4 FEBRUARY 1938, Page 42

AUSTRALIAN BANK CENTENARY.

The Union Bank of Australia held its centenary meeting this week in fortunate circumstances. The chairman, Sir John H. Davidson, was able to describe the conditions of Australia as prosperous. Primary producers have secured high prices and fair profits ; new industries have been springing up and unemployment falling. He nevertheless felt it necessary to utter a serious warning about the present high level of taxation both in Australia and New Zealand.