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Address by Mr Fisher at Melbourne Premiers Conference
Mr Fisher conveyed federal plans for a Commonwealth Bank in cooperation with the States. Each state would supply capital up to half and assume liabilities proportionally, sharing profits accordingly. The Commonwealth Bank would take over state savings banks as going concerns and provide three fourths of funds on first call, with three fourths of new deposits for investment. He noted no political influence on management and proposed a consultative body of federal and state representatives for the state bank portion.
MENTIONED IN THIS ARTICLE
BYMR
Fishor
Fisher
Melbourne
Commonwealth Ban
Savings
Commonwealth Bank
Wines
Savings Bank
Commonwealth
Wederal
Commonwealth Rent
Lonfon
Inmnds
Watt
Vic
States Bank