THE BANK OF AUSTRALASIA.

Taranaki Daily News, Volume XXXXV, Issue 99, 24 April 1903, Page 2

THE BANK OF AUSTRALASIA.

I ♦ London files, dated March the 21st, state that in tlr-ir annual rnport the 'directors of the Bank of Au.tralasia, dealing with the accounts for the halfyear to October 13, 1902, state that

after providing for. rebate on bills . current, for British and CoSorjial rates and razes, and for all bad and doubtful debts, the net profit for the half-year, including some recoveries from old ac- j counts, amounts to .£152,084. To this mus 1 ; be ndded tha sum b.ough'; forward from the previous half-year, miking a total of £166,750, out of which the directors have declared a dividend for the hulf-year at t>he rate of 11 p«r cent. per annum, or £2 4srsr share, free of income tax The dividend will absorb £BB,OOO, and lh( directors have further appropriate , £35,000 to the reserve fund, £14,000 in reduction of the cost of bank s s, and £15,141 to the bonus paid toi thd staff, as announced at the general meeting held last October. There will thou remain £14,648 to be carried f jrward to next account.