BANK OF NEW S0UTH WAIVES.

Evening Star, Issue 9123, 2 May 1893, Page 2

BANK OF NEW SOUTH WAIVES.

[Pkr Press Association.]

SYDNEY, May 1

At the half-yearly meeting of the Bank of New South Wales, held to-day, the report was adopted amid great enthusiasm. The net profits were shown to be £lll,OOO, and a dividend at the rate of 15 per cent, per annum was declared, and £IO,OOO carried f o the reserve fund, which now amounts to £1,010,000. The balance carried forward to profit and loss account was £15,900. In his speech the chairman said, despite the depression and financial unrest, the bank had made satisfactory progress, and their whole energies were concentrated in .strengthening the reserve.

[Pkr United Press Association.]

CHRISTCHURCH, May 2.

Referring to the result of the half-yearly meeting of the Bank of New South Wales, held at Sydney to-day, the inspector of the hank here lias been advised by his head ofHec that the profits would have justified the usual bonus, but that it was considered prudent to withhold it. Since the bank has been established £320,001) lias been written off the bank premises account out of profits.