The Banking Enquiry.

Feilding Star, Volume XVIII, Issue 22, 25 July 1896, Page 2

The Banking Enquiry.

(Per Press Association.) Wellington, July 24, (Continuation of yesterday's report.) Mr McKenzie said they already had it in evidence that millions of money had been lost by the Bank of New Zealand before the Ward Association or Colonial Bank ever came on the scene, and surely these losees should first be inquired into. The Colonial Bank had nothing to do with the banking legislation of 1894. The paltry amount said to have been owing to the Colonial Bank by the Ward Association was nothing compared to the millions that had been lost previously, and yet Mr Hutchison would have the country believe that the troubles of the Bank of New Zealand were due to the default ot the Ward Association. Mr Hutchison protested that he had no personal feeling against Mr Ward. Mr Seddon said that Mr Hutchison's protestation was not borne out by his actions. At any rate he was attempting to blacken Mr Ward politically. He (Mr Seddon) wished to emphatically declare that he alone was totally responsible for that legislation and the lines it should go on, and he was not involved financially in any way. He desired this explanation to go throughout the Colony. After further discussion Mr Hutchison's proposed addition was refused by 7 to 8, viz, Hutchison, Montgomery, and Maslin. At 1.15 the committee adjourned till Tuesday, at 10.30 a.m., when Mr Booth's examination will be continued. '