FEDERAL FINANCE
A DENIAL. (Australian Press Association.) LONDON, August 13. The Australian Press learns that the reports of /die Midland Bank offering to assist the New South Wales Savings Bank or Government arc absolutely without foundation. requirements of state. (Received this day at TO n.m.) MELBOURNE, August. 15. August requirements lor the Australian Governments totalling £3,960,000 were granted by the Commonwealth Bank Board. Mr Scullin announced the Loan Council decided that the budgets of at Governments must be pr rlucrd bd'ore the end of the month and they must shc-w that the Premiers’ Plan is being strictly adhered to. Sir Robert Gibson in a letter to the Loan Council pointed out it was impossible from information supplied, t--judge whether any Government h: cl completely earned out the Premiers’ Plan. It must be dist'ntly unde-stood by the Conference that the money i< granted only on the understanding that if when the complete budget figures are .supplied at the. end of the month it is 'found that any Government has overstated its., requirements, tile amount will ’be deducted., from future advances,
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Hokitika Guardian, 15 August 1931, Page 5
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179FEDERAL FINANCE Hokitika Guardian, 15 August 1931, Page 5
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