THE COMMERCIAL BANK.

Evening Post, Volume CIV, Issue 23, 27 July 1927, Page 14

THE COMMERCIAL BANK.

The Commercial Bank of Australia, Ltd., in its report for the year ended 30th June, shows a net profit of £341,710, compared with £317,706 for the previous year. With £66,140 brought forward, a. sum of £407,----851 is available. The directors have placed £60,671 to the reserve fund, and £25,000 to the reduction of premises account. Dividend OS 4 per cent, on preference and 15 per cent, on ordinary shares, including

interim, absorbs a total of £234,420, leaving £81,759 to be carried forward: A comparison of accounts with those of last year is as follows:— ■ Tear ended 30th June. 1926. 1927. Net profit 317,706 . 341,710 To reserve fund... 110,083 66,671 To reduction of bank premises 20,000 25,000 To dividend 4 per cent, pref.'shares 84,694 84,694 To dividend 15 per cent. on ord. : shares . 119.35S 149,726 To carry forward.. 06,140 81,759 LiabilitiesCapital 3,065,721 3,290,050 Reserve fund .. 1,000,000 1,300,000 Notes in circu- ■ ' lation .: 104,086 ■ 176,124

Bills payable .. 1,303,167 1,665,900 Deposits 20,615,5661 21,102,189 Due to other banks 15.399 27 AssetsCash items .... 3,625,231 3,779,753 Money at call and short notice in London and British Treasury Bills .... 3,570,000 2,225,000 Government and municipal stocks . 242,181 383,199 Bills receivable in London .... . 3,570,000 2,225,000 Notes and bills of other banks. 267,240 305,90 i Due from other banks 109,085 164,599 Advances 16,206,753 18,381,008 Premises 689,060 746,760 A sum of. £233,328 received as premium on a new share issue was transferred to reserve account. Deposits have increased by £500,000. On the assets side a decrease in London balances is accompanied by a bif?- increase in advances.