BANK OF NEW SOUTH WALES

New Zealand Herald, Volume LII, Issue 15930, 29 May 1915, Page 8

BANK OF NEW SOUTH WALES

HALF-YEARLY MEETING. • By Telegraph— Association-Copyright (Received May. 29, 1.85 a.m.) Sydney, May 28.' The half-yearly general meeting .of the Bank of New South Wales adopted the report, which showed that the net profits were £239,407, and a 10 per cent, dividend was declared; £50,000 was added to the reserve, and £105,136 was carried forward. The president, referring to the note issue, said that at its present dimensions it was distinctly an emergency measure,' and must be viewed' in conjunction with other war measures. So long as it was only within' prudent limits, it would serve a useful purpose. The war had affected trading interests in Australasia much less than might have been expected. Surveying the trading 'and financial, position, the president said:-"It is one that can give us-confidence in the future, though much depends on the adoption of a policy of financial restraint all round." » The New Zealand business, it was reported, had been well maintained. The president mentioned that quite 1000 men from the staffs of the Now South Wales and other banks had volunteered, and gone to the war. Their places were being kept open for them.