A PROSPEROUS BANK
HALF-YEAR'S BUSINESS. fI'KR PEKSS ASSOCIATION —COPYRIGHT.] SYDNEY. May 26. At the Bank of New South Wales' half-yearly meeting the report, which was adonted, showed the net profits to be £275.746, whereto a balance of £68,.658 was added, making the total available for distribution £344,405. A dividend of 10 per cent per annum absorbed £87,500. The augmentation of tlie reserve £IOO.OOO avid carried forward £69.405. The President said that the circulation had been reduced by £32.000. due to the retirement of £IO,OOO of the old. Australian issue; and a slight contraction in the New Zealand issue. The deposits showed an increase of £2.185.000. There was also some increase in the fixed deposits. The com bullion and cash balances showed an increase of nearly £2,000.000. The favourable season, he added, en abled manyp borrowing clients to reduce their debts, and the money was used in exchange for business loans. The advances were well spread throughout Australasia.
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Greymouth Evening Star, 27 May 1914, Page 6
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157A PROSPEROUS BANK Greymouth Evening Star, 27 May 1914, Page 6
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