It is announced that during the last. financial year the Philippine National Bank made net profits. amounting to P.6,767,345.S1. After meeting reserves, taxes and the net income available for dividends, it is: believed that about P.3,000,000 will remain as surplus.
In view of the fact, that the bank charter limits the payment of dividends to 12 per cent. for any one year, a six per cent. dividend has been declared for the period from July 1 to December 31, 1920.
Text read from the printed page and cleaned; old type leaves the occasional error.