A PROSPEROUS UNDERTAKING.
In another column I have referred to certain passages in the speech of Mr. Andrew Williamson, the chairman of the English, Scottish and Australian Bank, dealing with Australian borrowing abroad. I would like, however, once again to congratulate the shareholders upon the remarkable progress which their institution has made under the present able management and Mr. Williamsonls chairmanship. To some extent, the remarkable growth hi the figures disclosed in the -recent -annual report must lie connected with the recent acquirement of another institution, namely, the Royal Bank of Australia. Even, however, when all allowance is made for the expansion in banking figures since the War, the details given by Mr. Williamson of the advance In the figures of the present balance-sheet, when compared with ten years ago, are very striking. From a total of £1,079,000 the subscribed capital has grown to £4,875,000, while deposits during the same period have risen from £9,000,000 to £33,000,000. A. W. K.
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