COMMERCIAL.

Hawke's Bay Times, Volume 5, Issue 266, 17 May 1865, Page 2

COMMERCIAL.

(j ~, BAJIK OjP NEW ZEALAND, , _ , , *■' tSW&Jf-jyßVniMHi* of tlie Bahk ofNWzealana was Jie’U at Auckland on the -4th uit. Tlie report and balance sheet presented to the meeting,! shows the Bank to be in a Tfay Seventh Report op the Directors op the Bask op New Zeai and. xo th b Half-Yearly Gen ebal Meeting op the I’ROFKIEXORS HELD AX THE BANKING-HOUSE, AUCKLAND, om Friday, the SStu day of. April, 1865. Tha Directors have mu4h satisfaction in again laying before the Proprietors the result ■ f another Half-year’s ppera•li 5115. Which affords: every practical evidence of the continued success of the Bank. The state of Business throughout the Colony during the last sis months, combined with the dearness of money in England, has led to increased caution throughout the Estabttthmeiit; and the Directors fire g ad to assure the Proprietors, that doubtful dependency htubeen provided for, and a margin allowed for prospective looses. It is in contemplation to initiate within tlie Bank,, On Ist January, 1463, a Guarantee and FxoVldo’dt Fund, to which the Directors recommend the hank .should now contribute £l,o'iO as a f.-e:- donation; alid that this amount be suppleSnented hereafter by further donations of £SOO each for the best three successive half-years. 1: ' : hhe net profit for the half-year ended £ e d Si st March, after providing for all debts supposed to be bad or doubt fu’, and making a liberal reduction in Bank ’ Premises- and Furainire Accounts, amounts to ... ... 50,609 15 10 TO Which is to be added tue undivided balance from last half year ... " ... 2,207 18 9 - - J- , . Making a total available far division of £52,876 14 7 ' - Cf the above profits, the Directors recommend the following appropriationTo payment of dividend at the rate bf 10 ’ per cent, per annum ... ... t ... 22,436 10 2 , ,■ To Bonus equal to 5 per cent, per annum 11,333 5 0 ’To addition to Reserve Bund ... ... 15.000 0 0 *• To Donation towards starting guarantee and provident fund ...’ t ... s - ... 1,500 0 0 To Balance' carried to Profit and Doss “ucw account.” ... 1 ... 3,091 19 5 ; £52,876 14 7 The Dividend and Bonus will be payable at the Head Office, on Monday, the Ist proximo, and at the Branches on receipt of advic-3. Tor the Board of Directors,.. 1 James Williamson, ’ President. - Balance Sheet of the Ban k of New Zealand, at the 31st March, 1363, including London Office Balances the Slst December, 1864; „ ■■ Dr. v • • Paid-up Capital ... 435,0.11 0 0 Reserve Fund lt> VH)O 0 0 Notes in circulation 297,969 0 0 Bills in circulation...- 2-><\246 1 3 Deposits ... ...1,194,656 2 1 Balance due to other Banks ... ... 85,373 3 3 Balance of Profit and toss’ Acfcoimt al * 1 30th September, 1864 2,207 18 9 Net profit for half-year • ... 5>k663 15 10 *• £2,566,114 1 7 ' Cr. ’ ■ ~ ~ “ Coin and Bullion ... 359,050 0 7 Government securities ... '350,009 0 0 Landed property, ■ ... . ... .... 17,577 710 Bank premises, furniture, ftstatimery... 3.1,500 17 3 Baiances due by other Banks 121,591 8 8 Notes cf other Banks- ... - 2,466 1 5 Bills receivable, & all other advances ...1,631,863 5 5 vi ■' ■ ;i U 'i2,b!&;u4 l t 7 Profit and Loss Account: ‘ Dr. Increase cf Reserve Fund... ... , • ...15,000 0 0 . Dividend at the rate of 10 per cent, per • •annum ... : ... ... ‘’..v ’ 22.403 lo 2 Bonus at per cent, for the half-year... 11,233 5 0 Donation towards starting Guarantee & Provident luud... ... ... 1,50) 0 0 Amount carried to profit and loss •* new account” ... . ... ... ... ... 3,691 19 5 £52,876 14 7 Cr. . . , '?? Balance of proflt atSCth September, 1864 2,207 18 9 Net profit for half-year ... ... 50,063 15 10 £32,876 14 7 v Reserve Tund.'" ■■ ■ ' ■ Dr. Balance ... ...£115,000 0 0 „ .4, > .Cr. .V' .. , „'I ' . Ea’rnoe from last statement 100,000 0 .0 1 Amount transferred from profitsm* past 1 '! * . half-year ... ... ... ... ... 15,000 0 0 £113,000 0 0 ' W. C. WnsoN, ’ ' ' ' 5 ■ G.B.OWES, J- . ■ : - . r Auditors. ■