THE BANKING INQUIRY.

Star (Christchurch), Issue 5664, 8 September 1896, Page 3

THE BANKING INQUIRY.

•■^ TO-DAY'S PEOCEEDINGS. • [Pek Press Association.! WELLINGTON, Sept. 8.. The Banking Committee resumed at eleven o'clock. The re-examination of Mr Watson by Mr Hutchison was resumed. The \vitnes3 declined to state what proceedings lie referred to when he said that if a certain offer had been accepted it would have been better for the shareholders of the Colonial Bank. Ho was asked several questions relating to certain remarks made by Mr Justice Williams in his decision in the Ward Association case, but declined to answer on the plea that if he did so he would be disclosing private business. Witness said ho concurred with the statement made by the Hon G. M'Lean at the meeting of Colonial Bank shareholders held in January, 1896, to the effect that it was better not to disclose the real position of the bank, but to allow it to be purchased by another bank, when the shareholders instead of having to pay a call would receive something from tho purchasing bank. His reason for so concurrririg was that if a call had been made the value of the shares would have fallen to less than the value of the call. The witness declined to answer several questions relating to Government remittances given to the Colonial Bank. The Auckland Agriciiltural Company had not taken over any properties from the bank that he knew of; it probably relieved the bank of some accounts. ' Re-examined by Mr Maslin: Witness stated that reference to the balance-sheets of companies had been permitted by the Chairman. Witness did not think that the fact that Mr Murray, the manager of the.Auckland branch of the Bank of New Zealand; held office under an Anglo-Con-tinental syndicate was likely to do the bank any harm. To the Minister of Lands : Witness declined to say if there had been any advances made on the property at Wanganui known as Rogues' Castle. To the Premier : He had no knowledge of Messrs Horton and Johnston going to England in 1893, but would ascertain what particulars of the bank's business they Cook with them. The Committee adjourned till to-morrow.