UNION BANK OF AUSTRALIA.
Yet another institution which last week celebrated its centenary is the Union Bank of Australia, and here again there is a very general recognition in the City of the great services which the Union Bank of Australia and other Australian banks have performed in financing the progress of Australia and New Zealand. In those days, optimism and courage were necessary in raising capital for banking enterprises in countries which, however full of promise, were sparsely populated and lacking in transport facilities. During the century, these great countries have become a Commonwealth and a Dominion respectively, and it is well recognised how closely the conduct of Australasian banking institutions has been associated with, and has assisted, the growth of these territories. Down to the present day, the record of the Union Bank of Australia may indeed be said to present a striking picture of the growth of Australia and New Zealand. And there is no doubt that the credit of Australia and the soundness and efficiency of Australian banks gained enhanced prestige from the manner in which both triumphantly emerged from the economic depression of some five or six years ago.
A. W. K.
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