Commercial.

Evening Star, Issue 4268, 31 October 1876, Page 3

Commercial.

The amount of revenue received at the Customhouse on (foods cleared for consumption this day *as L66713s 3d. „ , 3 The shareholders in the Bank of New Zealand have every reason to be satisfied with the report of the thirtieth half-yearly meeting, which we publish below. The following extracts show that from comparatively small beginnings the business of the institution has now grown to very largo proportions: The total sum for distribution amongst the shareholders was L 63,077 9s lid, of which L 54.308 19a 3d was the amount of net profit for the half-year ending the 30th September. A dividend at the rate of 10 per cent, per annum upon the capital of the company was declared, and a bonus of 5s per share, equal to 5 per cent., thus making practically a 15 per cent, dividend. This dividend absorbed L 52.500 of tho available sum, and the balance of L 8.634 19s Ud was carried forward to the account for the current half-year. BANK OF NEW ZEALAND. The half-yearly general meeting of the Bank of New Zealand was held yesterday, at noon, in the ban wing-house, Queen street. There was a large attendance of shareholders. Dr Campbell, the president of fchP Bank, having taken the chair, called .uponMr Joba Murray (whs was acting for tho Inspector) to read the advertisement calling the meeting. The saui® gentleman then read the minutes of the last general meeting' and special general meeting, held on the 21st April last. —These were duly confirmed. Mr Mubbat then read thtf following report (the thirtieth! and balance-sheet The Directors have pleasure in presenting to shareholders another half-yearly report of the usual satisfactory character. The net profit at 30th September, after making very full appropriations for all dependencies considered bad or doubtful, and for reduction of Bank premises and form-

The Chaiemah, in moving the adoption of the report, said; 1 have on the present occasion, in moving the adoption of the report which has jnst been read, only to record the continued prosperity of the buik, a fact borne out by the balance-sheet now laid before yon. The figures exhibit a gratifying increase of business; and that the increase should be most marked in the bank's resources, and its cash .balances, must be at the present juncture especially satisfactory to shareholders. Nothing » importance bearing on the interests of the bank has arisen during the past half Tear. The demand for new agencies in the out-districts proves the constautly-iuci easing character of our business along with the development of the Colony. As was anticipated, our tender for the Government account was accepted, and now, having the whole Government cosiness, enables us to transact it at rates which aie favorable to the Government,-as compared with some of the neighboring colonies. The transfer of th* Fiji Bank to rhis establishment has also been completed since the last meeting of shareholders. I then stated that your directors looked to future benefit, atod not to immediate results, aud, although that colony has been suffering from commercial depression, consequent upon the transition state of its industries to new branches of production, your directors nevertheless remain satisfied that the bank’s prospects there j'ustify the policy of occupy, mg the field. I beg to move the adoption of the report and balance-sheet.

Air C. J. Stone seconded the adoption of the report, and it was unanimously agreed to. The Chaihman thsn said that the next business before the meeting was th* election of three directors to .vacancies at the Board, two caused by absence and rotation, and one by the death of Mr j 1 i* . Wi,Bo . n » whose connection with the bank dated from its foundation, and who fer so many years was a valuable acquisition at the councils of the Board. There were only three candidates, Messrs Alfred Cox and James Watt, and the Hon James Williamson, who would therefore become the newdirector»accordlng to the deed of settlement, and fill the vacancies in the order of their names. It next devolved upon the meeting to elect two auditors, Mr G. P. Pierce, in order of seniority, being ineligible.' Dr Eixis moved, and Mi Peime seconded, " Thnt Messrs A. K. Taylor and C. J. Stone be auditors for the current year."—The motion was unanimously agreed to.

Mr B. Tones, M.H.R., moved " That a hearty v o f e of thanks be given to the directors and officers pfthe bank. Looking at the depressed state of business, not merely in Auckland, but he might say all over the world, and the exceedingly low price that is now ruling for money, a large amount °r e !-' nmst havo been displayed by the officers of the bank in jrder to enable them to place before the shareholders so satisftctory a report, and that too in the face of keen competition from the oth->r banking establishments of New Zealand. He trusted, that on thnt occasion the vote of thanks would not he . nssed as a mere formal niafctor, but ns the hearty expression of the feeling of the shareholders. Mr T. Hill seconded the motion, and it was unanimously agreed to. The Chairman returred thanks on behalf of the directors, and Mr Mueeat on behalf of the officers ortJiebank; after which the meeting separated.— Southern Cross,' October 21.

tore accounts, amounts to £54.300 19 3 To which has to he added— Premium on issue of 384 shares re- - served as per last report for nonresidents 1,920 0 0 Balance of undivided profit at the 31st March, 1876 6,848 10 8 Giving a totil available for division of £63,077 9 11 The following appropriation of which is new recommended: — To payment of dividend at the rate of 10 per cent, per annum 35.000 0 0 To bonus of 5s per share, equal to 5 per cent, per annum ... 17.500 0 0 To interest reserved for Fiji Bank shareholders 1.942 10 0 To balance carried to profit and loss new account 8,634 19 11 £63.077 9 11 The dividend and bonus will he payable at the Head Office, Auckland, on Monday, the 28rd October, and at the Branches on receipt of advice. For the Board of Directors. J. Logan Campbell, President. AGGREGATE BALANCE SHEET OF THE BAKE OF NEW ZEALAND At September 30tb, 1876, including London Office at July 31st, 1876. 'Ds. £ s. d. Bank stock 700,000 0 0 Beeerve fund 250,000 0 0 Notes in circulation 423.850 0 0 Bills payable in circulation 1.254.931 17 3 Deposits and other liabilities ... 5.005.050 15 11 Balance of profit and loss at March 31st, 1876 ... 6.848 10 8 N it profit for half-year £54,308 19 3 Premium on hew shares £1,920 0 0 56,228 19 3 £7,696,910 3 1 Cr. £ 8. d. Coin and cash balances 1.214.170 1 7 Bullion on band and in transitu ... 316,686 4 3 Government securities 872,000 0 0 Landed property, bank premises. furiitura, &o 3 3 Bills receivable, and securities in London... 1.397.075 10 9 Buis discounted and ether debts due to the Bank 4,376,585 8 3 £7,696,910 3 1 FROFIT'AND LOSS ACCOUNT. B. d. dS To dividend at the rate of 10 per cent. per annum 35,000 0 0 To bonus of 5s per share 17,500 0 0 To interest reserved for Fiii Bank shareholders 1.942 ifl 0 To balance carried to profit and loss new acconnt 8,634 19 11 „ . , £63,077 9 11 By balance of,profit and loss at Sod* tember 30,1876 ... £54.308 19 3 By premiums on new. shares 1.920 0 0 By balance from last half-year 6,848 10 8 £63,077 9 11 RESERVE FUND. ™ £ B, d. To balance ... 250,000 0 0 By balance from last statement ... 260,000 0 0