The South African Mining Journal, Vol. 26: With Which Is Incorporated the South African Mines, Commerce and Industries; Part I, No. 1321; Jan. 20, 1917 (Classic Reprint)
The South African Mining Journal, Vol. 26: With Which Is Incorporated the South African Mines, Commerce and Industries; Part I, No. 1321; Jan. 20, 1917 (Classic Reprint)
Excerpt from The South African Mining Journal, Vol. 26: With Which Is Incorporated the South African Mines, Commerce and Industries; Part I., No. 1324, Feb. 10, 1917 The forty-seventh ordinary general meeting was held on January 4. At Salis bury House, London Wall, e.c., the Right Hon. The Earl of Selborne, k.g. (the chairman). Presiding. The Chairman, ih moving the adoption of the report and accounts, said: If you 'will look at theliabilities side, the capital remains at The reserve is or up. Note circula tion is or ...
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Excerpt from The South African Mining Journal, Vol. 26: With Which Is Incorporated the South African Mines, Commerce and Industries; Part I., No. 1324, Feb. 10, 1917 The forty-seventh ordinary general meeting was held on January 4. At Salis bury House, London Wall, e.c., the Right Hon. The Earl of Selborne, k.g. (the chairman). Presiding. The Chairman, ih moving the adoption of the report and accounts, said: If you 'will look at theliabilities side, the capital remains at The reserve is or up. Note circula tion is or rather less than last year. Deposits are and show an increase of Drafts issued are an increase of Acceptances, endorsements, etc., are an increase of and there is a contra account showing the same on the other side. If you will now look at, _the assets side you will see the cash is. Or down. Securities, which have all been written down to and are taken in at the Stock Exchange prices ruling at the date of our balance sheet, are or less than in the last statement. Bills of exchange, are also down, being some less than the previous amount, but bills discounted and ad vances at are considerably higher - by Bank premises fur niture, and stamps stand at ls. 2d. The total figures are 6s. 7d., or 10s. 3d. Higher than in the last balance sheet, thus showing a satisfactory increase of business for the year. It will be evident to you that in meeting the increased demands of our cus tomers we have been able more fully to employ our resources. Nevertheless, the liquid position of the bank has been well maintained. In cash, securities and bills of exchange - which are always maturing from day to day - we have a sum of which is just about 60 per cent. Of 'our deposits on the other side. We present, therefore, a strong position. The profits, including brought into the accounts from last year, and after deducting interest on deposits, providing for South African and English income tax, making ample provision for bad and doubtful debts, paying a bonus to the staff, and writing down all securities to the market price of the day, are I think you will agree with me that this is a satisfactory result, which does credit to our general manager in South Africa and to the staff generally. On the debit side charges are 8s. 1d., or about more than last year. The in crease is caused by the expense of open ing branches at Stutterheim and Welling ton, and by the natural growth of a bank seeking to extend its operations. Rebate on bills is the interim dividend was the reserve fund receives and, after the usual apportion ments for staff fund and depreciation of furniture, there is a balance of 135. 6d. We propose to pay as a final dividend, at the rate of 7 per cent. Per annum. Making 6% per cent, for the year, subject to deduction of income tax, and to carry forward 13s. 6d. To next year's account. Mr. Robert Little john (deputy-chairman) seconded the reso lution', -which was carried unanimously. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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All Editions of The South African Mining Journal, Vol. 26: With Which Is Incorporated the South African Mines, Commerce and Industries; Part I, No. 1321; Jan. 20, 1917 (Classic Reprint)
