COMMERCIAL

Grey River Argus, 22 July 1941, Page 1

COMMERCIAL

NATIONAL BANK. The General Manager of The National Bank of New Zealand, Ltd., announces payment on 22nd. July of a final dividend for the half-year ended 31st. March, 1941, at the rate of 4 per cent, per annum free of United Kingdom Income Tax. The above dividend will be payable in New Zealand at any branch of The National Bank of New Zealand, Ltd.. at the rate of exchange for demand drafts on London current at date of dividend. An interim dividend at the rate of 3 per cent, per annum, less United Kingdom Income Tax, was paid in January last. This Bank shows it capital and reserves as follows:—Subscribed qapital, £6,000,000; paid-up capital, £2,000,000; Reserve Fund (invested in Government Securities), £1,000,000; Currency Reserve (invested in Government Securities). £500,000; Reserve Liability of Shareholders, £6,000,000; and in addition, there are undivided profits carried forward of £115,849. BANK OF ENGLAND. LONDON. July 13. A further increase in United Kingdom note circulation has brought the total to more than £650,000,000, but financial circles still see no particularly disquieting inflatory implications. says the “Financial News ” Some commentators, however, say the increase in the country’s cash requirements is now- due much leas to an expansion of production than to the rise in wage- rates, wh'ch is regarded as a purely inflationary phenomenon. Some accept the opinion that the recent increase in taxation will probably not succeed in curtailing snendin" by wage earners.