AUSTRALIA.

Lyttelton Times, Volume C, Issue 11724, 31 October 1898, Page 5

AUSTRALIA.

United Press Association—By Electric Telegraph—Copyright. OLD AGE PENSIONS. SYDNEY, Oct. 29. The “ Daily Telegraph,” commenting on the New' Zealand Old Age Pensions Bill, says that special interest attaches to the scheme, as a legislative exploration which may prove educative, cither negatively or affirmatively, to the world. It is questionable whether the pension provided for is sufficient to adequately assist the aged poor. In other respects it will be interesting to observe the operation of this simple scheme, which aims at settling the question offhand by paying pensions and charging the State with the whole expense. THE REV T. S. PORSAITH. SYDNEY, Oct. 30. Though gradually weakening, the Rev T. S. Forsyth, owing to his great vitality, may linger some time. BANK INQUIRY. BRISBANE, Oct. 29. At the trial of bank directors, Mr Pritchard, formerly general accountant, gave evidence that in 1888 there was an issue of new shares, of which 26,194 were placed to a trust account in the names of the directors, and were operated upon by certain of them under Mr Drury’s instructions. No cash was paid on account of those shares.