The annual nice ting of shareholders this Bank was held yesterday morning. The Chairman said:—T_ have now the pleasure to submit to you the Report and Balance Sheet to 31st December, 1901 (which, with your permission, we will take as real). You will be pleased to see that our profits are the best_we have had yet, being net 3149, 196.55, against $117,682.08 last year. The Dividend this year is $1.68 against 50 last year (and $1.36 the year before), and we continue our policy" of plain substantial part of our profit to Reserve—the amount added this year being $60,000. hose results are all the more satisfactory as the period under review has been particularly dull one—trade not yet having fully recovered from the effects of the Boxer troubles in the North of China, Tt had been hoped that, by this time, dealers would have regained confidence, but while ons have diminished in volume have increased in so only trust that the present year will see a much-wished-for extension of trade all round, Our Government! sccurites show a reduction from last wand they stand in our books at well under matt value. Before moving that the Report and counts be adopted, I shall be happy to answer any questions that shareholders may desire to No questions were asked, and the port and accounts having been seconded, were passed unanimously. The other business was then transacted.
Text read from the printed page and cleaned; old type leaves the occasional error.