re place clause 17), providing that the Governor-in-Council may empower auy local authr rity to inscribe its conversion debentures in the books of such bank as he approved of. After considerable discussion the clause was carried by 24 to 14, The Bill was reported with amendments. Mr Ward moved for the recommittal of the Bill to amend clause 2, but the debate was adjourned till Monday. NOTICE OE MOTION. Mr Reeves gave notice to move on Monday for leave to introduce the Chinese Immigrants Restriction Bill. BUSINESS OP THE SESSION, In reply to Captain Russell, the Premier said that the business of the session ought to finish absolutely on Tuesday night, and Parliament would be prorogued on Thursday. At midnight the House adjourned till 11 a.m on Monday.