MERCANTILE BANK OF INDIA.
The directors of the Mercantile Bank of India must be con- gratulated upon the steadiness of their profits from year to year, despite the varying conditions in India, for such steadi- ness is eloquent not only of good, but of conservative manage- ment. For the past year the net profit, after providing for bad and doubtful debts, including the amount brought forward, was £419,506, as compared with £415,047 a year ago. A further £30,000 is added to the reserve, raising it to £1,480,000. A sum of £15,000 is added to the Officers' Pension Fund, while a further £40,000 is being written off Freehold Bank Premises. After paying the usual fmal dividends on the " A," " B " and " C " shares, making 16 per cent. for the year, there is a balance forward of £166,506, against £162,047 a year ago.
* * * *