Assets Realisation Board.

Feilding Star, Volume XVII, Issue 242, 17 April 1896, Page 2

Assets Realisation Board.

Mr W. Fraser, M.H. R., addressing his constituents at Cromwell, is reported by tho Dunstan Times to have spoken iv support of the Assets Realisation Board, of which he was a member, eulogising the action of the Board throughout. Of course there were many transactions which he was not at liberty to explain, as secrecy had to be maintained. The Bank of New Zealand has re-started free from nny bad debts, and was now in a position such as no other Bank in the colonies could boast of, so far as strength was concerned. He was also very pleased to find that the House did not not wish to see a State Bank established as a result of these transactions. He then dealt with and explained the Schroeder debentures of £150,000 at 5 per cent, as well as the Auckland Agricultural Co's debentures of £"259,000, and commended the Bank's efforts to wipe off tha Schroeder debentures. He expressed his firm conviction that the colony would never be called upon to pay any part of the i 2,500,000 it had pledged itself to. He further explained the future dealings of the Assets Board and the Bank, relative to the payments each had to make towards the other, and blamed such of the public as were adversely criticising the business and crying " stinking fish."