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State Bank.

  • (1) Amalgamation of existing Savings Banks into a State Bank; a portion of the funds to be available for—
    • (a) Repurchase of private estates for Closer Settlement.
    • (b) Advances to settlers on the land held by them or the improvements thereon.
    • (c) Conditional advances to be granted for the purpose of effecting permanent improvements; such advances to be made in instalments as required during the progress of the work at the rate of £75 for each £100 worth of permanent improvements effected.
    • (d) Advances to workmen and others to build homes themselves.
  • (2) All charges in connection with loans made by the Advance Department of the Savings Bank to be added to the amount advanced and be paid off with the loan.

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