He entered into them with a desire to keep the business. He had felt the pressure of business almost from the first. He felt it from the time that he saw he had been misled 1.) ■; the bank and ind need to give £ 11,000 for two rotten propel ties. He drew £(j a week out of tlie business. The Bank knew of that ; he had told them how economically he was living. lie had used wheat held ou warrant without consulting the Bank. The warrants were not regarded as of any value at all. In manv cases they were not lifted after the money had been paid. The Colonial Bank had a bunch of these old warrants stowed away even to this d iv. On one occasion Mr Ewing asked, him for warrants, and witness told him at the lime that part of the stulf was king i's.o,l and part had been used and sold. He had. often told the manager of the Colonial Bank that the warrants were useless, as the wheat would per haps bo used the day after a war rant was given. In the letter produced he had given the Colonial Bank an assur ance not to sell or transfer to stock without consent. All the Colon!ii*s wheat had been naid for. Tii.it showed the truth of what im inn; said, that these warrants were not at.vivr lifted and weic treated as mere mat ters of form. To Mr MacGregor: Witness held 500 allies in the Odomcd Bank, bought since he v.vnt into business. The Bank would not hoar of hi? slopping business when he told them of his position, lie was also a share h ,ldcr iu the Bank of New Zealand, and took pvt iu its meetings at the request of .Mr Watson. He also took an active part in the liquidation of the Colonial, getting pivxics fur the directors’ nominees. .Mr Mat Gregor: You have been asked about jfUmi.tg'/iu sleeks. Did any of it go | ui M r Wairmi or Mr Ewing Wdm ; - : I do not want to damage any j Gilt 1 - I 11 ; s Honor thought that if witness could ! or the question ho ought to do so. 