The Banking Business.
THE PROPOSED BILL. fFr<>m <>ur Spri-iitl < 'orrrxpouih'iit. j Wellington-, This day. Two points only will be dealt with in the Dank of New Zealand and Banking Act Amendment Bill—firstly, to give effect to a reorganisation scheme and alter the directorate ; and, secondly, to enable the Colonial Bank liquidators to give a cover for accounts that may be taken over in connection with the " B " list. Lobby gossip says that either Sir Embling, of Christchurch, or Mr Michie, of Dunedin, will be chairman of the board with the power of veto, with a preference for the first-named. Later. The Bill will, I learn on excellent authority, also make provision for a defect in last session's act regarding the payment of interest on stock for preference shares and will limit the salaries to be paid the directors of the Bank. Provision may also be made for compensation to Mr Watson.
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Bibliographic details
Hastings Standard, Issue 143, 12 October 1896, Page 2
Word Count
151The Banking Business. Hastings Standard, Issue 143, 12 October 1896, Page 2
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