The Benefit Society Commission.

Feilding Star, Volume XVIII, Issue 294, 18 June 1897, Page 2

The Benefit Society Commission.

(Per Press Association.) Wellington, June 17. At the Private Benefit Societies Commission, evidence was dven concerning the societies in existence in connection with the Banks of Australasia, New Zealand, New South Wales and the Union Bank, which appeared to be viewed favorably by the officers. William Call ender, assistant inspector, who, with the general manager and Mr Bntt, form the trustees, admitted that the basis of the fund must be reorganised as pensions were already cat down from the basis of 80 to 45 per cent. He feared they would hare to be farther reduced, and there was widespread dissatisfaction especially among the juniors, and a provisional poll taken was largely in favor of the aboli. tion of the food, but the Trustees could not do this without an Act of Parliament. He should say the majority of officers would hail such an Act gladly, and did not consider the rule« enabled the Trnstees to act unfairly if they chose, but provision certainly ought to be made for the representation of officers on the Board. He had already suggested this.' - With respect to Mr Butt, that gentleman, on rejoining the Bank, retained the membership f and under a rale specially provided, but on further qnestioning it appeared this rule was only made in 1894, and the Commissioners suggested it wa9 added by the trustees simply to meet Mr Butt's case. Witness said it was made before he became a trustee. There was no doubt the financial basis of the fund wonld have to be altered and that promptly. He was only awaiting the arrival of the general manager pre vious to taking action. The fand was kept entirely separate from the Bank. The Royal Commission enquiring into the working of private benefit societies intend to secure a list of pensioners under the Bank of New Zealand Benefit Society with a view to publishing it. The Commission will probably close its sittings here to-morrow, and meet in Auckland on Monday, 28th Jane.