TOWARD RECOVERY
Australia’s Important Steps REVIEW BY BANKER (Received November 30,10.30 p.m.) Sydney, November 30. Addressing the annual meeting of shareholders of the Bank of New South Wales to-day, the chairman, Mr. T. Buckland, said: —“Australia has made substantial and important steps toward recovery, but there are no grounds so far which justify complacency, while the trend of events abroad has done little to make Australian problems easier. The habit of placing quantitatiye limitations upon imports has dangers for the Commonwealth and New Zealand, which are likely to suffer serious losses. Economic nationalism is the major cause of the set-back, and nobody can seriously doubt that economic nationalism means economic loss.” The balance-sheet of the bank disclosed a net profit for the year ended September 30 of £439,738. compared with £439,616 last year. The dividend is unchanged at 5 per cent., and will absorb £439,000. Deposits show an increase of £5,523,000. Treasury bills amount to £6,455,000, representing a decline of £3,743,000.
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Bibliographic details
Dominion, Volume 28, Issue 58, 1 December 1934, Page 7
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161TOWARD RECOVERY Dominion, Volume 28, Issue 58, 1 December 1934, Page 7
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