Further expansion has been achieved by Thos. Cook and Son (Pankers) during the past year, in face of the exceptional conditions prevailing throughout the world, states the "Financial Times." Deposits of this well-known private bank have advanced by £454,000, or more than 11 per cent, to £4,470,000. The tradition of liquidity which has always been a characteristic of the balance-sheet is fully maintained. Liabilities on current, deposit and other accounts are covered by cash and short-term loans to the extent of nearly 83 per cent. Moreover, a larger sum is represented by interest-bearing deposits with other banks, amounting to £2,688,000, or £735,000 more.
Investments amount to £641,000 and are taken, as usual, at or below market values, As much as £529,100 is represented by British Government securities and £66,100 by Indian and Dominion Government securities. Paid-up capital of £125,000 is equalled by the published reserve fund, but substantial hidden reserves make the position even stronger than appears on the surface.
CE
Text read from the printed page and cleaned; old type leaves the occasional error.