RURAL BANK IN N.S.W.

Press, Volume LXXXIII, Issue 25365, 12 December 1947, Page 7

RURAL BANK IN N.S.W.

BILL TO AUTHORISE GENERAL TRADING MOVE SEEN AS COUNTER TO FEDERAL ACT (Rec. 7 p.m.) SYDNEY, Dec. 11. The New South Wales Legislative Assembly passed the Rural Bank Bill through all its stages last night, and it will go to the Legislative Council as soon as possible. The bill authorises the Rural Bank to conduct general banking business, and places it on the same footing as other trading banks. State-owned banks are especially omitted from the Federal bank na-. tionalisation legislation. Opposition followers consider the appearance of the Rural Bank Bill af proof that even States with Labour Governments are not prepared to see the entire banking business of the community in the hands of the Commonwealth Bank. The New South Wales Parliamentary Opposition supported the bill “in hopes that in this bill the Government is making a belated attempt to preserve the real sovereignty of this State, a* one of the constituent States in the Federation of Australia.”

SMALL PLANES FLY ROUND WORLD PIPER CUBS ARRIVE AT U.S. AIRPORT NEW YORK, December 10. George Truman and Clifford Evans landed their 100 horse-power Piper Cub aeroplanes at Peterboro airport. New Jersey, to-day. completing in 122 days 23 hours their flight round the world in the smallest aeroplanes ever to attempt the trip. < They circled the world on a 23,000 mile route, with stops in 21 countries The Cubs have a cruising speed of slightly more than 100 miles an hour.