BANK OF AUSTRALASIA.
London, April 4,
At the annual meeting of the Bank of Australasia, the chairman (Mr Alban G. H. Gibbs) said that the decrease in profits was due to the stagnation in trade and the reduction in the amount of advances by the bank. He hoped that a revival of prosperity in the colonies would enable tha institution to renew increased dividends.
April 5.
At the Bank of Australasia meeting, Ml Gibbs said owing to tho reduced rate ofl interest deposits fell off L 350.000. In Queensland, owing to the tax, the note issue had decreased L 85.000. Some shareholders advised the directors, if the depression continues, to bring portion of the capital to England.
At the Bank of Australasia's meeting Mx Gibbs instanced as hopeful features of th« position of the colonies increased produotlob, the rice in wool and silver,' the great output of gold, the improved revenue returns, public and private economy, and the absence of commercial crises.
The Japanese yen is now of the value of only 2s Id. On this basis the indemnity demanded from China is £73,000,000. The hospital returns for the past week are as follow :— Remaining from the previous week, 10+ ; admitted during the week, 22 ; discharged, 19 ; death (William Dreaver). I:—total1 :— total remain' dc. 108.
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Bibliographic details
Otago Witness, Issue 2146, 11 April 1895, Page 21
Word Count
215BANK OF AUSTRALASIA. Otago Witness, Issue 2146, 11 April 1895, Page 21
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