BANK OF NEW SOUTH WALES.

Auckland Star, Volume XLVIII, Issue 148, 22 June 1917, Page 7

BANK OF NEW SOUTH WALES.

HALF YEARLY REPORT AND BALANCE-SHEET. The report of the directors of the Hank of -New South Wales. presented at the hailyearly meeting in Sydney recently I thy balance-sheet appeared in yesterday's "Star"), states that the net profits for the year were £'270.050, tv which had to be added the undivided balance of £10.">.241 from the last half-year, making a total of £.'154.2!12. The balance, after paying an interim dividend, was £287.202. which the directors recommended should be allocated as follows: Dividend at the rate of 10 per cent per annum: reserve fund, £.7-3.000; carried forward. £114.527. In moving the adoption of the halfyearly report, the chairman (.Sir (has. Mackellar. said the notes in circulation were higher by about £250.000 than in .March. 1014, which was due to the bank's expansion in New Zealand, where the notes were issued as part of the Dominion's currency. Deposits were t.'?.470.000 higher than in 1914. which vva,> nearly all duo to current account expansion. Fixed deposits were very steady: on the year itself there had been a decrease of some 1000.000.' Taking into consideration all the factors c\en i-idg on deposits since the war began, the deposit figures were quite satisfactory. Capital and reserves were £76!».980 higher compared with 1014. The Bank had hoped to have bad tin- full amount of the capital in band by this time. but. the embargo placed by the English Treasury on new issues bad not yet been removed. On the assets side, coin, bullion. • ash balances and legal tender notes were .1'M.477.000. against £12..'i00.000 in !!H4. investments were higher by £4.4.">0.000 than three years ago. and Linearly £2,200,000 on the year, this bein" due to participation in British. Australian and New Zealand war loans. The aggregate of first line assets was now over U25.000.000, against £24.000,000 three years ago. Advances were about C 1.300.000 higher than at March. 1014. The balance of the half-year's profits was a few thousands more than at March. I'.iU. but this was after providing for nearly C 40.000 additional taxes in flreat Britain and Australasia. sir Charles Mackellar stated that out of l.Sdii employees in the Bank when tl..' war began, nearly Coll had enlisted, and about .".n bad lust their live..

A successful concert tvas held i:i the Parish lUII. Northcote. last night, in aid of the building fund of St. John's Anglican Church. The programme, which was greatly enjoyed. was contributed by Madam ( huules. Mrs. F. C Hoadley. Misses Clarice Wood and R. (afford, Messrs. .1. Ryan. A. McElwain. E. skam. A. Ripley (Lvrie Four), and Ernest Drake. The Rev. Lawrence (.'reer presided. If yon want your hands to be smooth and skin soft and pliable, use NAZOL OINTMENT. It penetrates ths pores, heals the crarkg, and takes away the roughness.—(Ad.l