The Union Bank's Report.
(Per Press Association.) London, July 11. The balance-sheet of the Union Bank of Australia shows a profit of j£50,561. The directors propose that a dividend of 5 per cent be paid, and that a sum of .£13,151 be carried forward. The deposits amounted to £17,612,716 against j£17,055,064 last year. The public securities and cash items are .£6,798,596 as against £5,224,034 last year. The advances on bills receivable and discounted are £15,326,090 against £15,669,067 for the previous year. In their report the directors ask that a quarter million sterling of reserve be transferred to the contingeut account, not for realised losses but as a result of the revaluation of the whole business.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 11, 13 July 1896, Page 2
Word Count
115The Union Bank's Report. Feilding Star, Volume XVIII, Issue 11, 13 July 1896, Page 2
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