BANK OF NEW SOUTH WALES.

Star (Christchurch), Issue 8942, 30 May 1907, Page 1

BANK OF NEW SOUTH WALES.

HALF-YEARLY MEETING. United Frets Association— By Electrio TetogmpE— Copyright. . SYDNEY, May 29. At the haJf-yearly meeting of the {Bank of New South Wales, it was reported that the net profits, after mak-ing-all provisions, amounted to £141,582. This, with the undivided balance last half-year, gave £169,000 for distribution. A divident was de- \ dared at the rate of 10 per cent, the turn of- \ £25,000 carried to reserve, £15,000 to the Buckland Fund, and 1029,314 Carried forward. The chairman reported that satisfactory business had been done during the half-year. He explained that the ißuckland Fund had, been established by fche late Mr Thomas Buckland, a former president of the bank, who gave £1500 to meet exceptional cases for relief out. Bide of the scope of the officers' provident fund. The directors considered the present an opportune time to make a grant to the fund which would enable them to further supplement retiring, allowances to aged and infirm' officers. " The report was adopted. . v. •■■-..... A special meeting, held subsequently, 'agreed to increase the bank's capital from £2,000,000 to £2,500,000, by the issue of 25,000 new £20 eihares.