The Profit and Loss account of the Chartered Bank of
India shows the effect of the recent disturbance of exclianges"and! depreciation in security values. The balance-sheet, howeVei, is a thoroughly sound one, and the depreciation in investments has been met by the sound and straightforward method of transferring £1,000,000 from the Reserve and earmarking the same for this depreciation. As a matter of fact, the report shows that this depreciation, which at the end of last year amounted to £857,000, has, apart from the trilling sum. of £41,000, completely disappeared. The date of the report, however, was March 11th, and since then there has been a further appreciation in Government securities. The Deposits at £38,616,000 show a decline of about £2,000,000 com- pared with the same date a year previous.
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