STATE SAVINGS BANK
LANG DISAPPOINTED
TERMS FOR REOPENING
(lleeeived Sth July, 10 ajn.)
SYDNEY, This Day.
The "Daily Telegraph" says that the reasons for Mr. Lang's sudden disinterest in ,the reopening of the Government Sayings Bank have been, unofficially' revealed. It is stated that tho terms upon which tho Commonwealth would reopen the bank were submitted to Mr. Lang with tho following conditions for his acceptance: (1) That he rejoin, the LoaJi Council. (2) That money owed to the Commonwealth by the State be repaid. ■ ■■■■■' (3) That money held on short call by the Government from the Savings Bank be repaid. In addition to, .these terms, it is believed that tho Commonwealth imposed drastic conditions that would operate subsequently as to the payment of depositors. - ' Mr. Lang's proposition was that the Commonwealth should give him., the money to reopen the bank now. The Savings Bank Commissioner is in Melbourne carryirig on. negotiations. ■ In the . meantime the depositors aro patiently waiting for their own money.
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Bibliographic details
Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 10
Word Count
164STATE SAVINGS BANK Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 10
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