INTERCOLONIAL.

Otago Daily Times, Issue 9300, 16 December 1891, Page 2

INTERCOLONIAL.

[By El.KlTl-K- ThIKUKAI'H. CoPYIIIfIUT.] (I'lru PiiKss Association.)

A FAMILY ARRANGEMENT

Micuioi-Hxi-:, December 15. (Received December 1.3, at noon.)

Investigations held into lho affairs of the Land Credit Bank, one of the institutions which recently suspended payment, disclose the fact lhat Taylor (the manager), his wifo, and sun were overdrawn in their accounts to the extent of Lll+,ooo, wbile tbe securities are estimated at 1.11,000. Mrs Taylor's bill for L 43.000 i.s held, but its value" is uncertain. Shareholders „1' the bank reipiiiv to pay calls amounting from LZ5,000 to L.5,000 to meet the liabilities. VICTORIAN POLITICS. The Government will endeavour to bring the session to a close this week. The Commonwealth Bill will probably be included iv the list of measure, which arc to bq dvoj'ycd,

The Colonial Treasurer will obtain power to issue Treasury bills to the amount of L2OOO (?L200,000)in London, this step being taken as a precaution in tho event of inability to place the first instalment of the Rix million loan. STANDARD BUILDING SOCIETY. (Received December Ifi, at 1.10 a.m.) The Standard Building Society has called a meeting of depositors. The statement presented showed assets equal to 35s for every pound of liabilities. The present action of the directors was not due to pressure, but merely to give satisfaction to the clients of the society. The management suggested that deposits should be renewed for three years. NEAV SOUTH AVALES POLITICS. Sydney, December 15. (Received December 15, at 11.40 a.m.) ■Several members of the Labour party have called a meeting to consider the advisableness of forming a party to promote democratic and and labour legislation. The Compulsory Early Closing Bill has passed through committee in tho Legislative Assembly. It provides that shopkeepers shall close at 6 o'clock on five days of the week, and 10 o'clock on Saturdays.. It compels them to provide their employes with sitting accommodation, and to allow them an hour for each meal, and prohibits the employment of lads under 14 years of age and girls under 15 if they havo not passed the fifth standard. ! (Received December 10, at 1.10 a.m.) The financial debate is proceeding. AN AMALGAMATION. Tlie Newcastle and Hunter River Shipping Companies amalgamate at the beginning of the year. This step is due to the competition of the railways.