forced to rescue Auckland's Bank of New Zealand in 1894 and again in 1895 from its undue investment in its property speculations. The real estate was liquidated under government control by a specially constituted Assets Realisation Board —the Board's work dragged on until the end of 1906. Next, in 1896, attempting to be rid of a difficult banking competitor, the Bank of New Zealand over-reached by acquiring control of Dunedin's troubled Colonial Bank of New Zealand but the Bank of New Zealand was obliged to let its undigested partly-owned Colonial Bank subsidiary collapse in 1898. MPs Joseph Ward and William Larnach were among those ruined, Ward was required to quit parliament in 1897 but later restored his financial circumstances. Larnach (the original lead promoter of Colonial Bank and long service director who had freshly displayed his personal confidence in Colonial by buying yet more shares) committed suicide in October 1898 in a parliamentary committee room. New directors were appointed in December 1898 under the Bank of New Zealand and Banking Amendment Act 1898. The Auckland Star reported from Wellington that "after prolonged consideration" the Cabinet had decided to appoint the following directors: J. R. Blair, mayor of Wellington, F. C. Malet of Christchurch, H. Beauchamp of Wellington and William Milne (1849–1942) of Oamaru a former Inspector of the Colonial Bank. Shareholders had previously elected William Watson (1846–1938) and Martin Kennedy both of Wellington to represent their interests. Chairman Beauchamp remained a director until 1936. He was chairman of directors from 1907 to 1911 and again from 1913 to 1922. He established relationships with bankers and distinguished authorities on finance in London and in New York and maintained them the rest of his life visiting in person every three or four years. Federation with Australia As a member of the 1901 Royal Commission on Federation he advised against New Zealand joining the Australian federation. he attended the Sixth Congress of Federation of Chambers of Commerce of the British Empire and was received by King Edward VII. Beauchamp was appointed a Knight Bachelor in the 1923 New Year Honours. In 1935, he was awarded the King George V Silver Jubilee Medal. In his later years, he travelled frequently between London and Wellington and his reports of the trading outlook for New Zealand's primary exports widely reported. Death and legacy Beauchamp died in Wellington, on 5 October 1938. He left substantial gifts to