The Banking Enquiry.

Feilding Star, Volume XVIII, Issue 32, 6 August 1896, Page 2

The Banking Enquiry.

L Per Press >\ ssoei -itionT Wellington, August 4. The Banking Committee of the House resumed its sittings this morning. Mr J. C. Banna, of Auckland, wrote asking that his evidence might be taken at the earliest convenience, as he desired to return to his business, and Mr W. Booth -wrote asking that his examination might be suspended till next week, as he had urgent business to attend to in the country. A letter received by McK**nzie suggested that Mr O'Hara Smith, of the Audit Department, should give his evidence this week: as he was m verj bad health and was leaving for Australia on Saturday. It was decided that Mr W. G. Foster be asked to attend next meeting of the Committee and produce the documents Mentioned in bis subpoena so that the same might be printed. Mr Seddon moved that counsel attending on behalf of witnesses be allowed to address the Committee upon objections to any questions put to the Committee, but that counsel be not allowed to speak on any one question more than 10 minutes. After considerable discussion the motion was lost by 5 to 6. Mr Guinness moved that the Committee report to the House recommending that the press be excluded from the Committee. He said the publicity given to the proceedings of the Committee was having an injurious eflect to the Bank's business, and the presence of press representatives had also a tendency to lengthen the the proceedings. Mr McKenzie moved that Mr Guinness' motion stand over till to-morrow in order to give members an opportunity of considering it. He did not think the inquiry should be a secret one. Mr Seddon did not think the Committee's investigations should be secret, but if the press were going to give partial reports of the proceedings, such as had been cabled to Australia, they would have to consider the question of excluding them. Mr McKenzie's amendment was carried by 7 to 2. Mr Me Go wan has given notice to move, That from the evidence disclosed in the balance-sheets from 1888 till 1894, showing the average writings off from customers' accounts of £114,870 per annum and the payment of dividends during that period not earned by the Bank, and if we include the writing off for 1895 the average for these eight years will total nearly £300,000 per annum, this Committee baa come to the conclusion that it is against the interests of the Bank of New Zealand, and indirectly injurious to the colony to continue this enquiry. On the Premier's motion the Com* mittee then procededed to deliberate, and on resuming in an hour the Chairman announced that Mr Booth would be required to continue his evidence on Friday morning. After further discussion on matters of detail the Committee adjourned till 10.30 on Friday. In the course of his examination be* fore the Banking Committee, Mr Booth gave some interesting figures relating to the legal expenses, totalling £2167, of of the Banking legislation from 1889 to 1891. P. Buckley, Stafford and Treadwell, received £359, and in 1895 £57. 1889 to 1891 Messrs Bell, Gully, and Izard £253, and Button £297. In 1893 to 1896 Buddie, Button, and Co. £504. In 1895 Eenyon and Hoskirig, Dunedin, £632, and John Murray paid £52 for legal services. John Murray received £500 for " services rendered in 1894 and £531 for expenses incurred ;" besides £25 in 1895 for expenses of coming to Wellington at the Directors request. The detailed list of writings off shows tbe total from 1889 to 1896 was £3,095,799. New Zealand showing £1,184,697. Australia £606,990, Fiji £15,671, London £3,999, not specified £1,234,442.