BANK OF NEW SOUTH WALES
«O» A SATISFACTORY REPORT By Electric Telegraph — Gopyright * (Per United Press Association.) SYDNEY, May 2b At the Bank of New South Wales: half-yearly t meeting the report, which was adopted,- 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 ten- per cent per annum absorbed £87,5004 the augment a.ion of the reserve £100,000 and car ried forward £69.405. -^ The president said that the circu( latio'n had been rduced by £22,000, due to the retirement . of £16,000 of the old Australian Issue, and a slight contraction in the New Zealand issue. The deposits shewed an increase oi £2,185,000. There was " also some increase- in the fixed deposits. The coin, bullion and cash balances showed an increase of neaily £2,000---000. The favourable season enabled many clients to reduce tlieir debts and the money was, used in exchange for. business loans. The advances were well spread throughout Australasia.
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Grey River Argus, 27 May 1914, Page 5
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165BANK OF NEW SOUTH WALES Grey River Argus, 27 May 1914, Page 5
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