ANGLO-SOUTH -AMERICAN BANK.
The chief feature - of the accounts of the Anglo-South American Bank this year is the decision of the directors to deal with the valuation of the capital employed in South America and other countries.. This capital, owing to. the depreciation of foreign currencies, showed a decline in value in sterling, and hitherto footnotes to the balance sheets of the Anglo-South American Bank itself and its chief auxiliary, the British Bank of South America, have indicated as much. With the stabilization of Argentine currency upon a gold basis and the prospect of the return to gold standard principles by Brazil, the directors have decided to use £800,000 from the reserve of the Anglo-South American Bank to write off this depreciation, which they have done by writing down the book value of the shares held of the British Bank of South America. The balance sheet itself shows a strong position, the proportion of liquid assets being high, and the bank holds a substantial amount of British Government securities, so that it is in an excellent position to take" advantage of any improvement in South American affairs. Since the publication of the report the price of the shares has 'risen. '
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