BANK OF NEW SOUTH WALES.

Daily Telegraph (Napier), Issue 3694, 17 May 1883, Page 4

BANK OF NEW SOUTH WALES.

The following is the sixty-fifth report of the directors of the Bank of New South Wales, presented to the half-yearly general meeting of the proprietors, held at the chief banking house on Monday, the 30th day of April, 1883:— The directors have the pleasure to submit to the proprietors a statement of the assets and liabilities of the bank on the 31st ult., with the auditors' report and declaration.

The net profits for the half-year, after deducting - rebate on current bilis, interest on deposits, providing for bad and doubtful debts, and reducing valuation of bank premises, amount to £106,419 15s Bd, to which is to be added the undivided balance from last half-year £7,G19 10h 3d, giving for distribution £114,039 Gs Id, which the directors recommend to be appropriated as follows:—To payment of dividend at the rate of 13 per cent, per annum, £73,000, to bonus at the rate of 2h per cent, per annum, £12,300; to augmentation of the reserve fund, £20,000 ; to balance carried to "profit and loss " new account, £0,339 Gs Id; total, .£111,039 Gs Id. With the above appropriation the reserve fund Avill amount to £320,000. For and on behalf of the Board of Directors. Thomas Walkke, President. The following is the statement of accounts up to March 31, 1833, including London branch to December 31, ISS'2, and Now Zealand branches to March 3, 1883 : Balance-sheet. Dr. fi s. d. To bank stock .. .. 1,000,000 0 0 ~ reserve fund .. .. 300,000 0 0 ~ notes in circulation .. 844.361 0 0 ~ bills payable .. .. 1,818,609 1 0 ~ deposits and other liabilities .. .. 12,360,233 3 11 „ profit and loss .. 117,009 1(5 10 £16,076,413 1 9 Or. £ s. d By coin and cash balance '2,891,159 12 6 ~ bullion in hand and transit to London 132,178 IS 3 ~ notes of other banks .. 13,042 0 0 ~ bank premises ~ 336,369 2 7 ~ bills receivable, bills discounted, and other debts clue to the bank 13/281,032 13 4 ~ insurance account .. 2,012 14 11 £16,676,413 1 9 Pkofit and Loss, March 31, 18S3. Dr. March, 31, 18S3. £ s. d. To rebate (at current rates) on bills discounted not due at this date.. 32,970 10 9 ~ dividend at the rate of 15 per cent, per annum 75,000 0 0 ~ bonus at the rate of 2.V per cent, per annum 12,300 0 0 ~ augmentation of the reserve fund.. .. 20,000 0 0 ~ balance carried to "profit and loss" new account,. .. 6,539 6 1 £147,009 16 10 Cr. Sept. 30, 1882. £ s. d. By amount from last account ~ .. 7,019 10 5 March 31, 1883. By balance of half-year's profits after providing for bad and doubtful debts, and including recoveries from debts previously written off as bad .. .. 139,390 0 5 £147,009 10 10 Reserve Fund, Maecii 31, 1883. Dr. March 31, 1883. £ h. d. To balance .. ~ 320,000 0 0 £-520,000 0 0

Cr. Sept. 30, ISS2. £ s. d. By balance .. .. 300,000 0 0 March 31, ISS3. 15 v amount from profit J and loss .. .. 20,000 0 0 £520,000 0 0 Audited, April 28, 1353. Sydvey Bubdekis, ] Auditovs . J. S. Habrisox, J