THE BANKING COMMITTEE.

Star (Christchurch), Issue 5691, 9 October 1896, Page 3

THE BANKING COMMITTEE.

» NATURE OF THE REPORT. 7 [Fkom Our Correspondent^ / # WELLINGTON, Oct. 9. i » With the view of inspiring confidence ii 2 the Bank of New Zealand," the Banking 2 Committee of the House -will recommem | the reorganisation of the management. I [0 suggests that the office of president shoul< 9 be abolished, and that a new genera 7 manager should be appointed; that th< directors should be increased to eight, oi which three are to be appointed by th< [t shareholders, three by the Governor-in 18 Counoil, and one by each branch of tht Legislature; the Chairman to have the power of veto, and to be selected by the Governor-in-Council. The Committee will further recommend that, as far as possible, the Bank of New Zealand shall confine ifa business to the colony, except for the purpose of exchange. The report will be pre,f sented.to the House this afternoon, c A member of the House, who is usually well informed on such matters, informs me » that, in all probability^ the report of the c House Banking Committee will not be p debated at any length, as members are anxious to get away. s Respecting the liquidation of the Coloi nial Bank, lam given to understand that c the Banking Committee after considerable discussion, and on the casting vote of the c chairman, decided to report ths,t it has no 'a recommendation to make as to altering the k present process. Mr Hutchison, at the Banking Corner mittee, brought up a report which dealt with private accounts, and was, therefore, b ruled out of order. He intends publishing t it.