SYDNEY BUILDING TRADE.
Addressing members of the Equitable Permanent Building, Land, and Savings Institution, Sydney, at the annual meeting recently, the chairman, Mr. It. A. Malloch, said that evidence of improvement in business was so definite that a speedy return to more satisfactory conditions could bo expected. During the CO years of the society's existence advances have aggregated £3,941,526. The reduction in the mortgagors' balances, as disclosed in the balance-sheets, was occasioned by the inflow of repayments from borrowers, while the outflow of advances had to be restricted, consequent upon prevailing conditions. This necessitated a further return of depositors' moneys, but the amount was modified by increasing the sums, temporarily invested, in expectation of a speedy return to more extensive and healthy lending operations.
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Evening Post, Volume CXVIII, Issue 49, 27 August 1934, Page 12
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124SYDNEY BUILDING TRADE. Evening Post, Volume CXVIII, Issue 49, 27 August 1934, Page 12
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