THE ONION HANK OF AUSTRALIA
The report and balance sheet of the Union Bank of Australia are to band. As usual the figures of this ferablo institution are solid and Hncing and betray a thorough soundness, which is an element of safety to the colonies. In these days of banking crises, it is a pleasure ' to peruse the balance sheet of a j strong and sound Bank, The liquid i and imramediately available resources of the Union Bank amount to 7s 6d in tho £, and while this denotes inordinate strength it means small dividends for the shareholders. The Rcsem Fund amounts to £1,000,000, half of which is invested in gilt-edged securities and the other half beiug employed in the Bank's business as it is invested in bank premises, Usually resetve funds of joint stock companies are merely book entries there being nothing to Bhow for the sum set apart as a reserve, The Bank has £1,397,040 invested in Consols and other highclass securities. The Uniou Bank was established in 1837, and was registered as limited May Ist, 1880, The paid-up capital amounts to £1,500,000. The dividend for tho thirteen half-years ending August, 1880, was 1G per cent. jkv annum; to February and August, flfcl, 14 per cent.; to February and August, 1882, 16 percent.; to February and August, 1883,18 per cent.; for the four half-years to August, 1885, 1G per cent.; to February and August, 1886, 14 per cent.; for the four half-years to August, 1888, 12 per cent.; for the six half-years to August, 1891, 14 per cent.; for the three half-years to February, 1893, 12 per cent.; to August, 1893,8 per cent.; to February, 1894, 6 por cent, Tho last dividend was at tbo rate of 5 per cent,, a fashionable rate with the sound institutions. W.F.C.A. Tho report and balance sheet of this company do not need any special attention. The Company is strong, and the shareholders are awaro of the fact. Tho reserve fund stands at £4,588, but there is nothing in the balance-sheet to show how this is invested. It does not 6peak well for tho shareholders when tho annual mooting was attended by only two outside of the Board, and although the Chairman accepted the position as a testimony of the confidence of &Woholders in the management, it mpfc be confessed their gratitudo for work well done is very little, It is the great enrse of joint stock companies that shareholders will not take an intelligent interest iu the affairs of their companies; so long as dividends are paid and matters appear to be going on smoothly, the shareholders never trouble themselves, but when trouble arises and the report and balance-sheet are unsatisfactory, then we get foil meetings and lively proceedings. Mr Caselberg must have been in a humourous mood when he said that "the shareholders were evidently shrewd and sensible men." They might be, but it would have been business-like if they had turned up at the meeting and asked a few questions or made some suggestions to benefit the Company, and even failing this, their attendance was desirable if only to show that they appreciated tho efforts of Directors. Only two sharehflkrs of the W.F.O.A, were foolish enoflgh to attend the annual meeting, the" shrewd and sensible" were not there. Till! COLONIAL HAKE. The half yearly balance-sheet Laa been prepared, and the profit is slightly less than £13,000. Nothing, howeveiv is to be done pending the negotiations with the Bank of New Zealand. It will bo remembered ihatio t!»Bank Bill, the profit to
bo made by the Bank of Now Zer land by absorbing tlio Colonial fiau >• was Bet down at £30,000. How fa this is likely to bo realised is show by the profit given above. Th f Colonial Bank Ims made a profit o i £13,000 for the half year, or £2OOI short of the amount estimated by th 3 Select Oommitteo ua likely to be th s gain to tlio Bank of New Zealand s There will be a tendency as the year t roll on, for this shortage to incroase ) and the Bank of New Zealand wil ) not make the estimated profit bj , many thousands of pounds, ' STOCKS. I Colonial Government stocks shon , very little variation,and with monej ! so plentiful there is every prospec of stocks maintaining a high level In the 4 per cents, thoto are onlj ! three movements, all of which repre sont advances. Tlio table of quota- ! tions, as compared with the proviom week, is us follows Sep. Sep. Move12lh. 19th. ment, Near Zealand 1929 ... 112 J'2 ; N.S.Wales 1933 ... 117 117 Victoria 1920 .. 108?, 109] Ri«o 16. S. A usiral'a 1930 ... 111} 112 Rise 6s Queensland 11124 ... 112 112 i Rise 10j W, Auairafla 1931 ... 121 121 In the 31 per cents,. South Australia and Queensland have recoded slightly, while Victoria and Tasmania have advanced. The quotations are ns under Sep, Sep. Move12th, 19th. mcnt, Now Zealand l!MO ... 10GJ 10GA N.S. Wales 1924 ... 1(10 106 Victoria 1923 .. 1021 102} Ri css 3. Australia 1030 ... 107} 107 F.tll 6s Queensland 1924 ... Ift",J 105 Kali 5< Tasmania 1910 ... 105J lOli Hi.-e 10.Percy Pehyx.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WDT18950924.2.23
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Daily Times, Volume XVI, Issue 5138, 24 September 1895, Page 3
Word count
Tapeke kupu
856THE ONION HANK OF AUSTRALIA Wairarapa Daily Times, Volume XVI, Issue 5138, 24 September 1895, Page 3
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.