BANK OF COMMERCE.
ANNUAL MEETING. [UNITED PEESS ASSOCIATION —COPYRIGHT.] SYDNEY, July 25. A the annual meeting of the Australian Bank of Commerce the net profits for tlie year were shown to be £14,957, to which had to be added undivided profit £3546, making £18,504 available for distribution. A divident of 27.- per cent was declared, absorbing £14,550. A balance of £3954 was carried forward. The business showed a satisfactory growth compared with the previous year. Advances increased by £505,053. Fixed deposits and current accounts increased by £454,758. The gold stocks and other securities increased by £230,000. The chairman stated that the land tax was having a more sever© effect than anticipated. The Federal notes tax had not had a very material effect. The dividend makes } with 3| per cent, declared in the first half of the year, a total of 6 per centum for the whole year.
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Gisborne Times, Volume XXIX, Issue 3280, 27 July 1911, Page 2
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147BANK OF COMMERCE. Gisborne Times, Volume XXIX, Issue 3280, 27 July 1911, Page 2
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