The following is the fifty-second report of the court of directors to the ordinary halfyetrly general mesting of shareholders, to held at the City Hall on Saturday, the 22nd August, at noon The directors have now to submit to you a general statement of the affairs of the and balance sheet for half-year ending 30th June, 1891.
The net. profits for that period, including $120,377.54 balance brought forward from last account, after paying all charges, deducting interest paid and due and making provision for bad and doubtful accounts. (except those referred to below), amount to $1,027,646.21.
It is with much regret that the directors have to recommend the withdrawal of $1,290,901.36 from the reserve fund to credit. of profit and loss account. This sum is required to make up a total of $1,170,000 to be placed to eyutingent. acevunt in order to pro-
Investinents, '£100,0002} per cent. Consols £150,000 3 per vent. Indian Government Sterling Loan. The above lodged with the Bank of England wy a Special London Reserve...
Rs. 5,725,000In-
Billsdiscounted, loan and credits 62,697,031.39 ik, Bills receivable. 60,047,094.57 Bank premises. 1,021,696.60 Dead stock... 121,647.93
Text read from the printed page and cleaned; old type leaves the occasional error.