General Abstract January 1886

This General Abstract for the Commercial Bank of South Australia lists total liabilities of £685,119 including deposits of £608,631 and total assets of £1,330,885 including debtors of £1,194,819. The Bank also reports £400,000 in paid-up capital and reserved profits of £86,500. The report is signed by Alex. Crooks, Manager and Alex. M. Wilson, Accountant, 29th January 1886.

Also documented in the General Abstract is that Alexander Crooks swore an oath before James Counsell, Justice of the Peace, on 29th January 1886 that the "foregoing abstract is a true and faithful account" kept in accordance with "the provisions of the Acts of the Parliament, No. 25 of 1863 and No. 5 of 1875".

Purpose

This General Abstract is published in The South Australian Government Gazette as a "true and faithful account of the average amount of the assets and liabilities" of the Commercial Bank of South Australia "during the period specified; and that the same was made up of the weekly statements" of the Bank "kept in pursuance of the provisions of the Acts of the Parliament, No. 25 of 1863 and No. 5 of 1875".

Document Structure

References

This General Abstract references two Acts of the Parliament of South Australia, the Banking Companies Act 1863 No. 25 and the later 1875 Act that amended the Banking Companies Act.

Historical Details

Legacy

This General Abstract was the last one submitted to the Parliament of South Australia before the Board of Directors closed the bank's doors and stopped trading on Wednesday 24th February 1886. The information required by the Banking Companies Act 1863 No. 25 was insufficient to highlight the amount of unsecured loans in the Commercial Bank of South Australia's portfolio.

Read the Document

General Abstract January 1886

The South Australian Government Gazette, Adelaide, Thursday, February 4, 1886, page 266

Close

Type

Statement, Financial

Medium

Paper

Authoring Date

January 1886

Ratification Date

29th January 1886

Location

Commercial Bank of South Australia

Signatories (Organizations)

• Commercial Bank of South Australia