1 DECEMBER 1939, Page 37

DEPOSITS

Turning to the balance sheet, we show under the heading "Liabilities " a moderate decrease, compared with a year ago, of £948,495 in deposits which stand at £68,973,438. Notes in circula- tion show an increase of almost £200,000. The increase under this heading no doubt reflects the industrial activity in Scotland. Acceptances and indorsements, and other obligations, also show a decrease of approximately £700,00o. That calls for no comment.