BANK OF NEW SOUTH WALES.

Taranaki Daily News, Volume LVII, Issue 318, 18 June 1915, Page 3

BANK OF NEW SOUTH WALES.

HALF-YEARLY MEETING. The report presented to the half-year-ly meeting of the Bank of New .Sonth Wales, held in Sydney on May 28, states that the deposits showed an increase of £2,000,000, a considerable portion of of which was Government money. Coin cash balances and other bank notes are £472,00(1 less, but Australian notes are £3,318,000 more, an enlarged currency being thereby secured. Government securities were £1,000,000 higher. A reasonable extent of support had bc»n given to the Imperial war loan. Owing to a defliciency in the wheat crop and consequently the absence of export the bills receivable in London were less by

£150,000. Exchange operations bad been well maintained. The aggregate of the most liquid class of assets was £25,872,000 as against £24,215,004 in March 1014, and £21,770 in September 1014. Advances were £1)00,000 high nthan in March. 1014, but considerably lower than in September, owing to trade being more restricted than in normal times. A steady conservative (policy was being pursued with regard, to accommodation. The opinion was expressed that final issue of the war would be favourable. It had affected Australia much less than might have been expected, most of the wool having been realised at fair prices, and other products similarly dealt with. The volume of trade, both inward and outward, had shrunk to a considerable extent, but the future was regarded with confidence, though a policy of restraint was necessary. Reference was made to losses consequent on the thought, but pros - pects had improved. The New Zealand business had been well maintained and was free from troubles. It was stated that quite 1000 of the Rank's staff had gone to the war, and their places had been kept open, thereby imposing additional work on the men who were left behind. Contributions had been made to the various war funds, and augmentations would probably follow.