TELEGRAMS.

Horowhenua Chronicle, 27 June 1913, Page 2

TELEGRAMS.

Fruit ritKSH ahsocuiion ] I HANK OF MOW ZIOALAXD. L. WELLINGTON, .lime 20. :i At the niimiai meeting of the ■!• Hank of New Zealand to-day, .Mi t Martin Kennedy, in seconding the i] adoption of the cliiiirniiin's report (p'f forma). expressed regret tlint .tlu< Chairman would not afford ■ x in opportunity for discussion on the > proposal to increase the capital then ~ and suggested that tin; meeting be .idjoii/ned till next day. in order • thai mi opportunity be. given to go • 'ullv into the matter. : The Chairman stated that the ■ meeting was called for the specific purpose of the adoption of the annual i rc.psjrt and balance-sheet. I Mr C. V, .Skerrett. in a vigorous - speech, strongly i-esented the Clnair- - man's action in practically reducing > shareholders to men. , ciphers. The discussion between the Chairman a/ml .Mr Skerrett was very an- . i inn ted. Kinally, the report and halance--1 sheet having been .adopted., the nieel- • ing resolved: ••That the chairman . leave the chair." This .Mr BeauI champ did. A remark from Mr Martin Kennedy as to treatment of shareholders by the chairman, considering thai they had voted him L'o(K) for travelling expenses on a recent visit to Kngland. ji heated retort from M.r Heauchamp that lie was not to he influenced, bought or bribed by €■")()() or €5001). aild be left the room. -Mr Kennedy was then voted to the. chair, and the .shareholdor.s resolved to meet to-morrow afternoon. THK DKI'EXCK ACT. June 20. It lijus recently been reported that the Government intended to introduce an amendment to the Defence Act this session to place the military scheme on a more generous scale. The subject wa.s mentioned to-day to tlie Hon. .lames Allen (Minister of Defence), who replied that no amendment to the Defence Act was contemplated this session. Ho would not say there would not lie further amendments to the Act as time went oh. and experience showed them to be necessary. H e had to bear in mind the whole organisation of the scheme, which was still largely in ,an experimental singe, and no doiiht the "Pod might iii-is;.. for further legislation as time went on, hut so far~as he knew there Mould he none this ■session.