Bank of New Zealand.
ANNUAL REPORT. „■ JThefcfollowiofir J9 the report of the ffirectorg 6f the ' Bank of New Zealatfa, to be presented at tht meeting of shareholders next week : After the payment of a divident on £500,»---000 preferred shares and interest on je2.000.000 guaranteed stock, and making provision for bad and doubtful debts, the balance of net profits to be dealt with amounted lo £98,920 Qi Id. From this amount the directors have appropriated £80,6a7 8s 2d in the reduction of the book value of assets in liquidation being the total of deficiencies on the assets actually realised; £8302 16 < lid in reduction of the debenture conversion accoutn ; and £7000 in reduction of the Colonial Bank purchase goodwill account, leaving a balauce of £5000 available for Btatotory payment to the Assets Realisation Board. During the year the agency at Ormoodville was closed, and an agency at Manaweka established.
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Manawatu Herald, 5 August 1899, Page 3
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148Bank of New Zealand. Manawatu Herald, 5 August 1899, Page 3
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