BANK OF NEW ZEALAND

Dominion, Volume 5, Issue 1460, 7 June 1912, Page 4

BANK OF NEW ZEALAND

The balance-sheet- of the Bank .-.bfi,:] New Zealand for the year ended j March 31 last; is indeed very satis- j factory, the" r.ct profit .being a re- j. cord. Taking the figures." for the |' past four years, the net profits, after deducting interest on guaranteed stock, show .as under: — Year ended Maxell 31. .C s. d. 1909 328,150 13 11 1910 271,35: i 15 .0 11)11 315,'270:19 i). ' 1912 5 11 ■; 1,273,9.a 13 10 Brought forward 51','0?7 19 7' 1,3i5,057 13 5The earning?. .Jijowetf of. the bank has ; been well maintained, and the last year shows the best, record. The above total of £1,:!25,057 iid. has been allocated as- under i s, d. Added to reserve f.iilid ..,, y . KO.OQO 0 0' Dividend on ordiiiai:y-.shares 275i000 0 'O: : Dividend on preference ~, .187,500 0 0 Written off-.-pre'inises 75,ii0.0 (i 0 Carried forward. -10.-557 1.3' 5 . - , .£1,:12?,057 Ki S In the four .years., the. reserve fund has been raised from iMo0;000. to £1,200,000, and a secret reserve is being built up under cover of writing off bank preniises aoeounl. Tlio- liabilities and assets' of. the. p'as't, twd'. years compare as under ;■<-* 1.912. 1911. : Liabilities—. £■ £ Guaranteed .Stock 1,0.09:000' 1,000,000 Preference shares 500,000 5.00,000. Ordinary shares 500;00fl: SOO.OCO Deserve fund I.UOO.MU! 800,000; Circulation ■" I,O3O,'JIUi . 977,2(0 Deposits -15/833;.8Y>7 17 : iS'Sfj,7-iq; Hills payable, etc. ... 1,"3117,183 1,13f1.»21 Balance profit 305;5.5S- 299,105 Assets— ■ Coin and cas'u-'lirtlft"n'ce 2,-900,097' . 3-,-248,290 Bullion 201.1 m 121.512 Call money (l.cndon.i ;;,31G,1i;0 C,710,2'i9 Bills receivable' (London) 2,lfiii.2Go 2,294,022 Investments' iii; Colonies 1,205.2 tS ! ,335.010 Assets lle-alisatioii assets - 13«,3.W 2!:i,35l Bills discoiiiited' ' 1.221.0T5 1.111,1i3il Advances it,Kii7.74S 7,938,115 Landed property 420>538 42.3,739 In the above comparison .fivers are. two or three items that call for remark. The deposits have -decreased by about two millions, while on the other band llie -.advances have increased by almost the same amount. In the lliree pveviciu:-; years the advances nevef reached: eign't iiiiil-iom; sterling, and I his jump of nearly two millioii.s itee.dV exiil.nnai.ioii. Itwould ajipear thai, advances have been made- i-ariier fre'elv during the past, twelve months, and now .'it is. not tin likely, witli the _ mrinCiary stringency prevailiiiK. til.ai; overdrafts are being e.illed in. or rediii t-ions insir-ted upon. The "inount iield in London ' hat. been. re.iljm.o;d from £0,004,561 to and

{In- coin and' cash. balances. which stood at- last year. now u'ljivDirVit to Nu (loulil j/hi?: C-irairma'ii in Ms speech to the Biiji-m-. ■hai'dcis. will explain these movements, and in ths; meanwhile we, niay congratulate tlie proprietors un the sound position csec.upi.ed by the ■ bank, . . |