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APRIL FESTIVAL:

WILL BE 2.000 IN TIME.} i…

HANDEL TO ELGAR.

" OH, YOU BRUTE!'I o i

.HUNDRED NEW MEMBERS.

TO COMPLETE THE CORNER.

" RUTS AND RIDGES." I

HOWITZERS' uHOP." I

--I LAST OF THE TRIPLETS.I

I 'SCANDALOUS PROCEEDINGS.'I…

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[ "SUBSTANTIAL PROFIT."] I-

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[ "SUBSTANTIAL PROFIT. ] METROPOLITAN BANK: ANNUAL MEETING. I Lord Glantawe and the Work of the Staff. The forty-eighth ordinary meeting of the Metropolitan Bank of England and Wales took place in Birmingham. Mr. F. W. Nash (chairman and managing director) presided, and moved the adoption of the report and balance-sheet, and referred ap- preciatively to the services of Mr. W. E. Warden, who had resigned. The balance- sheet contained the results of a year distin- guished by much political and commercial j unrest and demand for money. He added: Upon the London market in particular the demands have been heavy, so heavy that at one time there was room for apprehension that should a COMBINATION OF UNFAVOURABLE CIRCUMSTANCES occur the banking world might have to deal with something approaching panic condi- tions. Such a result was, however, avoided by the prudence and foresight of those re- sponsible for the control of the markets; the Bank of England reserve was main- tained at a high figure; money was always available at a price and the year closed without untoward incident.. Ihe results shown by the balance-sheet will, I hope, be entirely satisfactory to the shareholders, and with your permission I will proce-cd to refer to them in-detail. If you will tunn to the first item on the liabili- I ties side you will see that we are due to the public in a sum of £11,761,265, which is nearly JSl.COO.OOO more than at. the close of  to be exact £ S68,454. This is entirely owing to Lhc expansion of the business, and is a larger increase than we have ever he- lore experienced in a single year. It is equal to about 8 per cent. A very satisfactory in- crease is also shown in the number of cus- tomers on our books. Increased liabilities of course imply increased assets, and if you turn to the other side of the account you will see that the cash in hand and at Bank and at call and short notice are both sub- stantially higher, so that our holding of cash is a bout half a million greater, and our liquid assets, including our bills of exchange, which comprise a large proportion of Balik. bills of the highest class, are L5,732,429, which is ici the prnportion of 48.7 to our deposits. Our advances to customers, L6,6,9425, are only C43,(M larger than a year ago. This compares with a consider- ably higher ratio of expansion during several previous periods, and is an indication of a falling ofl ir; trade, which will no doubt attract your attention. Tou will perceive that our total figures ] now closely approximate to thirteen mil- lions. Now permit me to refer to the Profit i and Loss Account. I have intimated that o un PROFIT FOR THE YEAR reached larger figures ihan those for 1912, I which was our nest best, but it is a true saying that you cannot have the same thing both ways, and the same causes which swelled the profit's have also operated in another direction and have depreciated our investments. The consequence (was that, whilst our Board had a larger balance of profit to deal with, they were confronted with a further fall in the market values of your investments amounting to nearly -270,000, to be exact je63,500, which is largely in excess of any figures we have had to deal with hitherto. As we have always followed the safe plan of includi.A the in- vestments in the balance sheet at the mar- ket prices (but never abovo cost), the differ- ence had to he provided. Your Board decided to transfer £ 70,000 from the Guar- antee Fund to the Suspense Account for Depreciation and to utilise the increased profits, the exceptional character of which I beg the shareholders will not lose sight of, in strengthening our private reserves and our carry forward. We therefore only show you a profit of approximately the same amount as last year, namely. £128,493 If. ad., and we add P,40,685 to the un- divided profits, raising the amount carried forward to £ 50,982 8s. 9d. We thus start the current year under iavourable auspices and with a substantial reserve of profit in hand, and if at the end of the year we should experience further depreciation—which I cordially hope will not be the case-we have the means to meet it. The resolution adopting the report was carried unanimously, and Messrs. Turquand, Youngs and Co. re-appointed auditors. LORD GLANTAWE. The deputy chairman (Lord Glantawe) moved a vote of thanks to the general mana- geT and the other officers of the bank for their zealous attention to the interests of the company, remarking that the manager's power of organisation made him eminently fitted for the post. The vote was carried unanimously, and the manager suitably re- sponded.

"UP TO STANDARD."

WAS IT A HOAX?I

DANISH STEAMER FOR SWANSEAI…

P,15,000 LLANELLY SCHOOL PROJECT,

THE LOST LICENSES. ii ' ,…

NEW SWANSEA " HEADS."

- - - - -GIFTS AT "THE GUARDIANS."…

NEWTON CHAPEL COMPETITIVEI'…

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WORSE THAN PARIS, .100

I HIS LAST HOURS.

! INCOME TAX DISGORGED.

CREW SAFE. |

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" STOP-TAP P" ———

i EVAN ROBERTS' MOTHER DEAD.…