BANK OF NEW ZEALAND

Auckland Star, Volume II, Issue 403, 26 April 1871, Page 2

BANK OF NEW ZEALAND

HALF-YEARLY MEETING!-.

Tub half-yearly general meeting of the proprietors of the Bank of New Zealand was held-to-day, at the Banking-house, the President (Thomas Russell, Esq.) occupying tli9 chair. The following report was submitted to the meeting:— NINETEENTH REPORT OF THE DIRECTORS OF : THE BANK OF NEW ZEALAND. To the halPyearly general meeting of the proprietors, held at the banking-house, Auckland, on Wednesday, the 26th day of April, 1871. The operations of the past half-year enable the Directors again to meet the shareholders with a favorable report. £ s c j The net profit at 31st March, including £30,000 premium on the new issue of Shares, after making due provision for every bad or doubtful dependency, and for appropriation in reduction of bank premises and ,;'.furniture accounts,

The dividend and bonus will be payable at head office, Auckland, to-morrow, the 27th April, and at branches on receipt of advice. For tlje Board of Directors. Thomas Russell, President.

AGGREGATE BALANCE-SHEET OF THE BANK OF NEW ZEALAND. At 31st March, 1871, including London Office Balances at 31 st December, 1870.

Audited J James Farmer, AUUitea .. .. - (S BaOWNINfI The President moved, and the Hon. Charles John Taylor seconded, the adoption of the report, which, having been put to the meeting, was carried unanimously. A cordial vote of thanks to the directors and officers of the Bank having been proposed by Mr. P. Dionan, and seconded by Mr. Allan K. Tayloe, was carried nem. con.

o which has been added— lalance of undivided profit at 30th Sept 1870 ., 7,745 n 7 riving a balance for division of ,, 82,389 1 10 'he following appropriation of which is now recommended— £ s. fl. 'o addition of Reserve Fund 30,000 6 6 !o payment of dividend, at the rate of 10 per cent, per annum 30,000 0 0 'o bonus of 5s per share, equali»_5 per cent, per annum 15,000 0 0 'o balance carried to profit and loss " new Account 7,389 1 10 ,: ' ffip 82,389 1 10

BankStBck 600,000 0 0 lteserve Fund 150,000 0 0 Notes in Circulation 280,443 10 0 Bills in Circulation .. .. .. 888,716 14 4 Deposits and other liabilities ... .. l,700,5S2 1 4 £alano»of profit and loss account at pa^Oth September, 1870 .. .. 7,743 11 7 IS Tet Profit for half-year .. .. 74,043 10 3 £3,708,131 7 6 Or. £ s. dCoin, and Cash Balances at London Bankers 381,704 1 2 Bullion in hand and in transitu .. 573.5S0 11 8 Government Securities .. .. .. 204,400 0 0 ;S otes-and Bills of other Banks .. 2,770 0 0 Landed Property .. .. .. 22,2S(i 8 4 Bank Premises, Furniture, and Stationery 83,250 IS 1 Insurance Account .. .. .. 5,012 10 4 Bills receivable, Bills discounted, and other debts due to the Bank .. 2,404,445 11 11 £3,708,131 7 0 I'KOFIT AND LOSS ACCOUNT. Dr. £ s. d. To addition to Reserve Fvind .. 30,000 0 0 Dividend at the rate of 10 per cent, per annum .. ., "0,000 0 0 Bonus of fn. per share .. .. 15,000 0 0 Balance carried to profit and loss ">.'ew Account" .. .. 7,389 1 10 .€82,389 1 10 £ s. d. By Balance of Profit at 30th September, 1870 7,745 11 7 Net 1'roflt for half-year, after writing off bad debts .. .. 74,043 10 3 £82,3S9 1 10 RESERVE FUND. £ S. d. ToJ^alanc* 1S0.000 0 0 180,000 0 0 By Balance from last statement .. 150,000 0 0 By amount trasferred from profits of past half-year 30,000 0 0 £180,000 0 0