INTERCOLONIAL.

Otago Daily Times, Issue 10415, 18 July 1895, Page 2

INTERCOLONIAL.

Preos Association—By Telegraph—Copyright.

THE NEW SOUTH WALES ELECTIONS. ,' S*dney, July 17. Owing to the death of the wife or tsirH^nry Parkes the catnpaign. will be'-conducted by Slassrs Barccn and O'Connor until the end' of the week, when the veteran will take personal charge. . DEY WEATHER. \ ' Tho dry,weather U begiuning to assume a serious aspect throughout the country. Tbe rainfail. in Sydney has beoa 33 per cent, below the average. ' ! ADVANCES TO SETTLEE3. ■ Adelaide, July 16. - The State Advances Bill provides that I tbe Gorernmeat shall take over the business and funds of the Savings Bank. The present, trustees will be replaced by five created under the naw bi!l In placs of | half, as previously, thay will be allowed to i advance two-fiftho of the entire funds on i mortgage, and'another two-fifths on invested sscuiicies (guaranteed by the Government) of municipal bodies. , Tne, remaining fifth' will be retained in cash. The total aavances are not to exesed thres millions., Advances on the security of land are not to exceed half of the unimproved values. Special ! sanction will have to" be obtained for any loan i over LIOOO. The bill prohibits tha issne of ;■ notes,.by any private bank after March 18, 1896, when the Savings Bank will take cbarge of the issue of notes, which will ba a first charge on the revenue and Treasury • bills created under the act.