A STATE BANK.
J AN ADVERSE REPORT. By Cable.—Press Association.—Copyright Adelaide, December 9. The report of the Select Committee of the Legislative Council on the working of the State Bank finds that the methods of working are neither in accord with tho spirit, intention, nor letter of the Act, and is open to the graverti censure. It rendered the Government's guarantee of the repayment of bonds a delusion and a snare. The eft'ett of the bank's action has: been practically to convert bonds from terminable securities to interminable annuities. The Teport recommends that the present method of issuing bonds should cease. The Government is making no further advances, pending Parliamentary consideration and a conference witli the bondholders, with a view to arriving at an amicable settlement.
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https://paperspast.natlib.govt.nz/newspapers/TDN19091210.2.25
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Taranaki Daily News, Volume LII, Issue 261, 10 December 1909, Page 2
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126A STATE BANK. Taranaki Daily News, Volume LII, Issue 261, 10 December 1909, Page 2
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