Capital.
Un Colonial
Register,
SIB,
£
Australasian Mortgage and Agency Company, Limited
1,500,000
Australian and New Zealand Mortgage Company,
Limited.
1,000,000
Australian Mortgage Land and Finance Company,
2,500,000
Limited.
Bank of New Zealand
1,000,000
Bank of South Australia, Limited
800,000
British and Australasian Trust and Loan Company,
Limited.
2,000,000
Dalgety and Company, Limited
4,000,000
1,150,000
Emigrant and Colonists Aid Corporation, Limited
250,000
English, Scottish, and Australian Chartered Bank
1,000,000
London Chartered Bank of Australia
1,000,000
Manitoba Mortgage and Investment Company, Limited National Bank of New Zealand, Limited
500,000
1,900,000
National Mortgage and Agency Company of New Zea-
land, Limited.
1,000,000
New Oriental Bank Corporation, Limited
New South Wales Mortgage, Loan, and Agency Com-
pany, Limited.
2,000,000
1,000,000
New Zealand Loan and Mercantile Agency Company,
Limited.
3,500,000
125,000
New Zealand Thames Valley Land Company, Limited New Zealand Trust and Loan Company, Limited Otago and Southland Investment Company, Limited Queensland Investment and Land Mortgage Company,
Limited.
Robert Campbell and Sons, Limited
500,000
1,500,000
1,000,000
2,000,000
600,000
Scottish Australian Investment Company, Limited
1,000,000
Scottish Australian Mining Company, Limited
200,000
Shaw, Savill, and Albion Company, Limited
South Australian Land, Mortgage, and Agency Com-
pany, Limited.
700,000
2,000,000
Standard Bank of South Africa, Limited
4,000,000
The New Zealand Land Mortgage Company, Limited
2,000,000
979,300
Trust and Agency Company of Australasia, Limited Union Bank of Australia, Limited
1,250,000
4,500,000
325,000
The Bank of Africa
1,000,000
The Colonial Investment and Agency Company of New
Zealand, Limited.
1,000,000
The Colonial Real Property Company, Limited
100,000
The New Zealand and Australian Land Company,
Limited.
2,250,000
The Scottish and New Zealand Investment Company,
Limited.
The Scottish Queensland Mortgage Company, Limited The Australasian Investment Company, Limited
750,000
500,000
1,000,000
49
No. 21.
COMPANIES (COLONIAL REGISTERS) ACT, 1883.
Clay Cross, near Chesterfield April 16, 1887.
I SEE by the newspaper report that one of the subjects for discussion on the 14th instant was, "the hardship of requiring the wills of colonists, who die holding "shares upon the Colonial register of a British company, to be proved in England, "although the deccased may have no other interest in the United Kingdom," and I venture to suggest that there should be also considered, the hardship of requiring the wills of persons living in the United Kingdom, who die holding shares upon the London register of a Colonial company, to be proved in the Colony, and in support of this I give you my experience in this matter.
In August, 1885, I became an executor under the will of a deceased friend, who held shares in five Colonial banks, viz. :-
The National Bank of New Zealand.
The Union Bank of Australia.
The Bank of Australasia.
The London Chartered Bank of Australia.
The Bank of Victoria.
The will was duly proved in the English court, and probate duty paid upon the whole of the personal estate. The probate was registered at the various banks, and no intima- tion given at any of them that anything further was necessary to be done before selling the shares, which we at once proceeded to do. There was no difficulty in transferring the shares at the four banks first named, but on applying for transfers at the bank of Victoria in London, our broker was informed that "before we could deal with the shares the will must be proved in the Colony." This we proceeded to do, and in November 1885 our solicitor forwarded to Melbourne "office copy" of will and other papers, with power of attorney to the manager of the bank of Victoria, in order to obtain probate there.
In February, 1886, we were informed that an "exemplified copy of will was required, "and that the executors must swear the affidavits before a Victoria Commissioner in London;" this we at once proceeded to do, and the papers were duly forwarded to Melbourne. They were again returned to England, with the information that "a new judge who had been appointed in Melbourne had decided that the Victoria Commis- sioner in London, before whom we had sworn the affidavits, must make a statutory "declaration to that effect." Eventually, in November 1886, we received the Colonial
露着
probate, but at what cost the following account shows. The ret value of the shares was 1,4427. 10s. :—
Colonial probate duty
Colonial solicitors' charges
Premium to Victoria Insurance Company, as required by
Colonial court
Bank of Victoria, for agency
Home solicitor's charges and expenses
-
Executor's expenses
Son
2001
4ão
peg
402
0000
£
5. d.
-
20 0
40 15
37 10
10
-
29 0
2
5 5
-
35 6 6
-
177 17 0
52,800,000 2,579,300
Loss in buying back shares, which were sold, but could
not be delivered
Total
or leaving out the loss in buying back the shares, an expenditure of 1221. 10s. 6d. is incurred in order to pay a duty of 201. I submit that this is a state of things which calls for immediate remedy, and that facilities ought to be provided for doing all this business in the county where the testator is domiciled.
Sir Henry Holland,
Colonial Office, London.
Yours respectfully, (Signed) GEORGE HOWE.
▲ 51431
G
PUBLIC RECORD OFFICE
Reference :-
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-
COPYRIGHT PHOTOGRAPH—NOT TO
C.O. 885/5 PUBLIC RECORD OFFICE, LONDON
No comments yet.
Private notes are available after approval.