30 MARCH 1929, Page 44

MERCANTILE BANK OF INDIA.

The latest Annual Report of the Mercantile Bank of India shows great steadiness as regards profits, the total for last year of £250,201 showing merely a trifling shrinkage compared with the previous year. The Directors maintain the dividend at the usual rate of 16 per cent. upon the " A," " B," and " C " shares, while £30,000 is again placed to Reserve, raising it to £1,450,000. A sum of £15,000 is set aside to Pension Fund, and £40,000 written off Premises Accbunt. Indications are apparent in the balance sheet of the dearer money rates in India, and the Deposits show a small decline, while on the other hand there is a slight advance under the head of Loans.

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