BANK OF NEW SOUTH WALES

Evening Post, Volume LXXXIX, Issue 126, 29 May 1915, Page 5

BANK OF NEW SOUTH WALES

HALF-YEARLY MEETING. SYDNEY, 28th May At the half-yearly meeting of the Bank of New South Wales, the report, which was adopted, showed net profits £259,407 A "10 per centum dividend was declared, £50,000 added to the reserve fund, and £105,136 carried forward. The president, referring to the note issue at present, said its dimensions Wore distinctly an emergency measure, and must be viewed in conjunction with other war measures ; po long as that is done within prudent limits it will serve a useful a purpose. The war has affected the trading interests of Australasia much less than might have been expected Surveying the * trading and financial position, it was, ho said, one to give us confidence in the future He thought much depends on the adoption of a policy of financial restraint all round Th« New Zealand business had been well maintained. x He mentioned that quite a thousand men of the staffs of their and other banks have volunteered for tho war, their places being kept open. Probably the bank will have to augment its contributions to the various funds as time goes on. PORTUGUESE REPUBLIC PRESIDENT ARRIAGA RESIGNS. LISBON, 28th May. Dr Manoel Arriaga h&& resigned tho Presidency of the Republic. He was the first President, and was fleeted on 24th August. 1911 OBITUARY LONDON, 2?lh May. The Countess of Cardigan is dead.