THE COLONIAL BANK.

Star (Christchurch), Issue 6126, 12 March 1898, Page 6

THE COLONIAL BANK.

[Pkb Pbess Association.] DUNEDIN, March ll. In Chambers, to-day, tbe matter of the liquidation of the Colonial Bank came before Mr Justice Williams in the form of a summons for liberty for Mr Keith Ramsay, who is about toleaveior England, to resign, and for the continuance of Messrs Vigers and Simpson as liquidators, and for the settlement of their remuneration. Mr Hosking appeared for tha solicitors of the official liquidators. The affidavits filed showed that all the accounts in the B list had been closed ; that there is j about £21,000 to pay on the C list, to meet which it is expected tbat sufficient will be recovered from the liquidation of the Ward Association; that there are from £5000 to £6000 worth of assets to be realised out of the D list, and some other small assets which may take time to get in; that there are a few matters to be adjusted with the Bank of New Zealand, and that until the final disposal of the actions brought by Messrs Brooks and Co. and Connell and Co., the liquidation cannot be closed. There is now in hand a sum of £20,804 b a t no division Can be made till the cases h&ve been settled . The remuneration of the liquidators up to Feb. 28, 1896, had been: — Messrs Larnach and Vigers £250 each, Mr K. Ramsay £200. For the first six months afterwards, each liquidator had been authorised to retain £700 and for the future £75 per month. The work having diminished since October, Messrs Simpson and Ramsay had voluntarily reduced their drawings to £50 each per month. An order was made that Mr Ramsay was at liberty to resign, the Registrar to inquire and report on the services rendered by the liquidators and the time occupied, and Mr, W. Barron to represent the contributories at the inquiry. ,