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NATIONAL CONSERVATIVEI LEAGUE.

LLOYDS BANK, LIMITED.

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LLOYDS BANK, LIMITED. A Reoord In Profit Earning Capacity. The fifty-sixth ordinary general meeting of Lloyds Bank, Limited, was held on the 4th inst., at Birmingham. The Chairman (Mr R V Vassar-Smith),. in moving the adoption of the report, said: To-day we have the satisfaction of presenting a report and statement of accounts establishing a record with regard to the profit-earning capacity of your Bank. But the year has been one of continual anxiety, owing to the uncertainty of the political situation and the stringency in the markets for money. These factors existing in the early part of the year no doubt called for a prudent policy. There has been no pronounced uneasiness, and we have had a successful and prosperous year. Never has trade, both at home and abroad, been so large, profits have been good, there has been very little unemployment, and wages have advanced. It is, however, now clear that this extraordinary activity is lessening, and we must look forward to a period of greater quietude, but I do not feel that we should fear a long time of depression. Given peace and freedom from political and labour troubles, the great and legitimate develop- ments, colonial and foreign, as well as at home, will revive activity. Falling trade appears not to be so pronounced in England as in other countries. The vast amount of credit created by this expansion of business has called renewed attention to our gold reserves, and a committee was appointed and is now considering this important ques- tion. Reasons have been advanced why gold is not attracted and kept here; and methods outlined for strengthening our position. With a great many of the argu- ments I thoroughly agree, but I certainly do not with the advocacy of a Royal Commis- sion to determine what bankers should do. From recent experience I think we may be assured that in present day necessities bankers can be relied upon to take, and will take, a proper course to maintain safety. After referring to the general conditions of trade throughout the country, the Chair- man said In these reports there has been little reference to what is the most important factor in modern history, viz., labour. This is not the place to go into causes, nor to suggest remedies, but no one can review the results of a year's trading without feeling how much better they would have been for all parties bad we had rest in the industrial world, nor can we look forward to the future without misgivings as to the course labour will be inclined to take. I may mention that our colonial and foreign business has in- creased in a most satisfactory manner. The number of offices in England and Wales is now 679, an increase during the year of 41. The staff numbers 3,507, an increase of 142, the current accounts having increased by 8,827, and the deposit accounts by 9,578. The increase in the turnover of the current accounts is L56,641,000, or 3.7 per cent. The drawback upon this comparison of im- provement has been the continual deprecia- tion of our investments during the past fifteen years, in 1913 the largest we have yet had to write off. During the past month, however, the rise in values has been consider- able, and there is strong reason to think we may have seen the worst. Much of this appreciation is, of course, due to the lower value of money, and this may in turn reduce the profits of the Bank. It will be interest- ing to you to compare the position of the Bank in 1901 with last year jfercencage 1901 1913 of increase. £ £ Current and deposit ac- counts aver- 0 age  48,285,000 88,470,000 83.2 O verdrafts, average 25,267,000 48,536,000 92.9 OScea. 315 679 1155 Capital 2,848,OdO 4.209,000 47.7 Reserve 1,950000 3,000,000 538 Premises. 1,185,010 2,205,000 86 Net profits 654,000 1,240.000 89 6 while perhaps the most satisfactory feature is that the number of our accounts has increased by 106.4 per cent. I The Chairman moved that in accordance with the recommendation of the Directors, a dividend for the half-year ended the 31st December last of 14s 6d per share, being at the rate of 181 per cent. per annum on the paid-up capital of the Company, be declared. The report was unanimously adopted, the Directors and Auditors elected, and the usual votes of thanks given to the Chairman and the staff.

I Ledbury Corn Market. I

FOOTBALL FIXTURES.I

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TEMPERANCE MISSION ATI LEDBURY.

NOT OUT OF DOORS FOR 3 YEARS.…

[Am RIGHTS RESERVED.] BIBLE…

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I ACROSS THE TAULE. 1

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