BANK OF NEW SOUTH WALES.
HALF-YEARLY MEETING
(By C3&le.—Press Association.—Copyright.)
(Received May 26th, 8,55 p.m.)
SYDNEY, May 26
At the half-yearly meeting of the Bank of .New South Wales, the report, which was adopted, showed that tho not profits wero £275,746, to which a balance of £68,658 had to be added, making a total available for distribution of £344,405. A dividend at the rato of 10 por cent, per annum was declared, absorbing £87,500*. It was decided to add £100,000 to the reserve fund, and to carry forward £60,405.
The president said tho circulation had been reduced by £22,000, due to the retirement of £16,000 worth of ojd Australian issue, and a slight contraction in the New Zealand issueDeposits showed an increase of £2,185,000; there was also some increase in fixed deposits. Tho coin bullion and cash balance showed an increase of nearly £2,000,000. A favourable season had enabled many borrowing clients ;to reduce their debts, and the money had been used for exchange business. Loans and advances were well spread throughout Australasia.
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Press, Volume L, Issue 14978, 27 May 1914, Page 9
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173BANK OF NEW SOUTH WALES. Press, Volume L, Issue 14978, 27 May 1914, Page 9
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