- UN/ON BANK OF SCOTLAND. -
The report of the Union Bank of Scotland made up almost to date, that is to say to April 1st, shows a very satisfactory position. It must be remeinbered that the year under review experienced little of the benefit of the somewhat higher money rates of the early part of 1932, and therefore, the reduction of less than £10,000 in the profit is excellent. The amount brought in, however, was smaller, and this time—as, indeed, was the ease last year—there is no alloca- _ tion to the Reserve, while the amount.placed to Contingencies is £50,000 against £100,000 a year ago. The dividend, hawever, is maintained at the former rate of 18 per cent., and there is an increase in the carry forward. There is small expansion in the Deposits, while a reduction in the Loans has resulted in• an increase of nearly E3,700,000 British Goverument'seeurities which now stand at £11,535,001 The balance-sheet, in ,f,act, is a very liquid one.
.(Cantinued-on page 626.)
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