BANK OF NEW SOUTH WALES.
TEN PER CENT, DIVIDEND, By telegraph—Press AssociationCopyright. SYDNEY, May 23.
At the half-yearly meeting of the Bank of New South Wales it was shown that the prolits after making all necessary provisions, were £115,500, which, with an undivided balance from last hall-year, left £127,000 for distribution. It was recommended that a dividend of ten per cent, per annum he laid ; that £15,000 be added to the reserve fund, and £12,000 brought forward.
The Chairman, in a speech, referred to the highly satisfactory nature of the operations. The amount of advances on drought-stricken areas was very small compared with the general tnisiness. As far as the bank was ..concerned, it viewed the situation without apprehension for all probable contingencies. The New Zealand business was sucli as to necessitate the opening of branches at Stratford and J almerston. The report .was adopted.
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Bibliographic details
Gisborne Times, Volume VII, Issue 424, 24 May 1902, Page 2
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145BANK OF NEW SOUTH WALES. Gisborne Times, Volume VII, Issue 424, 24 May 1902, Page 2
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