HALF-YEAR’S PROFIT.
THE COMMONWEALTH BANK. BETTER WOOL PRICES FORECAST(United Press Association—Copyright.) (Received This Day, 2.5'n.m.) SYDNEY, Tins Day. The Commonwealth Bank’s profit for the half-year ended December 31 amounted to £849,537, earned in .part by banking business £254,168; rural credits £29,211; note issue £46,953; Savings Bank £119,207. Of the total £201,291 has been allocated to reserve, £186,686 to the national debt sinking fufid, and £335,215 to the Commonwealth Treasury. The balance remains for development. The directors’ report forecasts’improvement in the prices of wool before long, and urges greater efforts for production and reduced expenditure on imports and unproductive works. A considerable amount of geld will be .required shortly to be exported overseas, and this is now possible without impairing the metal reserve required to support the note Issue.
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Ashburton Guardian, Volume 50, Issue 128, 12 March 1930, Page 5
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128HALF-YEAR’S PROFIT. Ashburton Guardian, Volume 50, Issue 128, 12 March 1930, Page 5
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