THE BANK OF N.Z.

Wairarapa Daily Times, Volume XVI, Issue 5124, 4 September 1895, Page 2

THE BANK OF N.Z.

THE BANK BILL.

THE TWO HOUSES DISAGREE,

By Tclcgmph.-Own Correspondent, Wellington, Tuesday. The Council have replied, insisting on their amendments to the Bank Bill.

They contend that as the Realisation Board is paid by the Bank, and not out of Colonial revonuo, they are strictly within their rights, and that the Directors of tho Bank, in purchasing other properties or Banks, are interested in making the tenbte beneficial to the Bank, and fIF approval of tho Governor in CouM

is suificiont to prevent an undesirable bargain. Further, that the discussion of terms by Parliament, would bo injurious, and that members of tho Legislature lire not good judges in such matters.

One of the rejected clauses affects Banks generally, and is out of place in the Bill, aud the other forbidding overdrafts is unworkable, and therefore unsatisfactory.

A Conference of members has been arranged.

THE RESULT OP THE CONFERENCE.

By Telegraph,—Brest Association. Wellington, Wednesday. The Conference of both Houses on the Bank Bill accepted the Council's amendmont, increasing the salaries of the Realisation Board to £ISOO, the question of privilege raised by ' tho House being waived, owing to tljto urgency of tho Bill. «P

Tho proviso in clauso 37 making amalgamation subject to tho veto of Parliament was restored.

TUo House agreed to the striking out ot clause s*l, which related to the land held by tlio Bank as mortgagee, but agreed to deal with tho questionin a separate Bill. Clause 56 prohibiting overdrafts > to officors was reinstated.

Tho Council adopted the report without much debate.

The House debate lasted until 2.30 a.m. when the report was agrood to by 34 to 11. .