I04 



The Review of Reviews. 



July I, ia06. 



THE LONDON BANK OF^ AUSTRALIA LIMITED. 



SiibscribeJ Capital £1.276,747 10 



Paia-up 547.827 10 



Uncalled, including Reserve Liability 728,920 



BOARD OF UIRtCTORti. 



Chairman — David Finl.iyson, '-^aq. 

 Uavid Quiiano flenriqaes. Esq Sir James Francis Garrick, K.O.M.G , K.C. 



Eight Hon. Sir Walter Foster, M.P. Robert Rome. Esq. 



Andrew Cunningham, Esq. 

 George Miller, J^^sq. 



DIRECTORS' REPORT. 

 Presented at the Ordinary General Meeting of the Proprietors, lield at Winchester Honse. Old Broad-street, at 12 



o'clock noon on Monday, 14th May, 1%6. 

 The Directors present their report, accompanied as nsaal by audited Accounts, tor the year ended 31st December last. 

 The Proiita as shown by the Annual Statement o£ Profit and Loss after deducting management 



charges and taxes, amount to £85.781 8 7 



To which is added the amount brought forward 11.561 11 2 



£97,342 19 9 

 After i»roTiding for the interest at 4J per cent, on the transferable deposit receipts for the year 

 1905, amounting to 62,587 9 8 



There remr,ins a credit balance to be dealt with of £34,755 10 1 



Out of which the Directors recommend ; — 

 That the Dividend of 5^ per cent, on the preference shares be paid for the year 



ended 51st December, 1905 £9.456 3 



That a Dividend of 2J per cent, on the ordinary shares he declared for the same period ... 9.192 13 9 



18.648 16 9 



That the Balance be carried forward to next acconnt £16,106 13 4 



Australia has had another good year with an abundant liarvest and a largely increased production of wool. 

 The price of wool has been more than maintained. Eecentl.v rain has fallen abundantly in almost every district, 

 and prospects are favourable for another good season. Money, in conseqi ence of the large sums received for crops 

 and the wool clip, is very plentiful, and rates are low, which for the present is not favourable to banking profits. 

 In pursuance of the Directors' policy to pay off the Transferable Deposits as soon as practicable, another 10 per cent, 

 instalment, amounting with interest to £320,000. was prepaid on the 1st inst., now leaving onl.v the instalment dne 1917 

 to le dealt with. During the year Branches and Agencies have been opened at Casino, Coraki. and 'Woodhurn South, in 

 New South 'Wales, and at Framlingham, Koo-wee-rup, Purnim. and Yea. in 'Victoria. The branch at Wilcannia, New 

 South Wales, hr.3 been closed. The Director retiring under the provisions of the Bank's Articles of Association is 

 Mr. Robert Rome, wlio being eligible offers himself for re-election. The Bank's Auditors. Messrs. Price, Waterhoase. 

 and Co., also retire, and again offer themselves for re-electicn. Warrants for the dividends, less income tax. will 

 be issued, payable on and after 17th May, to those shareholders whoso names appeared on the Register on 30th nit. 



By Order of the Board, 



2 Old Broad-street. London, 3rd May. 1906. F. J. CURTIS, Secretary. 



BALnNeE'SHEET. 31st December. I9C5. 



LIABILITIES. ASSETS. 



Capital— Coin, bullion, cash balances, and notes of 



49.1 3 ordinary shares of £22 10s. • other banks £901.130 10 4 



each £1,104.817 10 I Money at call and short notice in London ... 35,000 



Less — Investments, including those held against note 



Uncalled and reserve liability. issue, and bills receivable 658,466 15 9 



£736,545; calls in arrears, £565 737,110 Bills discounted, advances, and other assets of 



— the bank 3.522,296 10 5 



Add— £367,707 10 Bank premises 383,187 



Amount prepaid by trustees in 

 respect of uncalled capital and 



reserve liability 8,190 



£375,897 10 



17.193 5J per cent, cumulative pre- 

 ference shares of £10 each fullv 

 paid 171.930 



£547,827 10 



Transferable deposits due 1911 and 1917 1,258.090 7 



Other deposits and current accounts 2.955.600 8 4 



Bills payable and other liabilities (including 



reserves for doubtful debts) 667.663 1 1 



Notes in circulation 1C6.144 



Balance of undivided profit 34.755 10 1 



£5.550,080 16 6 £5.550,080 16 6 



PROFIT HNO LOSS HfieOUNT for the Year Ending 31st December, 19C5. 



To salaries and general exi^enses in Australia 

 — including remu*ierat!on to local Directors, 

 rent, rates, repairs, stationery, travelling, 

 etc 



To salaries and general expenses in London — 

 including Directors' and Auditors' fees, rent, 

 repairs, stationer.v. telegrams, etc 



To land tax and tax on note issue 



To interest at 4J per cent, on transferable de- 

 posit receipts for the year 1906 



£61.856 6 4 



9.379 17 

 2.389 10 



62.587 9 



To balance of undivided' profit 34.755 10 



£170,968 13 6 



E.y balance as per last report 

 Less dividend for year ended 31st December 

 1904— 



On preference sliares £9.456 3 



On ordinary shares 9,192 6 3 



£30,210 5 



18,648 9 3 



£11.561 U 2 

 By profits in London and in Australia after 

 providing for interest due and accrued on 

 current deposits, deducting rebate on bills, 

 and making provision for bad and doubtful 

 debts 159.407 2 4 



£170.968 13 6 



[Coutiuttcd on lu-xt fat^e 



