The Banking Enquiry.

Feilding Star, Volume XVIII, Issue 67, 16 September 1896, Page 2

The Banking Enquiry.

FORECAST OF THE COUNCIL'S REPORT. The report of the Legislative Council's Banking Committee will be presented tomorrow (Wednesday). It is surmised that Mr John Murray will be taken to task for not disclosing the true position of the Estates Company when urging the Government to bring in amended legislation in 1895, and that Ministers will get a rap over the knuckles for not insisting on a full disclosure of the Bank's position before asking for a two million guarantee. Stress is certain to be laid on Mr Butt's holding an agreement by which the Bank of New Zealand are to rsinstate him in the position he held before acceptingthe Government Anditorship in the event of his losing the latter office, and the committee may be expected to recommend the immediate collection of this arrangement, the object of which was to preserve Butt's claims on the Bank's pension fund. As to the famous oats transaction, the committee are sure to find that no warrants existed for 80,000 bags given to the Colonial Bank's Inspector by the manager of the Ward Farmers' Association. Mr Ward's position in the report will probably be in the direction of expressing regret that as soon as he discovered his financial position he did not resign his office as Treasurer, particularly as bis relationship to the Colonial Bank made it impolitic that he should bo a party to franking the legislation introduced by the Government, at the same time it may be surmised that both Mr Ward and the Government will be acquitted of the suggestion of any corrupt act in connection with the banking legislation. As to the future of the Bank of New Zealand, additional representation on the part of the colony on the board of directors m sure to be advocated. It is thought that the bringing down of the Council's report will shorten the inquiries of the House committee.