A FLOURISHING BANK.

Poverty Bay Herald, Volume XLII, Issue 13697, 29 May 1915, Page 7

A FLOURISHING BANK.

[Pre*. Assn.— By Telegraph— Conrrlspttit:)

SYDNEY, May 28. At the half-yearly meeting of the Bank of New South Wales, the report, which was adopted, showed net profits £239.407. A 10 per ceistum dividessd was declared, and £50,000 added to the reserve aisd £105,136 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 m conjunction with other war measures. So long as it- was done within prudent limits, it would serve a useful purpose. The war affected trading interests m Australasia much less than might be expected. . , Reviewing the trading and financial position, he ssiid it wsss osie which should give us confidence m, the future, though much depended osi the adoption of a policy of financial restraint all round. In New Zealasid busjiness had beesi well maintained. He. mentiossed that quite sv thousand men on the staffs of their other bsinks had volunteered for the war, and their places were being kept open. Probably the bank would have to augment its contributions to various funds as time goes on.