HOUSE OF REPRESENTATIVES.

Feilding Star, Volume XVIII, Issue 1, 1 July 1896, Page 2

HOUSE OF REPRESENTATIVES.

In the House to day the Banking Committee was made the first business, when Mr Cadman moved the amendment agreed to in the clause as follows : — That Standing Order No, 211 be suspended, and that a Select Committee of eleven members be appointed to examine and report upon the following matters : — (1) The affairs of the Bank of New Zealand, the Bank of New Zealand Estates Company (Limited), the Auckland Agricultural Company (Limited), and the Colonial Bank of New Zealand, in eo far as the same relate to the banking legislation of 1893, 18J94 and 1895, with special reference to all the circumstances leading up to that legislation, or which have since transpired, the fullness and accuracy of the information then disclosed by the directors, officers, and agents of - those institutions, and their conduct and fitness. (2) To ascertain what amounts have been written off since the first day of January. 1888, and what led to such writing off , and to deal with all such other matters as the Committee deems necessary or expedient in the premises : Provided that, the Committee shall not be empowered to enquire into the ordinary business of persons or companies doing business with the Bank of New Zealand; excepting so far as relates to such writing-off and what led to same, (3) The appointment of the President and General Manager of the Bank of New Zealand, and their connection with the Colonial Bank. > (4) Any negotiations which, may at any time have taken place between the Colonial Bank and the Bank, of New Zealand and the Ministry, or any member thereof, with a view to amalgamation or purchase. __,-- --(5) The purchase of the Colonial Bank by the Bank of New Zealand, with special reference to — (a) The position of the Colonial Bank at the time of the first proposal for amalgamation or purchase, and subsequently, (b) Tbe ac curacy or otherwise of the representations made to the Bank of New Zea-* land, the Government, or any member thereof, with reference to such amalgamation or purchase, (c) ;The amount paid for goodwill, bow it was arrived at, and the correctness or otherwise of the estimate. (6) The information tosching the premises in position of the Government at the time of the Banking legislation of 1893, 1894 and 1895, and since thai time. The Committee to have power to call for persons and papers, and to confer with any similar Committee appointed by the Legislative Council and tc report within twenty-one days. A long discussion ensued. ; ; In the first test division the Ministry carried the day tjjy 89 to 20. Mr G. J. Smith then mojed a further amendment, limiting the lnvesttfotiona to 1893, 1894, 1895, on which a discussion is still (9.30) proceeding. The following is the division list on Mr G. W. Russell's amendment :-4 Ayes, 30— Allen, Buchanan, Collins, Crowther, Duthie, Earnshaw, Baser, Green, J. W. Kelly, Lewis, ( Mflssey, Montgomery, Newman, Pirani, C| Wi Russell, W. R. Russell, G. J. Smith, Stout, Te Ao. Noes, 39— Buddo, Buick, Caclinan, Carncross, Carnell, Duncan, Flatman, Graham, Guinness, Hall, Hall-Jones, Harris, Hogg, Houston, W. Hutchison, Joyce, W. Kelly, Larnarch, La\»ry, Mackintosh, Maslin, McGowan. J. McKenzie, R. McKenzie, McLachlan, Me* Nob, Meredith, Millar, Mills, Morrison, O'Regan, Parata, Seddon, Stevens, Steward, Tanner, R. Thompson,^ T. Thompson, Willis. ■ '$? Fairs (for the amendment)— T. McKenzie, Heke, McGuire, Wilson, Bell, - Against the amendment — Ward, Fere? E. M. Smith, Carroll, Pinkerton. . ! The first clause of Mr Cadraan's amendment to the Premier's motion Iras] agreed to on the voices. Second clause; amendment (directing the committee to ascertain what amounts bad 'been writ-* ten off since January, 1888, and what led to such writing off) was carjtied by 33 to 28. The remaining clauses of Mr Cadman's amendment were carried on the voices, the only alteration being in Clause 3 to which an addition was made extending the scope of the enquiry, into' tbe appointment of the President and the General Manager of the Bank ef New Zealand to make it include their connection with any of the constituents of the Colonial Bank or with the bank' ing legislation of 1893, 1894, and 1805. v Mr Seddoa intimated that Messrs Houston, Lang and Collins wished to withdraw from the committee and their names were struck off. Captain Russell an! -Mr Cadman also withdrew from the committee. Mr Seddon then stated the names of those who would remain on the committee were : J. McKenzie, Graham, Montgomery, McGowan, and the mover. He gave notice to move the names of Messrs G. Hutchison, Tanner, Maslin, Guinness, and Steward be added to the committee. Mr Hutchison gave notice to move the proceedings of tbe committee be open to the press. Mr Seddon gave notice to introdnee a' Legislative Council Act Amendment Bill. The House rose at 1.