WELLINGTON SAVINGS BANK.

New Zealand Spectator and Cook's Strait Guardian, Volume V, Issue 366, 3 February 1849, Page 3

WELLINGTON SAVINGS BANK.

The following correspondence connected with the recent proceedings relating to this Institution has been forwarded to us for publication. Having so fully discussed the subject in our preceding numbers, we shall only further observe, that the refusal of the Trustees to call a meeting of Managers, however extraordinary it may appear to an impartial person, is a fit termination to these factious proceedings. In speaking this decision, however, we must absolve Mr. Petre and Mr. St. Hill (two of the Trustees) from having any share. in this business, the responsibility of this step we believe entirely rests with the othef four Trustees, namely, Messrs. M'Donald, Featherston, Fox, .and Fitzherbert, — three of whom voted against the amendment. The Secretary, in his letter, informs the Manageis that the rules of the Bank prescribe that the Superintending Committee shall be compelled to call a general meeting whenever required to do so by a requisition in writing signed by five Managers. A requisition signed by twentythree Managers is presented to the Trustees (the only portion of the Committee legally constituted) and they refuse to call a meeting.. After such a proceeding we can hardly doubt that Mr. Hickson's example will be generally followed, and an Institution, founded for the benefit of the working classes, will fall a sacrifice to the factious violence of those who are determined to drag their political differences into private life : — Savings Bank Office, Wellington, 2nd February, 184=9.

Gentlemen, — Acknowledging the receipt on the 26th ult. of the requisition "which you did me the honor to address to me, I beg to call your attention to the following circumstances relating thereto, in which I trust will be found my apology for the apparent delay in my answer. One of the rules of the Bank prescribes " that the Superintending Committee shall have pdwer to call General Meetings of Managers, and -shall be compelled to call such General Meetings whenever they shall be required to do so by requisition in writing signed five Managers." As fiom the above cited rule it appears that the power to call General Meetings is vested in the Superintending Committee, I should — under any ordinary circumstances — have called them, .together to consider' any requisition I might have received, but as your requisition impeached their election, and consequently denied the legality of their existence, I felt -that that course would not be proper in the present instance. T therefore, as a preliminary step, addressed a circular to the Trustees of the Bank on the 29th ult., stating that the requisition (copy of which I annexed) had "been received, and asking them as ex-officio members of the Superintending' Committee, to express their pleasure thereon. Again 1 " on the 31st ult., I addressed them by circular, calling a meeting of Trustees for Thursday (yesterday) the Ist inst., at 1 o'clock, in Mr. Allen's Commercial Booms, which meeting was accordingly held, and under its direction it becomes my duty to.inform you— " That the Trustees, after carefully examining the report of the meeting as entered in the Secretary's book, and making enquiry into all the circumstances of the adjourned meeting of Managers, held at ( Barrett's Hotel on the 20th ult., are of opinion that that meeting did not separate without proceeding to the election of a Superintending Committee, but thai the Committee whose names are recorded in that book were duly elected, and, .that the Secretary be requested to communicate this decision to the requisitionists, and to publish the same in the local newspapers." This decision having been arrived at, it follows as a matter of course, that the meeting you require cannot be called, first, because it is unnecetsary, as a Superintending Committee has been already elected for the current year, and secondly, because as the election of that' Committee is thus confirmed, they only have the power to carry such a requisition into effect, .I have the honor to remain, gentlemen, Your most obedient servant, J. Woodward, Hon. Sec,, Wellington Savings Bank. William Hickson, Esq., J.P., M.L.C., md the Managers of, £he Jjavings Bank, sighing the requisition, .V 7, , , it