BANK OF NEW SOUTH WALES

Taranaki Daily News, Volume L, Issue 59, 30 May 1907, Page 3

BANK OF NEW SOUTH WALES

HALF-YEARLY MEETING. ( Keceived 30th, 12.44 a.m. Sydney, May 29. At the half-yearly meeting of the Bank of New South Wales, the net profits, after making all provisions, amounted to £141,582. This, with the undivided balance last half-year, gave £IG!),000 for distribution. A dividend was declared at the rate of 10 per cent., k'IZ.000 placed to the reserve, £15,000 to the Buckland fund, and £29,314 carried forward. . The chairman reported satisfactory business during the half-year, and explained the Buckland fund, established by the late Thomas Buckland. a former president of the Bank, who gave £ISOO to meet exceptional cases for relief, outBide the scope of the Officers' Provident Fund. The directors considered the present opportune time to make a grant to the fund, which would enable it to further supplement the retiring allowances of aged and infirm officers. The report was adopted. At a special meeting held subsequently, it was agreed to increase the bank's capital from two millions to two and a half millions by the issue of 25,000 new .£2O shares.