BANK OF NEW SOUTH WALES.

Oamaru Mail, Volume XXXVIII, Issue 10464, 25 May 1910, Page 4

BANK OF NEW SOUTH WALES.

[By Electric Telegraph—Copyright.]

(Pee Press Association.)

Received May 24, at 9.5 p.m. Sydney, May 24. At thb half-yearly meeting of 'the. Bank of New South .Wales the net profit for the. half vear was shown to be £133,938, which, with the undivided balance from last half, gives £229,043 for distribution. A divided of 10 per cent, was declared, £40,000 was added to the reserve, £SOOO to the officers' provident fund, and £49,643 carried iorward.

- The Chairman stated that the past year had been a good 011 c for Australasia. The export trade, had shown great activity,' and the import trade had not shown any nndno expansion, but had evenly kept pace with the 'requirements. In New Zealand the tendency to inflation, to which reference had been made last year, had been checked, and tho position had muck improved, and gave no cause i'or any anxiety. The colony was prosperous, and the Bank's business had been conducted on reasonably conservative lines.