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1902. NEW ZEALAND.

THE HAMILTON CLAIMS COMMITTEE (REPORT OF), TOGETHER WITH THE MINUTES OF EVIDENCE AND APPENDIX. (Mr. R. McKENZIE, Chairman.)

Report brought up Ist October, 1902, and ordered to be printed.

ORDERS OF REFERENCE. Extracts from the Journals of the House of Representatives. Wednesday, the 10th Day of September, 1902. Ordered "That a Select Committee be appointed to investigate the claims of Captain Hamilton against the Bank of New Zealand and the State, the Committee to consist of Mr. A. L. D. Fraser, Mr. Hall, Mr. Hemes, Mr. Hornsby, Mr. Massey, Mr. R. McKenzie, Mr. Pirani, Hon. Sir J. G. Ward, and the mover ; four to be a quorum : the Committee to have power to call for persons and papers."—(Mr. O'Meaea.) Wednesday, the 10th Day of Septembeb, 1902. Ordered, "That the petition of John Drummond and others (No. 431) be referred to the Hamilton Claims Committee."—(Mr. O'Mbaea.)

EEPOET.

I am directed to report that, the petitions having been presented very late in the session, the time at. the disposal of the Committee was entirely inadequate to take evidence and consider the important matters involved in the petitions, but that, after hearing the evidence of Mr. W. G. Foster, who appeared on behalf of the Bank of New Zealand and the Assets Eealisation Board, and of Captain G. D. Hamilton, on whose behalf the petitions were presented, and also after examining some documentary evidence, the Committee is of opinion that there is a reasonable case for investigation, and consequently recommends that the allegations contained in the petitions should be fully investigated next session. Ist October, 1902, R- McKenzie, Chairman.

PETITIONS.

PETITION No. 391. To the Hon. the Speaker and Members of the House of Eepresentatives in Parliament assembled. This the humble Petition of the inhabitants of Dannevirke and surrounding districts showeth that: — 1. In the year 1889 Captain G. D. Hamilton, the then owner of the Mangatoro Estate, owed the Bank of New Zealand the sum of £60,000, secured by mortgage over the estate, which was valued by the bank at £180,000, a valuation which has since been increased. 2. In the same year the bank called up the advance, and on default being made put the property up to auction, after very short notice of sale, with the condition, inter alia, that the purchaser should pay cash within one month. The result of these proceedings was that no purchaser could be found on these terms, and the bank bought in for £5,000. 3. The bank, having thus become the owner of a property valued at £180,000, to satisfy a claim of £60,000, declined to release Captain Hamilton from his liability. 4. After holding the property for a few years (during which time the bank expended nothing on the estate beyond the income derived therefrom) the bank sold to the New Zealand Government a little more than one-half of the area of the same, without the stock, for the sum of £90,000 or thereabouts, which amounts to about £30,000 more than Captain Hamilton owed the bank at the time when the property was sold.

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