BANEING IN SCOTLAND.
Shareholders and customers alike of the Royal Bank of Scotland have becOme accustomed to anticipate the main- tenance each year of a good dividend coupled with a sound report and both as regards dividend and report; expectations this year have been athply fulfilled. The dividend which has been at the .rate of 17 per cent. for some years past is maintained, while there has been a further moderate increase • in the profits. Once again too, a prudent policy is adopted. with regard to the allocation of the profits; a further sum of £25,000 has been written off expenditure on Bank Buildings, and after allocatirg £30,000 to Pension Reserve Fund and Paying the dividend already mentioned, there is a remaining balance of over £76,000, which this time has gone on to the Published Reserve, raising that Fund to a total well above the issued capital of the Bank. For sonic few years large -sums have been allocated to Contingency Reserves, and the strength of those inner reserves is evidently indicated by the present action of increasing the published Reserve or as it is styled in the ease of the Royal Bank of Scotland, The " Rest " Account.
• The strength of the Balance-sheet is in ,harmony with the report as a whole. Deposits show the substantial increase of over £5,000,000, while there is a rise of over £3,000,000 in British Government Securities. I have already referred to the strength of Inner Reserves and in addition, the report has the usual note to the effect that all the Bank's investments are valued at or under the prices ruling at the date of the Balance-sheet. An increase of nearly £1,000,000 under the head of Advances seems to indicate some trade expansion. Altogether, the Directors and Management may be con- , gratulated both on the incr msed earning power of the Bank
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