16 MARCH 1934, Page 40


The Directors of the Bank of Australasia may be con- gratulated upon the recovery shown in the net profits for the year ending October 16th last. The balance-sheet is also a thoroughly good one, giving satisfactory signs of some increase in commercial activity in Australia. Thus, Current Accounts have risen from £11,051,627 to £11,792,072. Owing, no doubt, to the low rates of interest, there is a slight contraction in the Fixed Deposits. Advances, however, stand a little higher at £31,247,000, while a feature of the balance-sheet is its continued strength and liquidity. Government Notes and Cash Balances stand at £8,128,000, while Government Securities (British and Australian) represent

upwards of a further £9,000,000. A. W. K.