STATE BANK MERGER.

New Zealand Herald, Volume LXVIII, Issue 20962, 27 August 1931, Page 11

STATE BANK MERGER.

WESTERN AUSTRALIAN PLAN. OPERATION NEARLY COMPLETE. (Received August 2fi. 7.155 p.m.) MELBOURNE. August '2G. [ ! Tlie Premier of Western Australia, Sir | James Mitchell, is conferring with the | board of the Commonwealth Bank with a j view to the Commonwealth Bank's taking j over the Stale Savings Bank of Western j Australia. The proposed merger is almost com- j pleted. The authorities emphasise that j the merger is not due to the bank s liav- j injr experienced any difficulties with the j State Government. It is merely proceed- j ing with the present as pait of its j economy policy. The latest balance-sheet o£ the State j Savings Bank shows that th© deposits were £8,500,000. Its gross earnings in 1930 were £391,480 and its profits £16,500. SAVINGS BANK BILL. AMENDMENTS IN ASSEMBLY. MEASURE BEFORE COUNCIL. SYDNEY, August -26. The bill providing for the reopening of the Government Savings Bank was passed through the Legislative Assembly and read a first time in the Upper House. The Premier, Mr. J. T. Lang, read a letter from the Chief Justice asking that the Judges be relieved from the difficult and invidious duty of appointing trustees. The Premier then obtained permission to amend the Bill to- provide for the appointment of the five trustees. The House also agreed to delete the sections of the bill giving preference to certain classes of depositors. COUNCIL REJECTS BILL. t j ECHO OF RAILWAY STRIKE. | ! RESTORATION' OF RIGHTS. SYDNEY. August i The Legislative Council has rejected | the Railways and Tramways Staff Adj justment Bill, which sought I seniority rights to those railway emi plovees who took part in the strike of | 1917. ' CONVERSION LOAN. GREAT SUCCESS ASSURED. SYDNEY, August 2G. The executive of the national appeal announces that the conversion loan has now advanced to a stage which ensures its wonderful success. The total conver- | a ions are now £312,000,000 of the | £556,000,000 required.