and the contained leads. In such cases the younger leads outcrop 

 on the cafion sides and they may thus be won by levels driven in 

 on the hill sides. 



Examples. — Tangil, Haddon, Nintingbool, Daylesford, Ballarafc 

 (Vic); Gulgong, Forbes, Forest Reefs, some of the Emmaville 

 and Inverell Leads (N.S.W.); Darling Downs and North Queens- 

 land (Qld). 



Age.— The Older Volcanics may be Miocene or even Eocene, 

 and the You i! t_'" i Vnk-anie- Pliocene in age. 



The RESPECTIVE LIMITS of FEDERAL and STATE 



LEGISLATION in REGARD to COMPANIES. 



By A. Duckworth, f.r.e.s. 



[Read before the Royal Society of V. S. Wales, July 6, 1910.] 



The report of the Royal Commission on Insurance, recently 

 presented to the Commonwealth Government, contains the 

 results of an exhaustive inquiry by the two Commissioners 

 appointed, into the conditions governing the business prac- 

 tice of life assurance offices in Australia and Tasmania. Its 

 recommendations do not, of course, extend to New Zealand, 

 so that whatever law might be passed in Australia, the 

 Dominion would not be bound by it, and divergences in 

 legislation will doubtless continue to exist. It may be 

 pointed out with some degree of satisfaction that the 

 Commissioners have not in the course of their inquiries 

 brought to light any such abuses as those unearthed by the 

 New York committee of inquiry regarding life offices in the 

 United States in 1906. It is gratifying also that tiie Com- 



