BANK OF N S.W.

Taranaki Daily News, Volume LII, Issue 247, 24 November 1909, Page 2

BANK OF N S.W.

A PROFITABLE HALF-YKAR. By Cable—Press Association—Copyright Received 24. 12.11) n.m Sydney, .November 23. At the half-yearly rre ting of tne Bank of New South Wi'-s the net profit for the half-year was shown sit £182,302. A dividend nl the rate of 10 per cent, was declared, CiO.oOO added t» the reserve, and 1 45,704 carried forward. The president stated that the d>as a whole had increased in the year by nearly 0)00,000. Hills payable and other liabilities showed the large increase of £600,000. On the assets, side, coin increased by over CfiflO.OO 1 ). and money on short call in Londoi by €1,000,000. Business generally had been favorable during the past winter, 'intl the outlook would be quite satisfactory were it not clouded by the strike. The president announced that the board Sad decided to recommend to increase The capital to three million sterling, share!* to he issued at a premium of £5 per share, payment to be spread ovej; twelve months. The business had expanded considerably in the past three years and he thought it wise to look somewhat ahead, and not wait till the actual growth of figures compolled them to move. The premium would be applied to strengthen the reservs.