COMMERCIAL.

Hawke's Bay Times, Volume 6, Issue 322, 9 November 1865, Page 2

COMMERCIAL.

The Customs Eeceipts at the Port of Napier for the month ending 31st October amounted to £2,26112s 4d. BANK OF NEW ZEALAND. The eighth report of the directors of the Bank of New Zealand was submitted to the half-yearly general meeting of the proprietors, at the Bank-ing-house, Auckland, on Friday, the 27th day of October, 1865. It is as follows: The directors have again the pleasure of laying before the shareholders the result of another halfyear’s operations, which it will be seen, affords matter for congratulation. Notwithstanding the very general depression which has prevailed through the provinces during the past six months, the business of the bank has been well maintained, and the gratifying result exhibited by the report, may be accepted as evidence of the increasing disposition of the public of New Zealand to support the local institution.

It devolves upon the shareholders to elect two directors in room of one who now retires by rotation, and of C. J. Taylor, Esq., resigned. Eor the Board of Directors. S. BROWNING, For the Directors.

£ B d The net profit for the half-year ended 30th September, after making provision for every bad or doubtful dependency, and a liberal reduction in Bank premises and furniture accounts amounts to 58,C45 13 2 To which is to be added— Undivided balance from last halfyear 2,691 19 5 And recoveries from debts previously written olf as bad or doubtful 2,792 3 5 Making a total available for division of 63,529 18 0 Which the Directors recommend should be appropriated as follows:— To Dividend at the rate of 10 per cent, per annum 25,000 0 0 „ Bonus of 7s per share, equal to 7 per cent, per annum 17,500 0 0 „ Addition to Reserve Fund 18,000 0 0 „ Donation to Guarante Fund ... 500 0 0 „ Balance to Profit and Loss New Account 2,529 18 0 63,529 18 0