BANK OF COMMERCE
EFFECT OF THE" LAND TAX. By Cable—Press Association—Copyright. Received 25, 11.5 p.m. Sydney, July 25. At the annual meeting of the Australian Bank of Commerce it was shown that the net profits for the year were £14,957, to which is added the undivided profit, £3540, making £18,504 available for distribution. A dividend 0f222y 2 per cent, was declared, absorbing £14,550. A balance of £3954 was carried forward. The business increased by £505,053. Fixed peposits and current accounts increased by £454,758. Gold stocks and other securities increased by £238,000. The chairman stated that the land tax was having a more severe effect that he had anticipated. The Federal notes tax had not had a very material effect.
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Taranaki Daily News, Volume LIV, Issue 27, 26 July 1911, Page 5
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119BANK OF COMMERCE Taranaki Daily News, Volume LIV, Issue 27, 26 July 1911, Page 5
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