Ottawa, Mar. 22.
'A. steady expansion of Canada' trade last year was announced by the Minister of Finance, Mr. E. N. Rhodes, in introducing the Budget in the Canadian House of Commons today.
This showed that ordinary revenue totalled $359,000,000 and expenditure '$856,000,000—the rst surplus of the ordinary account since 1929-30, Capital and special expenditure totalled $29,000,000 The railway deficit was $48,000,000, but the total debit was $17,000,000 compared with $289,000,000 last yea Mr. Rhodes said that Canada was the first among the countries of the world in the degree of advance in industrial activities in the past two years.
The volume of business in February this year was 485 per cent above the low point of the depression years.
The increase in trade amounted 10 $68,000,000, and the favourable trade balance was $124,000,000—Reuters.
The balance sheet and. profit and log account of the Deutsche Banke and Disconto Gesellschaft shows how banking has adapted itself to national requirements and is consistent with the principles and ideals of the present regime.
The share capital for last year shown at 130.060,000 Marks and. the Ret profits as 21,060,000 Marks. The bank has however, just as in the previous year, when the profits amounted to 25,930,000 Marks, declared no dividend, nearly the whole earnings, i.e, 20,150,000 Marks being used for writing off and for strengthening reserves.
This policy. which in more normal fumes might ava met vith sharp brotest from the shareholders, is defended in the annual report by the board of directors on the grounds that they consider the present share capital below the desirable proportion to the balance sheet figures, this Indicating that an increase in capital contemplated. But instead of pay ing a big dividend in order to attract jeapital in the traditional way, the directors state frankly that before ling to the capital market they out to strengthen the reserves Jsuch a degree that continuous divid-lends are assured, even when the capital is higher and through it the responsibility to the nation greater, Another prominent feature is the increased volume of credit medium business, new credits dispensed in 1983 amounting to 707,000,000 and in 1994 to 629,000,000 Marks. "The tun over of bank business, which in the previous year had declined by four per cent, increased in 1034 by nearly eight per cent, although the interest earned declined from 76,000,000 10932 and 66,000,000 in 1933'to 62,600,- }000 in 1984, showing that the position of the borrowers has been much jeasier—Trans-Ocean Kuo Min,
Text read from the printed page and cleaned; old type leaves the occasional error.