COMMERCIAL.
AUSTRALIAN BANK OP COMMERCE. (By Cable.—Press Association.—Copyright) {Received 11.5 a.m.) SYDNEY, this day. At the annual meeting of the Australian Bank of Commerce the net profits for the year were stated to'be £14,957, to which was added the undivided profit, £3546, making £18,504 available for distribution. A dividend of tffo.and a-half per cent was declared, absorbing £14,550. The balance, £3954, was carried forward. The business showed satisfactory growth compared with the previous year, and advances increased by £505,053. Fixed deposits and current accounts increased £454,758, while gold stocks and other securities increased .£230,000. The chairman stated that the land tax was having a more severe effect than was anticipated, bat the federal notes tax had not had a very material effect The divitfend makes, with 3} per cent declared forthe first haif year, a total of 6 per cent for the whole year.
LONDON.
(By Cable.— iPrees Association.—Copyright.) (Received 10.15 a.in.) LONDON, July 23. At the wool sales Clenthill top brought 22j, average 21*; Argyle, 12J and I3J. ■Wheat.—Two cargoes of. Australian, sold at 33/6.
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Bibliographic details
Auckland Star, Volume XLII, Issue 176, 26 July 1911, Page 2
Word Count
176COMMERCIAL. Auckland Star, Volume XLII, Issue 176, 26 July 1911, Page 2
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