B.O.B. PROGRESS.
At the time of the announcement of a 6 per cent. dividend, as compared with 8 per cent. in the previous year upon the " B " capital of the British Overseas Bank, it was judged that the bank must have made considerable progress in its profit- earning power. That impression was fully confirmed by the character of the annual Report, which' disclosed a profit of £1-50,000 against £126,000. A further amount of £25,000 has been placed to the Reserve, £5,000 to Premises, while the carry forward of £60,566 is slightly above the figure of a year ago. The balance-sheet also shows that Deposits have risen by more than £1,000,000 while there has been an expansion in Loans and Advances and Bills Discounted. On the assets side of the balance-sheet considerable liquidity is shown. The Report states that since the end of the year Mr. Dudley Ward, one of the managers of the bank, of which Mr. Arthur Gairdner is the managing director, has been elected to _a seat on the Board. Those who know the excellent work that Mr. Ward has done in other spheres will not be surprised that his abilities have quickly secured for him this well-deserved recognition on the part of the Board of the British Overseas Bank.
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