BANKING AFFAIRS.

Otago Daily Times, Issue 10417, 20 July 1895, Page 4

BANKING AFFAIRS.

Press Aasociatioa—By Telegraph—Copyri^it. Mblbouene, July 19. While giving evidence before the Backing Commission, Mr H. G. Turner, maxsager of the Commercial Bank, said that the scheme put forward by the Banking Conference provided that in case of the call upon coin being unusually great the back coula go to the commissioners and obtain a percentage of notes oa approved Government security. This wonld prevent a bank's credit baiog injured though having to apply to others for temporary assistance, and lit would also avert crises. Tbe present note issus cost the Victoiian bauks L20;Q0O in note taz and LIO.OiX) in the expense of issue. The Government would lose by abolisbiag the note tax as they wpnld hava to keep a reserve in gold to meet ordiuary demands, and interest on the remaicder wonld not compensate for the ezpesee. It was calculated that* if the Government issued a miliioa in Treasury notes they would lose LII.OOO by the transaction. Ke, howevc-r, agreed with the Queeaslacd Treasurer that ths object of a Governmeat was not to make money, but to provide absolute sacurifcy.

BEI3BANE, July 19 At the half-yeai-ly nnseiisg of the Oaeaiiß -isad'Hadonal Back it was stated that the profit* wers L 11.400. A dividend of 3~r cent, was declared. At the half-reariT mast mg oi the Royal Banka ? ipar c^t. dLS

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