LIQUID ASSETS AND INVESTMENTS On the assets side you will
see that cash in hand and with the Bank of England and other London bankers, and money in London at call and short notice amount to almost sixteen million pounds, thus providing ample evidence that the bank's usual highly liquid position has been maintained. That sum represents 22 per cent. of our liability for deposits and notes issued.
We have to report a decrease from £27,193,628 to £24,791,619 in British Government securities.
Sales to meet our investment in Glyn, Mills & Co., the demand for increased accommodation by our customers and the lower values of gilt-edged securities, are the principal reasons for the decline under this heading.
We can again say that a goodly proportion of our investments in Government stocks is in short- and medium-dated stocks, and that all our investments are valued at or under the market prices ruling on the date of our balance.
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