Company Notes

By LOTHBURY

COMPARING the annual accounts of tt k_,English banks, it is now apparent th: Barclays -has been able to attract more dcposi and use them more efficiently than the othe and therefore deserves to he the niarket leader.

le is rs Westminster has done particularly well t increasing its deposits by 9 per cent and its rali of advances to deposits has now moved up 56 per cent. The chairman, Mr. J. A. Stirlin points out the danger of short-term 'hot mono used for long-term investment by some instill tions here.

Sir Archibald Forbes, chairman of tl Midland, whose net profit moved up fro i £5.287 million to £6.490 million, mentions his report that in a favourable economic clima the ratio of deposits to advances could be con fortably kept above the 50 per cent withoi creating general uneasiness.

After two years of lower earnings Lloyds tu increased its profits by 20 per cent. It It benefited from higher dividends from tl National Commercial Bank of Scotland and tl two large h.p. companies, Lloyds and Scotti! and Bowmakers, in all of which it has a su stantial interest. The chairman, Mr. Hara Peake, discloses a new valuation of the Bank premises at £43.5 million based on a 1959 valu tion figure.

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Barclays Ll Lloyds LI Midland LI .. Westminster LI

Williams Deacon's Rank, based on Manchester. did very well to increase its profits by 23 per cent. The final dividend is raised to 10 per cent. making a total of 17 per cent. Deposits were only marginally higher but advances jumped by Ill per cent and now represent only 50 per cent of deposits. The new chairman, Mr. K. G. Holden, states that during the past year six new branches were opened.

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Dividend 2s. 3.6d. Is. I0.6d. 2s. 4.8d. 2s. 41d.

Price 54s. 6d. 42s. 54s. 54s,

Yield 4.2 4.5 4.4 4.4