BANK OF NEW ZEALAND.

Auckland Star, Volume II, Issue 563, 30 October 1871, Page 2

BANK OF NEW ZEALAND.

HALF-YEARLY MEETING-;

The half-yearly general meeting of the pro- . prietors of the Bank of Mew Zea'and was held to-day, at the Banking-house —the President, Thomas Russell, Esq., occupying the chair.—The following report was submitted to the meeting : — Twentieth report of the directors of the Bank of New Zealand, to the half-yearly general meetiug of the proprietors, held at the Banking-house, Auckland, on Monday, tho 30th day of October, 1871. The directors have much satisfaction in placing before shareholders the result of the Bank's operations for the past half-year. ,L S. (li The net profit at 30th September, after making provision for every dependency known to be bad or doubtful, and for appropriations in reduction of Bank premises and furniture accounts, amounts to .. .. •• 40,215 11 10 To which has to be added—Balance of undivided protit at 31st March .. 7,359 1 10 Giving a balance, available for division, of 7. .. 52,004 13 3 The following appropriation of which is now recoramended:— i £ s.d. i To payment of dividend at rate of 10 per cent per annum 50,000 0 0 To bonus of 5s per share, equal to £5 ' per cent, per annum .. .. • • 15,000 0 0 To balance carried to profit and loss , new account • •• 7,004 13 8 < 52,004 13 8 i The dividend and bonus will be payable at head j office, Auckland, to-morrow, the 31st October, and nt branches on receipt of advice. For the Board of Directors, i Thomas Bunsetx. President. I Aggregate Balanob-sheht of thk Bank of New | Z EALAND, At 30th September, 1871, including London omco balances at 30ta June, 1871. ■ Dr. £ s. a. I Bank .stock .. .. .. ' ..* .. 600,000 0 0 Reserve fund 18°.000 ° ° Notes in circulation 300,671 0 0 Bills in circulation 910,983 14 10 Deposits and other liabilities .. .. 2,593,070 17 5 Balance of profit and loss account, at 31st March, 1871 7.339 1 10 Net protit for half-year 45.215 1110 £4,043,339 5 11 Or. Coin and cash balances .. .. • ■ 603,017 18 4 Bullion on hand and in transits .. 093,233 4 2 Government securities 230,000 0 0 Not-js and bills of other Banks.:' •• 1,001 0 0 Lauded property 22,280 8 i Bank premises, furniture and stationery 79,808 7 3 Insurance account 0,03'J 2 11 Bills receivable, bills discounted, and other debts duo to the Bunk.. .. 3,047,420 4 11 £4,043,339 5 11 Profit and Loss Account. Dr. 'Co dividend at rate of 10 per cent. p?r annum .. 30,000 0 0 To bonus of 5s per share, equal to 5 per cent, per annum 15,000 0 0 To b&lauco carried to profit and loss "New Account" 7,004 lo 8 £52,004 13 8 By balance of profit at 31st March, 1871 7,339 110 By net p.ofic for half-year, after writing olf bad debts 45,215 11 10 £52,004 13 8 Reserve Fund. To balance 180,000 0 0 £180,000 0 0 By balance from last statement .. 180,000 0 0 £ISu,U.jO O 0 a ,riu^i ( Samuel Browni.no, Audited- <Wm ik Nes Taylor. —The President, in moving the adoption of the roport, remarked on the satisfactory character of the figures contained in it, which, he was dad to say, called for neither explanation nor apology from him. .\lr. Q-. B. Given seconded ilie adoption of the report, which was carried unanimously.—The election of two directors in tho room of Mr. Jiimea "Williamson, resigned, and Mr. (J. J. Stone, who retires by rotation, being the nest business before the meeting, and Messrs. James Farmer and Samuel Browning being the only candidates, tho Chairman, with the unanimous consent of the meeting, declared Messrs. Farmer and Browning duly elected. — In rojin of Slessra. Farmer and Browning, who hud resigned their appointment as| j auditor*, it was moved by Mr. David While, seconded by Mr. K. Somervell, and carried, '•That Mr. W. J. Taylor and the retiring director (Mr. C. J. Stone), be appointed auditors." A cordial vote of thanks to Iho dire-tors and oflicers having been proposed by Mr. David Burn, and seconded by 11. J. Hawkins, was carried item. con.