The Banking Enquiry.

Feilding Star, Volume XVIII, Issue 43, 19 August 1896, Page 2

The Banking Enquiry.

(Per Press Association) Wellington, August 18. Towards the close of this morning's sittings of the House Banking Commit, tee, Mr Geo. Hutchison asked Mr Watson whether J. G. Ward's banking account was overdrawn at the time of the Colonial Bank's balance-sheet of 31st August, 1892. Mr Watson declined to answer the question. The Premier rose to a point of order, contending that the question was outside tbe order of reference; also, he contended, it would lay all the accounts in the Colonial Bank open to grave question. Mr Hutchison pointed out tbat it was a matter affecting the qualifications of Mr Watson for the position he held. The chairman ruled the question in order. Mr Watson said that if the question had reference to a £4,000, he had the permission of those concerned to state particulars. Mr Hutchißon again asked the question. The witness said Mr Ward's account was overdrawn at that time. Continuing, he explained tbat be had Mr Ward's permission to make clear the matter. He did not wish it to be thought be was doing tbis without Mr Ward's consent. Mr Watson here read several letters, and said tbat as tbe terms used in tbem might not bo familiar to some members of the Committee, he would explain the £4000 transaction. There were oats sold by Mr Ward to C. W. Mullins, of Timaru. Tbey bad told the manager of the Bank that the amount paid would be in before Monday night to rednce Mr Ward's account to the limit to which it \ was probably allowed to go. The cheque for the oats did not arrive frem Mullins, and consequently a demand draft for the cost of the oats was put through by Mr Ward, to Mullins, at Timaru. In tbe Invercargill office, before the letter went away, the cheque was received and the draft was taken out of tbe letter, which was then allowed to be posted. The ' schedule whioh contained the draft, however, was not in tha hurry taken out of the letter, but was allowed to go oe to Timaru, but the draft did not come. When it was brought under bis notice he communicated with Invercargill, and the reply came stating that the obeque had now been received. This was the whole of the transaction. After further heated discussion, * tbe Committee adjourned till 11 a.m. tomorrow. Notice was given to call William Evans and C. N. Macintosh, of Timar a, to give evidence in connection with the above transaction.