THE LONDON BANK OF AUSTRALIA.
CABLE NEWS.
LARGE REDUCTION OF CAPITAL.
United Piese Association—By Electric Telegraph—Copyright. (Received March 28th, 8.59 a.m.) LONDON. Maich 27. The directors of the London B«nk of Australia propose to reduce tho capital by £7 10s per chare, in order to make the. fulkfct provision for losses of stock and depreciation of properties. Tho profits for the year amount to £85,000. After payng interest on transferable deposits, £10,000 will b? carried forward. (Received March 29th. 4.53 p.m.) LONDON, March 28. At a meet ins; of tho London I3:mk, the, directors' report stated thai o«:ing to the disastrous offocts of the prolonged drought upon pastoral properties in Australia, it was necessary to be pnriont, uv.d reduce the capital. The "Financial Tintris" , pays the London Bank Board are wise fn reduction, which pmitly strengthens thoir position.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19030330.2.43.6
Bibliographic details
Press, Volume LX, Issue 11545, 30 March 1903, Page 5
Word Count
138THE LONDON BANK OF AUSTRALIA. Press, Volume LX, Issue 11545, 30 March 1903, Page 5
Using This Item
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.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.