COLONIAL BANK.

Gisborne Times, Volume XVII, Issue 1404, 15 March 1905, Page 2

COLONIAL BANK.

JIKStTIJSIiCSAiTICMSE OB .SIR JOSEPH AVA'RD,

i<Per Pressi Association.) I DUNEDIN, last night. Ini the Supreme .Court Mr Fraser applied for directions on behalf of ,the liquidator of .the Colonial Dank, as to the uppaid balances of dividei/cla in tiro liquidator’s hands.. J.u'clge Williams directed that the moneys bo paid to the Public Trustee.

I Mr ' W-. ;C. Macgregor thereupon ' I mado a statement as to Sir J oseph 1 .Ward’s connection .with the matter • I When in 1896 application was made 1 to sanction the proposed sale of the Ward Farmers’. Associatijonj’s asI Sets, and His Honor made certain I observations based on the material then before him,, in which Sir J.' I Ward was closely identified'with the Association.; Oo was not directly I then before the Court. The report now presented showed that the AsI soeiation, though the assets w«re I realised under the disadvantage of compulsory liquidation, had paid a large dividend on its debts, and it I was certain if the Association had I continued instead of being forced in|to liquidation it would have paid all its creditors in full. Mr Macgregor added that since tho Association had been wound up Sir Joseph had himself, although not I personally, liable, paid in full the balance owing to all creditors of the Association except the Bank.. The Judge remarked that ho was very, glad, to accept the statement of counsel.;