BANK OF NEW ZEALAND

Hokitika Guardian, 16 June 1924, Page 3

BANK OF NEW ZEALAND

I’Kob'lT SI'BSTANTIA.bI/Y INCH I!A.SKI). WKIJ.IXOTON. June Hi. Ihe report ot the directors of tin; Hank of New Zealand for the year end. ed .Milieh *ll. 1924. lias been forwarded to the shareholders. Ihe chief items compared with those of l!)2:i are as ini lows :

Ii lias In In' remarked that as the lapital lII' the hank was increased during the year hy £1 ;2C0.0<)0. the profits have also increased. I Ik' report of the directors is as fellows : Tlio profits, after providing for expenses of management, all hail and ilniihtlnl debts and other eontiiif'eneies. and after making provision for the annual donation to the Provident P'liud. also for honiis to staff. .are £<~i~J )dl (is !ld. l''rom this has to he deducted interest on guaranteed stork £21.100 Os fid. leaving a halanie of profit for the year of C7.‘10,831 17s .‘ld.

to which Inis to lie tulded the Mirplu on renlisutions of British (ioverimieir securities £1 15.112 its lod. nod provi sion previously ninth l for certnin doubtlul ndvitnces not now leipiired CIS I,lf 17 !)s, und ihe halnnce hroiioht lorwnrd from Inst year. £ 121 ,!177 Its Id, in nil £l. lOOdSlir 2s .VI, from which has icon pnid n dividend on preference ‘A" sluire.s. £70.0)1); interim dividend on preference “1!” slimes 027,000; interim dividend of Is Id nor share on ortlinnry slinres £i-TO.Ot 10; o totnl of £227.00(1. lea v in/ nvuilnhle for dishihution £1.21)0.11117 2s oil. ’I his llio directors propose .should lie disposed of ns lollow.s : Dividend on prrJorcnre ‘-11" idinres (making £87.017 Ills Oil for the yenr). £i;2.i:i7 l:ts od. Dividend on ordinary slinres Iniak-iii-r CIHO.Ki I is lid for the vearl. £100.871 7s lid. Trnnsfer to reserve fund. £I!1(I.7.|0 10s Id (innkino reserve fund £2.J27.0001. Leaving hnlnnee to lie curried forward. £.->OO/>i:t 11 s. Totnl £1.2(17.9(17 2s ."id.

f ':i pi t ;i 1 ■! per (fin (iiiiiniii1021 1023 teed Stock •129.988 o2!»,988 f MivoiniiK iit slmres 1 ,100. OOd 1.12.1.000 Ordinary slimes :i.0oo.*»(K» 2.2.10.000 Net (unfits ... ... 73.1.831 .1.13.08:) riroiifilit forwmd 121.9.17 130.000 For (listriliiition .. i .^oo.onr 7.10,1.17 Transfer to i<.*s<*r\'p ioo./vio 1.10.000 (’llitv fonvjnd .•oo.oi.'! 121,0-17