BANK OF NEW ZEALAND.

Press, Volume L, Issue 14985, 4 June 1914, Page 9

BANK OF NEW ZEALAND.

';:Y'«— —♦ £ ANNUAL REPORT. I £358,490. . (FRISa A9BOCUTIOJ* TEIJ-GIUM.) WELLINGTON, June 3. Tb<-Y annual" report of the Bank of Ncn Zeaxaaa -ftatea that tho profit-, alter providing for the expenses of management, oad and doubtiul coots, ] ;[ etc, are £&>S,-90 13s Bd. from tnis $\ has to bo deaucted interest on guaran- / teed stock £40,000, leaving £0-t.,-Vi) ' ~ 13. Bd. Of this sum the directore have al- * located in reduction of oank promises and furniture account r.0,-00, leaving _ a balance of proat for tiie year ot 430_,_«h. 13s Bd, to which has to be aaded tho balance brought forward „ irom last year £43,117 los 2d, making >' in all £351,603 8s lOd. From this has been paid an interim dividend at 6 per cent, on preference shares i£30,000) and an interim divi--1 dend on ordinary shares (£30,000). There is left available for distribution £201,603 8s lOd. This tho directors propose should be disposed of as folh~\:— -~- Dmdend at the rate of 4 per per cent, on preference shares ... ... £-20,000 4>-Vjdend at tho rato of 6 per *" on ordinary shares ... £30,000 _ Bonus at the rate of 3 per gv cent on ordinary shores £15,000 £ Transfer to reserve fond £175,000 *- Making the reserve fund £1,550,000 Balance to be carried forward of ... £51,603 8s lOd During tbo year branches have been opened at Kaitaia, Kohukohu, Murchison, Whakatano, and tho agencies of Oxford and Shannon have been made daily branches. Tho branch at Ophir is no longer open daily, bnt is visited i j, l * 511 Alexandra twice weekly. Agencies nave been ot>«>tip<] a * Awanni, Frankton Jnncton, Tl'ifcninia, Katikati, KJbikibi, - batata. Panearoa, Papnkura, Shortland Three Lanifs, Pon.onby (Auckland), Tokomaru ..id Wavkwor+b. and +?e agencies at Karanahako and Te aaraka have been closed.