The Archive · 1892

Australia and China

An extraordinary general meeting of the proprietors of this bank was held on 19th October, at the City Terminus Hotel, under the presidency of Mr. Willian Paterson.—The Chairman in moving the declaration of an in dividend xt the rate of 7 per cent. per auvuny, said that they met for the simple purpose vf obtaining the suction of the shareholders fur the payment of that dividend, Knowing, as they did, that the past Ialf-year bed: boon one of trouble, it was pleasing to be able to say that, after providing for everything, they were quite able to pay the sane dividend they had for the past cen yea They were told on a former occasion that their fands were. practically in gold, and as there had been various questions on the subject, he thought it right to tell them again that they continued this policy, and there was little probability of their departing from it while there was so much uncertainty with regard to the silver question, He need scarcely say that the Eastern trade was never in a more unsatisfactory state than now, and that Anglo-Lidian banking is affected by the change in currency in relation to gold, He might ven. ture to h-po, however, that some amelioration of the troubles would result from the International Congress, which would meet next month in Brussels, Laughter.) He heard shareholders Inugh; but hu hoped that they would be able to Iaugh also herenfter.—Mr. E, Levita seconded the motion.—De, Drysdale asked upon what grounds there was any alarm in relation the currency. It seemed to him thas there cowed be no danger, because they were receiving and paying away in the same currency in Tudia,—The Chairman said they were constantly working with silver in Tudia, and they were always keeping gold in view, ax that was the ewrency tw which they must look.—Dr. Drysdale asked whether there was any danger India account of the currency.—The said if they kept within certain the reserve would b The reserve remains intact, nnd in gold. (Oheers.)—A Shareholder: here has been A disastrous shipwreck and a Inrge lose of silver." Is the bank interested in that The Chairman: Tam not aware that we are; but if we should have any lose, it will be well.—The resolution was put, nnd carried unanimously, and a vote of thanks to the chairman closed the meeting.—Financial Neves,

Text read from the printed page and cleaned; old type leaves the occasional error.

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