BANK OF NEW SOUTH WALES

Taranaki Daily News, Volume LIII, Issue 38, 25 May 1910, Page 5

BANK OF NEW SOUTH WALES

ANNUAL MEETING. REFERENCES TO NEW ZEALAND. By Cable—Press Association—Copyright Received May 24, 9.15 p.m. Sydney, May 24. The half-yearly meeting of the Bank of New South Wales was held to-day. The net profits for the half year were shown at £83,938, which, with the undivided balance from the last half year, gave a total of £229,043 for distribution. A dividend at the rate of 10 per cent, was declared, the sum of £40,000 added to the reserve, £SOOO to the Officers' Provident Fund, and £49,643 was carried forward. The chairman stated that the past year had been a good one for the Australasian export trade, which had shown great activity, but the import trade had not shown any undue expansion. It, however, kept pace with the requirements. In New Zealand, the tendency to inflation, to which reference had been made last year, had been checked, and the position so much improved that it gave no cause for anxiety. The Dominion was prosperous, and the Bank's business had been conducted on reasonably conservative lines.