BANK OF N.S. WALES
SYDNEY, May 24. The half-yearly meeting of the Bank of New South Wales was held to-day. The net profits for the half-year _ were £183,938, which, with the undivided balance from the last half-year, gives £229,043 for distribution. A dividend af the rate of 10 per cent, per annum was declared, £40,000 was added to the re< serve fund, £SOOO to the officers' provi-' dent fund, and £49,643 was carried for ward.
The Chairman stated that the past year had been a good ono for Australasia. The export trade had shown great activity, and the import trade had not shown any undue expansion, but had evenly kept pace with requirements. In New Zealand a tendency to inflation, fc< which reference was made last year, had been checked, and the position had much improved, and gave no cause for anxiety. The colony was prosperous, and the bank's business had been conducted on reasonable conservative lines.
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Otago Witness, 1 June 1910, Page 31
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157BANK OF N.S. WALES Otago Witness, 1 June 1910, Page 31
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