13 Feb 1957
Page 1
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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Feb 13, 1957
Page
1
Private banks propose a new control system based on a deposits percentage with emergency authority, aiming to balance Central and Trading Bank powers. The Canberra talks with government officials closed with cautious optimism, noting possible legislation and a lengthy draft process.
Australian bankers led by D Williamson call for a true Central Bank separated from trading, plus a statutory reserve deposits system. They argue reforms would prevent nationalisation risks while preserving the current trading ban and ensure clear, manageable banking controls.
The Mirage 03 jet delta reportedly reached 1,143 mph, one and a half times the speed of sound, surpassing the prior 1,132 mph world record set by a Delta fighter. Built at Marcel Dassault works, the Mirage 03 is a fighter aircraft.
UN debates possible sanctions on Israel as Hammarskjöld reports stagnation in withdrawal from Gaza and Egypt. Dulles cautions Israel against ironclad guarantees while Egypt seeks assurances to halt attacks and blockades. Britain notes assurances on British shipping and ports as international officials weigh next steps.
Italian labourer Santino Silvestrini was trapped as a 9 ft trench near the Australian National University collapsed yesterday. He was dug out and taken partway to hospital by car as Canberra and Queanbeyan officials sought his address and details of the incident.
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