THE BANKING INQUIRY.

Waikato Argus, Volume I, Issue 33, 24 September 1896, Page 2

THE BANKING INQUIRY.

(i;Y TIiUiUU.YVU OWN UOltllliSrONhKNT.) Wklunutos, Last Night. The Dunking Coinmit'ee resumed at 11 a. 111, The Chairman intimated tlr.t he ha'l received a letter from Mr.Jolm Murray, covering answers to the questions submitted. Tlie examination of Hon. \V. ]). Stewart was resumed. To Mr M isliu witness .stated that the K ink ol New Zealand was debiting cover given to the Colonial 13 ink in re poet of certain accounts taken over, with interest on advances in connection with tlie.se accounts. Mr Butt, the- auditor of the Bank of New Zealand recalled stated that the report-, of c.s'iinutes had been received since he had given his evidcr.ee before the Committee respecting a certain account in the Bank of New Zealand which necessitated a modification of liis statement that £'200,090 world be sullieieiit as a contingency fund to meet the possible losses. If these recently received estimates were borne out a further sum of IMO.OOO to £50,000 would have to he provided. Tip's lo s bad been ascertained by a more expert valuation of accounts, of which the directors Iml not previous 1 }' been informed. Mr Walter Johnston, director of the Bank of New Zealand, was examined at considerable length. Witness c.xj re->el ,iii|t\se at the evidence of Hoi. Mr Su:waii respecting the treatment ol accounts in the var'ous lists of the Colonial Bank. The whole policy _ respecting tho>a acjounts was dclrnnineil by the liquidators ami not by t e Bank of Nov Z'aland. The management it' tlio Bunk of Ne'.V Zealaii'l w,:s now in witness's opinion of a sallslactory ch-.v-aeter. lie did not think there was lU iy likelihood of tin: colony losing a penny of tin; in.mey advanced for the assistance of the Built. The Committee adjourned.