STRONG CASH POSITION.
The general balance-sheet also discloses a strong position. Deposits and Current Accounts have increased during the year from £25,700,000 to £28,200,000. The Cash position is particularly strong, the total in hand being £6,503,000, against £5,698,000. After allowing for this year's appropria- tion, the amount of the Deferred Inscribed Stock is now only 1150,000, so that ere long the stock will be completely wiped out. The Reserve now stands at £2,050,000, or very nearly equal to the paid-up capital, while the amount carried forward of £230,722 compares with only £183,414 a year ago.
A. W. K.