DIFFICULT YEAR
(Prcss. Assn. —
BANK PRESIDENT REVIEWS PRESENT AUSTRALIAN CONDITION3.
■By Telegrp.ph — Ccry uglit).
LONDON, Tuesday. Mr. Edmund Parker, presiding at the annual meeting of the Union Bank of Australia, said the bank had had a year of exceptional difficulty and anxiety, in which it was impossible to conduct banking normally, or, in view of political events to form a sound appreciation of the course of events. Alterations of the exchanges in the middle of the axporting season had e'nforced a reduction of interest charges which without an immediate corresponding reduction in interest allowances had unfavourably afxected profits. During recent months the appreciable improvement of the political situation in Australia had re-acted favourably upon the economic and financial position of the country.
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Rotorua Morning Post, Volume 2, Issue 285, 27 July 1932, Page 5
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122DIFFICULT YEAR Rotorua Morning Post, Volume 2, Issue 285, 27 July 1932, Page 5
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