BANK OF NEW SOUTH WALES.
A PROSPEROUS HALF-YEAR. By Telegraph—Press — Copyright, < (Received May 30, 12.44 a.m.) Sydney, May 29. The half-yearly meeting; of the Bank of New South Wales was held, to-day. The net profits, after making all provision, amount, to £141,582. This, with the undivided balance from last half-year, give* £169,000 for distribution. A dividend was ;declared at the rate of 10 per cent. [£25,000 was passed to reserve, £15,000 to the Buckland fund, and £29,314 carried forward.
The chairman reported satisfactory business during the half-year. He explained that the Bucklnnd fund was established, by the late Mr. Thomas Buckland, a former president of the bank, who gave £1500 to meet exceptional eases for relief outside the scope of the officers' provident fund. The directors had considered the, present an opportune time to make a grant to the fund, which would enable it/to further supplement the retiring allowances of aged and infirm officers. , .
The report was adopted. AC a special meeting held subsequently, it was agreed to increase the bank's capital 'from £2.000,000 to £2,500,000, by the issue of 25,000 £20 shares. /'
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New Zealand Herald, Volume XLIV, Issue 13451, 30 May 1907, Page 5
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183BANK OF NEW SOUTH WALES. New Zealand Herald, Volume XLIV, Issue 13451, 30 May 1907, Page 5
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