AUSTRALIAN BANK OF COMMERCE.

Colonist, Volume LIII, Issue 13168, 26 July 1911, Page 3

AUSTRALIAN BANK OF COMMERCE.

A SATISFACTORY YEAR,

[Paras Association—€o*T*rom.] (iiefeeived July 25i \X.h ii.mi) Sydney, July 25. At tho annual meeting of the Australian Bank of Commerce the net profits fpr-th© year were reported to be £14,957, to which was added, an-undi-vided profit of deajGiGi.makingjel&SO* available' for" distribivti<Jiji .. A djyidgns of 2j.per bent was declared, absorbing £14,550, and the balance of £3,954 was carried forward. •■ •

Tho business, showed satisfactory growth. As compared with the previous year advances increased £505,----053, and fixed deposits and current ac* counts increase^ £454,755. The go.d stocks and other securities increased £230,000. Tho chairman stated that tho land tax was having a more severe effect than was anticipated, but the Federal notes tax had not had a very material effect.

(Received July 26, 0.30 a.m.) Sydney, July 25. The dividend makes, with the . 31 per cent declared-for iho first,, naif, year, a total of 3 per cent for the whole year.