PARLIAMENT.

Stratford Evening Post, Volume XXXVII, Issue 63, 14 November 1913, Page 2

PARLIAMENT.

THURSDAY.. XCXTXIO* M. LEGISLATIVE CCUMSIL [Per Press Association.! Wellington, November 13. The Legislative Council met at 2.30. LOANS TO LOCAL BODIES. The Hon. W. H. 1). Bt'N moved that the Council go into committee on the Local Bodies’ Loans Bill and the State Advances' Bill.—The Bills were considered in committee and progress was reported till to-morrow. Hon W. H. D. Bell moved the second reading of the Temporary Employees Bill, giving improved status to certain persons employed in the public service. He stated that the Bill was asked for by the Public Service Commissioners.— A comprehensive amendment to the Public Service Act would be brought down next session. —The Bill was read a second time.

Hon J. D. Ormond brought up a report on the Stations Bill, which the Committee recommended bo not proceeded with in its present form this session.—The Council rose at 4.35 p.m. HOUSE OF REPRfcSENTATI VES. The House met at 2.30 p.m, THE LABOR TROUBLES. ' I: Mr Payne moved the first reading of, the State Control of Shipping and Farmers’ Protection Bill. Ho conAndod that the present was a fitting ciAle to. introduce such a measure, .v.'.ich would put an end to the dis:less and the holding up of commerce which existed at present owing to two parties mainly concerned in the ship ping business being unable to agree Jue Bill also provided for the setting jp of a “Board of Consideration,’ .■insisting of representative member: >! the whole community, to whom vuitld be submitted all difference wide., cold not be settled by the parties con jcnied. . Mr D. H. Guthrie moved the ad journment of the debate till Novem her. 27. •

Mr P. C. Webb objected to the ad dh’ iiment, contending that Parliamen

V ould have the courage to. face th ouiplex situation. iMr, A- H. Hindniarsh contended thn 'Hs.'tlie Government had not introduce; legislation the House should take the matter into its own hands. The adjournment was carried by 5, .votesido- leu ■ ( »;r.i ■■' , 1. : . : , : THE SPECIAL CONSTABLES. A. The Minister of "Defence <H'ori, J. ’Allen) read a letter from Colone 'Heard giving an, emphatic cont.igidictio: to the allegation, made by Mr j. Rob ertson that he (Colonel jHeard)'was |h uoaimand of. the special• cHntthlUeJ. j 1 Mb Hohtertson explained uhjit .Iliad WcmVed that had lea to (fis ( gnakinj the statement. He said that he hai i -if , , | been stopped by pickets on the wharf and 'while he was explaining lii.s posi. d m, Colonel-Heard had said in hh hearing that no one was allowed tc p; ss unless they had a pass signet that morning. Later, Commissions Cullen arrived, and, apologising, allow . pi’ooeedt!,H@ ; ported, round.ltMou'wMrves. by Colonel Russell, g' ■ S’evei-al other membeis protested; Amidst continued interruption,, against their. Treatment by special constables, Messrs. G. V. Pearce, J. Bollard and J.;. A. Espott- defended the special cor. stables.-. ■ ■ ■ C Sir Joseph Ward said be had bee in Parliament for twenty-six year; and he had never seen a more humiliat ing scene than he witnessed that af ternoon. Hon. J. Allen, replying, also regret ted .the incidents of the afternoon. H emphasised that Colonel Heard ha striven all along to keep the militar; out of the strike question. GENERAL. The Post and Telegraph Bill wa reported. . ■ » On the Society of Accountants’ Bill Mr G. Witty moved to delete a clans providing that the council of the so ciety may refuse to accept the resig nation of unhnancial. members.— The amendment was defeated by .‘ls votes to 17,—The Bill was reported. The Railway Authorisation Bill wir reported without amendments. The Post and Telegraph Bill, th Accountants’ Amendment Bill, and tin Railways Authorisation Bill were reac a third time. The House rose at 11.30 p.m. ■ THE BANK OF NEW ZEALAND. The House went into Committee on the Bank; of New Zealand Bill. .Mr J). Buddo moved, on clause 3, to limit the currency of increased stock to ten years, instead of to 20. Mr IT. G. Ell asked for the reason for making the term 20 years. He thought it was there to prevent the Bqnk’s affairs being discussed in the House for 20 years. The Hon. J. Allen said he . could not accept the amendment. The proposal came from the directors, and was in the direction of ensuring stable and sure finance. The Bank could he discussed every year on the balancesheet, which was laid before the House. The amendment was lost on the voices.

On tlio clause providing for new capital to tlio extent of £3,000,000, Mr J. A. Millar moved to reduce the amount to £2,000,000. He said the proposal «as the biggest watering scheme he had ever heard of. He would not agree to the Bank having a capital of practically £6.500,000. when that amount was not required for the Bank’s business.

Mr Allen explained that if the amendment were carried the Governipegj; proportion of one to two would he upset. Sir Joseph Ward said it seemed to him that the more shares issued

to shareholders in future the less likelihood there would be of the Government’s proportion of interest being maintained. He thought that £.3,000,000 of extra capital was too much, and if there was to he a reduction, t.he proportion of one to two should be maintained.

Mr Allen said that what was proposed was to call up about £1,000,000 next year. There were a great many shareholders who wanted to pay off the Government’s £1,000,000 guarantee. He was of the same opinion, but if all agreed that the £1,000,000 should be paid, off—-and the Government got no benefit out of it—the Bank must have that £1,000,000 on hand. Therefore, he said, the £3 t--000,000 extra capital stand. Mr Ell said it was ridiculous to suggest that the, proposed capital was necessary. ,1 ■ M

Mr Millar said that under Jus ■ proposal the shareholders. would hold 300,000 shares against 225,000 .of: the Crown’s. Compared with the banks of Great Britain, the Bank of New Zealand carried very much more capital, bearing in mind the proportion of trade. The House divided on Mr Millar’s amendment, which was lost, 22 voting for it and 44 against. Mr Millar then moved to bring all the shares.up to an equal value.

The Minister said he could not accept the amendment,. holding that if it were carried it would ideas that the Bank would have to call up all its capital on existing!shares.'*. *■• The amendment* was, defeated by 42 votes to 23. e u.i

At clause 12., Mr ttj MeCallum mov'd an amendment to the limit of holding by afiy one shareholder ! to four thousand.

The amendment was defeated by 82 votes to 19.

Mr j. Craig moved a hew clause providing for two per cent, interest )n current accounts. He explained ' hat the Bank of New Zealand had ] 114,000,000 of money on which it was saying no interest as was done in

cany of the Homo Banks. Mr F raser said he could not accept the amendment, as it would bring deposits to the Bank that it could not tse, and would do the Bank more harm than good. The amendment was defeated by 42 ote.s to 3t Mr D. Buddo moved to redyce the nnual charge for keeping accounts Tom 10s to 2s (id. This waif lost by ’O'votes to 19.. !, i j,. The Bill was reported witlV amendaents- ■ !