BANK OF NEW SOUTH WALES.

Dominion, Volume 3, Issue 672, 24 November 1909, Page 7

BANK OF NEW SOUTH WALES.

HALF-YEARLY MEETING. IMPORTANT ANNOUNCEMENT. (By Telcjraph.-Prcsß Association-OoDyrleht) (Eec. November 24, 0.10 a.m.) Sydney, November 23. Tho ; half-yearly meeting of; tho Bank of Now South Wales was held to-day. Tho net profit for tho half-year was ard a dividend at the rate of ten per cent, was declared, .£50,000 being added to reserve 'and' .£45,704 carried forward.

:'■ The president stated . that the',, deposits as a wholo 4 had increased in. the year by : nearly I '.£900,000.:' Bills payable' andyothsr, liabilities showed tho large, increase of. ,£600,000. On the assets'side, coin increased by and money on short call in London by .£1,090,000; Business generally had been favourable duriug the. past winter, and the .outlook would be quite satisfactory were 'it not. clouded^.by the strike.'. ':./;:. '. ■'■'■}■■ ■■,'-...' •■■.'" -'/"'j " : ';';' : ■-.' ■'.';.;■. .. The president announced; that '■. tile' board, had decided to recommend an increase'of; capital ; to..three.million, sterling, sharesiito bo issued. at a premium of .£s.a. share,;and;payment to; ,bq spread, over twelve months,;.; .Business .had oxpanded considerably in tho past three years, and he,thought it'wise, to, look somewhat ahead ■and not waittill the .actual growth.of.figures compelled-them'to move. .The'premium, would be applied, to strengthen the reserve. \"i...