BANKING OVERSEAS.
The recent announcement of the passing of the dividend on the " A " Shares of the British Overseas Bank prepared shareholders for the annual report showing a decline in earnings. As a matter of fact, while the profits for the year of £52,454 showed a decrease of nearly £1o,00o, the actual total available, including the balance brought in, was only about £7,500 under the figure of a year ago, and if the Directors had elected to reduce the amount carried forward, the dividend could have been maintained on the " A " shares. Quite wisely, however, it was considered prudent, in view of the unsettled state of world affairs, to conserve resources, and in place of a dividend a sum of £5o,00o was placed to Contingencies Account, while the carry forward was increased slightly to £71,601. The total of the balance-sheet was a little smaller than a year ago, although Deposits at £3,84o,000 experienced only a small reduction.
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