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Grey River Argus, Volume XII, Issue 1332, 5 November 1872, Page 2

The twenty-Becond report of the directors of tho Bank of New Zealand, to the halfyearly general meeting of the proprietors, was held at Auckland, on Wednesday, the 23rd nit. The directors report that consequent on the cheapening of money and its abundance in the Colony, with the absence of an active demand for its employment, profits do not compare favorably with past half-years. They have, however, to congratulate shareholders on the maintenance of the Bank's leading position, as evidenced in the attbehod statement, and express a hope thas development of commerce will soon offer more profitable employment for the Bank's resources. The net profit at 30th Sept., after making full provision for all known bad and doubtful debts, and for usual- appropriations in reduction of Bank premises , and furniture accounts, smounts to L 38,760 2s ; to which has to be added balance of undivided profit at 31st March, 1872, L 7600 3s ; making a total available for division, of L 46.360 ss. The following appropriation of which is now recommended :— To payment of dividend at the rate of 10 per cent, per annum, L 30.00 0 .; to bonus of 2s 6d per share, equal to 2£ per cent, per annum, L 750 0; to balance carried to profit and loss new^ account, LBS6O ss; total, L 46,360 ss.