BANK OF NEW SOUTH WALES.

King Country Chronicle, Volume V, Issue 314, 23 November 1910, Page 5

BANK OF NEW SOUTH WALES.

By Telegraph.—Press Association.—Coiiyrisrlu Received November 22, 9.20 p.m. Sydney, Last Night. At the half-yearly meeting of the Bank of New South Wales, the report, which was adopted, showed a profit of £201,647. A dividend at the rate of 10 per cent, was declared, absorbing £133,709; interest on new capital paid in advance took £6958 and £43,280 was added to the reserve fund and to the officers' provident fund £IO,OOO. The balance was carried forward. Advances show an increase of £1,600,000 well spread throughout Australasia. The chairman said the season had been favourable both in Australia and New Zealand. Received November 23, 9.40 a.m. Sydney, This Day. The chairman of the Bank of New South Wales at the meeting stated that the advances chiefly consisted of small and moderate advances to settlers, who were gradually filling up farm lands throughout Australia and New Zealand. Referring to the Federal land tax and its discriminative character, he raised some economy questions which might have important issues. With respect to landed property all round, which was at'present not forseen, the banks would come under the highest scale of taxation, including their smallest branches, which did not seem quite reasonable.