The Banking Enquiry.
(Per Press Association.) Wellington, September 23. The Banking Committee resumed at 11 o'clock. Mr Butt, Auditor of tbe Bank of New Zealand (re called), stated that the estimate that i- 300,000 contingency fund would be sufficient to meet possible losses, required to be modified as from jecently received reports and estimates it was possible an additional sum of from £40,000 to .£50,000 would need to be provided. Walter Johnston, Director of the Bank of New Zealand, was examined, his evidence being chiefly confirmatory te that of the previous witnesses. Tho Banking Committee resumed at 10.80. The Hem Geo. McLeaz*, M.L.C was examined. Ho advised Government to again place outhe Statute Book the|Bank Note Issue Act as a precautionary measure. Tho Banking Legislation had killed the Colonial Bank, and if remedial legislation was not introduced it would react to the disadvantage of thu Bank of Now Zealand. Witness confirmed the evidence of other witnesses as to there having been no jwritings off in connection with the Ward Association or Ward's private account.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 74, 24 September 1896, Page 2
Word Count
174The Banking Enquiry. Feilding Star, Volume XVIII, Issue 74, 24 September 1896, Page 2
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