The Banking Enquiry.
(Per Press Association.) Welukgton, This Day. The Banking Committee met at 11 this morning. The examination of Mr Watson was resumed. The witness handed a statement prepared by the accountant of the Bank of New Zealand showing a percentage of the coat of 1 management of the Bank. Its gross earnings prior to the almagamajtiqn was 73*54 and since the amalgamation was 58-2. Under examination by the Hon. Mr McKenzie witness said the legal business in connection with the banking legislation could not have been done; cheaper. The chief cause of the Bank's troubles was ad vaucing money on land. : The policy of the Bank was now to got; rid of these properties and the directors had prepared a fair value for them. The Bank was not now advancing to any extent on country lands, and future ad vanoes will *be male only within very safe Unfits. L%tely/tbe. bank Jiad lost i gome profitable business In the South, 1 which the other banks had readily 'taken.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 45, 21 August 1896, Page 2
Word Count
169The Banking Enquiry. Feilding Star, Volume XVIII, Issue 45, 21 August 1896, Page 2
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