LARGER RESERVES NEEDED
COMMONWEALTH BANK’S ADVICE : SAFEGUARDING AUSTRALIA*. FINANCE (ramn wuwt aaaocuTioa— coixaidxxj SYDNEY, September a Reviewing the Australian econotnit position, the directors of the Commonwealth Bank, in their half-yearly report, strike an optimistic note, oat make suggestions for the building up of reserves. “Good prices for exports, and the flow of money for investment seem likely to continue in the immediate future,” they say, “but the possibility of a check to business activity abroad or in Australia makes it prudent Iff seize every opportunity to build qp sterling reserves.” The report advises a reduction of Government loan expenditure. The bank’s half-yearly profit to June was £768,355, compared with £853,711 for the corresponding period of ISSML
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Press, Volume LXXIII, Issue 22194, 10 September 1937, Page 14
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116LARGER RESERVES NEEDED Press, Volume LXXIII, Issue 22194, 10 September 1937, Page 14
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