STATE BANK.
SOUTH AUSTRALIAN INSTITUTION. ADVEESJD REPORT. (By Telejraph.—Press Atßociatlon.-Oopyrlebt) ' Adelaide, December 9. The report of the Select Committee of tho Legislative Council on the working of tho State Bank findb that the methods of working are neither in accord with tho spirit, intention, or letter of tho Act, and aro open to tho gravest censure. These methods, the report adds, have rendered the Government's guarantee of repayment of bonds a delusion and a snare, and tho cifect of the bank's action has been practicallj to conceit tho bonds from toruiinable sccmities to interminable annuities. Tho report recommends that tho present method of issuing bonds should cease. . Tho Government is making no further pd\ances pending Parliamentary consideration, and a conference with tho bondholders with a uew to arriving at an amicable settlement.
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https://paperspast.natlib.govt.nz/newspapers/DOM19091210.2.30
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Dominion, Volume 3, Issue 686, 10 December 1909, Page 7
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132STATE BANK. Dominion, Volume 3, Issue 686, 10 December 1909, Page 7
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