BANK OF NEW ZEALAND,

Nelson Evening Mail, Volume IV, Issue 258, 2 November 1869, Page 2

BANK OF NEW ZEALAND,

The half-yearly meeting of the proprietors of the above bank was held at Auckland, on October 27th, when the following report was presented by the directors : — The directors have again the pleasure of meeting the shareholdei"3 with a report of the result of another half-year's operations ; which, considering the stagnant condition of business in several Provinces, will, they trust, be received with satisfaction. The net profit at 30th September, after making liberal provision for all bad or doubtful debts, and the usual appropriations in reduction of bank premises and furnitnre accounts, amounts to £33,725 17s. 2d., to which was added — Balance of undivided profiit at 31st March, last, £8,313 6s. 3d., leaving available for division — £42,039 3s. 5d. ; of which the following appropriation is recommended:— To payment of dividend at the rate of 10 per ceut. per annum, £25,000 ; to bonus of ss. per share, equal to 5 per cent, per annum, £12,500 ; to balance carried to profit and loss new account, £4539 3s. 5d., making a total of £42,039 3s. sd. The dividend and bonus will be payable at Head Office, Auckland, on Friday, the 29th instant, and at Branches on receipt of advice. For the Board of Directors, Thomas Etjssel, President. Aggregate Balance Sheet of the*Bank of New Zealand, at 30th September, 1569, including London Office Balances at 30th June, 1869.

Dr. £ b. d. I Bank Stock 500,000 0 0 Reserve Fund 150,000 0 0 Notes in Circulation ... 286,537 0 0 Bills in Circulation ... 944,131 9 10 Deposits & other Liabilities 1,856,628 16 11 Balance of Profit & Loss Account at 31st March, 1869 8,313 6 3 Net Profit for Half-year ... 33,725 17 2 £3,779,336 10 2 Cr. £ 8. d. Coin and Cash Balances at London Bankers 367,245 . 6 0 Bullion on hand &in transitu 428,881 10 3 Government Securities ... 174,65 > 0 o Notes & Bills of other Banks 2,298 18 0 Landed Property 22,255 4 2 Bank Premises, Furniture, and Stationary 82,584 16 4 Insurance Account 1,572 4 10 Bills Receivable, Bills Discounted, and other debts to the Bank 2,699,848 10 7 £3,779,336 10 2 Profit and Loss Account. Dr. £ a, d. To Dividend at the rate of 10 per cent, per annum ... 25,000 0 6 To Bonus of ss. per share ... 12,500 0 0 „ Balance carried to Profit and Loss "New Account" 4,539 3 5 £42,039 3 5 Ce. £ s. d. By Balance of Profit at 31st March, last 8,313 6 3 By Net Profit for Half-year after writing off bad debts 33,725 17 2 £42,039 3 5 Reserve Fund. Dr. £ 8. d. To Balance 150,000 0 0 £150,000 0 O Ce. £ s. d. By Balance from last statement 150,000 0 0 £150,000 0 0 a „a-^a f James Robertson. Audited ... | c j gToNE _