The Banking Enquiry.
(Per Press Association) Wellington, This Day. Mr McCarthy, further examined by Mr Montgomery, stated it would be to the interest of the Bank to separate Watson and McKenzie from connection with its management. He did not think either was wanting in honesty or ability, but witness could not get away from the fact that someone was to blame for the state in which the Colonial Bank had been found. He considered the Bank of New Zealand should take over the accounts in the B list. If tbe persons whose accounts were in that list were called upon at short notice to clear their accounts, though they might be in an insolvent position, it might result in disaster to them. [This message is not clear.— Ed. F.S.I The Bank was now only making advances for the purposes of business and not for investment.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 63, 11 September 1896, Page 2
Word Count
145The Banking Enquiry. Feilding Star, Volume XVIII, Issue 63, 11 September 1896, Page 2
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