BANK OF NEW ZEALAND.

Gisborne Times, Volume VI, Issue 153, 10 July 1901, Page 3

BANK OF NEW ZEALAND.

A GOOD REPORT. [By Telegraph—Press Ass relation.] Wellington, last night,

The balance-sheet of the Bank of New Zealand was laid on the table of the liouso this afternoon. The profit and loss account shows gross profits of .£469,291. Expenses of management, including rates and taxes, totalled X‘169,049, leaving a net profit of .£300,242. This is further reduced by the payment of .£BO,OOO interest on guaranteed stock, and £9,577 interest on preferred shares up to the date of repurchase, leaving available £210,665, which has been disposed of as follows: To extinguish the debenture conversion account, .£35,360; to extinguish the Colonial Bank good will account, .£60,000; written off the Estates Company assets, in liquidation, X'17,000 ; written oil' the Colonial Bank property premises, .£IOO,OOO ; written off Bank property, premises, and furniture, X 38,305; to be paid to the Assets Realisation Board, X'50,000. The liabilities show: Ordinary capita’ paid up by shareholders, .£421,860 : reserve fund (in N.Z. consols), .£'23,474 ; note circulation, X 770,729 ; bills payable, X 1,170,030 ; deposits, X 8,682,504 ; otjjier liabilities, X 115.910; bills re-dis-countcd in London, X 274,956. The total liabilities, including the two million guarantee and the filty thousand pounds 'balance of profit to be paid to the Assets Board, is X 13,509,464. The assets show : Coin and cash, X 1,456,119 ; bullion, .£98,010 ; money at call at short notice, bills receivable, Government and other securities in London, X 2,523,059 ; investments in the colony, X 2,507,584 (of which X 1,625,000 is in the Assets Board debentures) ; bills discounted, X 2,083,832 ; otheradvances, X 4,111, 188 ; landed property, premises, etc., .£388,762; Estates Company assets in liquidation (book value), X 295,479 : Colonial Bank property and premises, X 45,398. In the above figures shillings and pence arc omitted.