BANKING IN AUSTRALIA.
At first sight the fact that the profits of the Commercial Bank of Australia for the year ending June 80th last show practically no change at 1389,841 seems to suggest that the Bank has entirely escaped the effect of the general depression in Australia. It has, however, to be remembered that during the year the share capital was substantially increased, and the maintenance of the fifteen per cent, dividend requires 1223,437 in place of £160,932. In view, however, of the sound and conservative policy which has always characterized the Bank, the maintenance of the previous dividend may be regarded as justified, especially as the remaining balance still permits of an addition of 122,851 to the Reserve and £20,000 to reduction of premises. Further, the Reserve has been increased by £237,149 from premium on the new issue of capital, and the Reserve Fund now stands at 12,160,000.
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