THE BANKING ENQUIRY.
[per press association.! Wellington, August 21. — Tho Banking Committee met at 11 o'clock this morning. The examination of Mr Watson was resumed. Witness handed in a statement prepared by the accountant of the Bank of j New Zoaland, Bhowiug that the per centage of coat of management of the Bank to its gross earnings, prior to the amalgamation, was 73*54, and since the amalgamation was 58*2. Under examination by tho Hon Mr McKenzie, witness said the legal business in connection with the Banking legislation could not have been done cheaper. The chief cause of the Bank's troubles was advancing money too extensively on land. The policy of the Bank was now to got rid of these properties, and the Directors were prepared to accept fair value for them. The Bank was not now advancing to any extent on country laud. Future advances would be made only within very safe limits. Lately the Bank had lost some profitable business in the south, which other Banks had readily taken.
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Taranaki Herald, Volume XLV, Issue 10699, 22 August 1896, Page 2
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170THE BANKING ENQUIRY. Taranaki Herald, Volume XLV, Issue 10699, 22 August 1896, Page 2
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