A.P.A. DIVIDEND
Mr. E. S. Paul, chairman at the annual meeting of the Australian Provincial Assurance Association, Ltd., Sydney, said that he regretted that the dividend was only Ixk per cent., due to the increased reserves required for payment of income tax during the coming year. Moreover, the association, in conjunction with every financial institution, was still subject to the possible disintegration by the spectre of note inflation, and it was regrettable that no definite statement had been issued by Mr. Scullin in support of Mr. Lyons' promises of no note inflation. There could be no prospect of a return to prosperity until confidence had been restored. In view of the moratorium in New South Wales and the prospect of note inflation, the board had suspended all loans on mortgages. •
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Evening Post, Volume CX, Issue 154, 29 December 1930, Page 12
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130A.P.A. DIVIDEND Evening Post, Volume CX, Issue 154, 29 December 1930, Page 12
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