:|A Liquid Balance-Sheet Despite the exceptional circum-Sou stances of the year, including inter alia a contraction of tourism in various countries which need not be mentioned, the balance-sheet of Thos. Cook and Son (Bankers) Limited, which conducts the banking activities of the well-known travel organization, conserves its essential characteristic—a high degree of liquidity states "The Times." The current deposit and other liabilities are covered by cash and short-term loans to the extent of 73 per cent, and though this compares with a figure of 83 per cent. a year ago the reduction is accounted ior solely under the head of bank deposits at interest: the ratio of cash and money at call is up from under 23 per cent. to over 30 per cent. A fall in deposits of £448,000 still leaves them slightly above the 1936 figure. Approximately one-third of the amount released by the reduction in sums at interest at banks has been invested in gilt-edged securities and indian Treasury bills. Leading items in the last two balance-sheets are compared in the following table:
Oct. 31, Oct. 31,
Capital 125000 12500 Liabilities 1938 ° 1991
Reserve z 125,000 Zurrent, deposit, and other accounts... 4,022,180 4,469,910 Assets cash... E 540010 790,687 Remittances in transit 221,500 156,509 Money at call and short notice 250,000 300,00
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