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BANKING IN SOUT/I AMERICA.
There are few parts of the world which have escaped from the prevailing conditions of depression, and in South America the area of disturbance has been a large one, being affected both by political and economic developments. Nevertheless, the report of the Bank of London and South America made up t6 September 30th last shows that the dividend was only reduced from 11 to 9 per cent., the reduction in net profit being £45,000, the total being £390,472. Moreover, the reduction in the dividend has been accompanied by the allocation of £100,000 to Contingencies Reserve. There is a reduction to note under the head of Advances. The balance- sheet is a liquid one with a high proportion of cash to deposit.% This bank is, of course, closely affiliated with Lloyds Bank, Ltd,
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