THE LANG PLAN
INSURANCE GUARANTIEES
COMPANIES AND CASH
SYDNEY, 3rd May. The Lang Government's new .plan to compel insurance companies to loidge cash guarantees also is causing the utmost concern, following so closely ugon the Savings Bank debacle. The companies are offering no objection to the general principle of lodging securities as a safeguard again;.* fraud by mushroom companies, but declare that there is something, sinister in the proposal that hard cash should be provided for the Government instead of Government bonds. The holdings of life insurance companies in New South Wales bonds amount to £7,427,000.
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Bibliographic details
Evening Post, Volume CXI, Issue 103, 4 May 1931, Page 9
Word Count
96THE LANG PLAN Evening Post, Volume CXI, Issue 103, 4 May 1931, Page 9
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