CENTURY OF BANKING

New Zealand Herald, Volume LXXI, Issue 21961, 19 November 1934, Page 11

CENTURY OF BANKING

AUSTRALIAN INSTITUTION COMMEMORATIVE PUBLICATION To commemorate the centenary of the Commercial Banking Company of Sydney, Limited, the directors of this historic institution have issued an attractive book of some 90 pages, containing, in addition to the history of tho bank, several colour prints and photographs relating to its birth and progress. In striking fashion the publication illustrates how closely the bank has been associated with' the development of Sydney into a great metropolis. It was on November ]. 1834, that the Commercial Bank of Sydney opened its doors, with a paid-up capital of about, £.30,000, that has increased in a century to nearly £5,000,000. In the same period deposits have increased from £23,000 to nearly £49,000,000. Heserves, from being non-existent, stand after 100 years at £4,300,000. These are the bare facts which the book clothes in a story as romantic as any that has sprung from the days of the colonial pioneers. The reader of the history is given an inspiring glimpse of the steadfast- faith which shapes not only the pathway of a community, but an environment of progress and material well-being in which that community may live. The book is printed by W. C. Penfold and Company, Limited, Sydney, and published b'v Art in Australia.