BANK OF NEW ZEALAND.

Nelson Evening Mail, Volume XIII, Issue 104, 2 May 1878, Page 2

BANK OF NEW ZEALAND.

The thirfcy-third half-yearly meeting of the shareholders was held on April 25, in the Banking-house, Queens-street, Auckland, — J. L. Campbell, Esq., Chairman of the Board of Directors, presiding. The General Manager (Mr D. L. Murdoch) read the minutes of the last half-yearly meeting, which were confirmed. The General Manager read the half-yearly report and balance-sheet as follows: — Thirty-toted Ebpoet of the Directors op thu Bank of New Zealand, to the Half-yearly General Meeting of the Propbietoes, held at thb Banking-house, Auckland, on Thu2sdax, 25th April, 1878. The Directors have much pleasure in again meeting shareholders with a favorable report, which affords evidence of continued progress and success : — The net profit at 31st March, after making ample appropriation for nil bad or doubtful dependencies, and for reduction of Bank premises and furniture, amounts to ... „ ... £82,56/' l9 4 To whioh has to be added — Balance of undivided profit at 30th September, 1877 ... ... ... £1,790 4 5 Making a total available- for division mv Of. ... ;.. ... : ... £8-1,358 3 9 The following appropriation of which is now reoommended — To payment of dividend at the rate of 10 per cent, per annum . . £36,250 0 0 To bonus of 5s per share equal to 5 per con*, per annum ... £18,125' 0, 0 To proposed increase to reserve fund. ... £25,000 0 0 To balance .carried to profit and loss new account .. ... £4,983 3 9 : ' £84,353 3 9 The dividend and bonus Vfili be payable at the head office, Auckland, on Friday, the 26th April, and at the branches on the receipt of advice. For the Board of Directors. J. Logan Campbhw, President; Agsbbgatb Balakcb-bhebt of thh Bank o* Nbw Zealand at 31bt March, 1878, including Londow Oipicb at 31st Januabx, 1878 ;— Dr - £ s d Bank Stock 725,000 6 6 EeaerveFund 300,000 0 0 JNotea in circulation ... ... ■ 502,557 0 0 Bills payable in circulation ... ... 2,133*674 5 5 Deposits and other liabilities ... 0,800 070 4 9 Balance of profit and loss at Septem- ' ber3o, 1877 .. J 790 4 i 5 Net profit for half-year .. „. 82,667 19,4 £10,550,059 13 11 „ . Cr - .. , & s. d. Coin and cash balances .. ... 972,831 6 9 Bullion in hand and in. transitu. ... 452 880 11 ! 0 GoTernment securities ... .. 770*000 0 0 Bills receivable, and securities in LonT a 0? - ._ „' 2,073,101 14 10 landed property, Bank premises, furniture, &o. .. 121,31115 4 Bills discounted, and other debts due to the Bank 6,157,528 6, 0 £10,550,659 13 ill PBOFIT AHD LOSS ACCOUNT. Dr. . £ s. d. To dividend at the rate of 10 per cent. -per annum ... 36 2 50 0 0 To bonus of 6s per share ... ... 18,125 0 0 To proposed increase to reserve fund 25)000 0 0 To balance carried to profit and loss, . "new account" ... ... 4^83 3 9 ■ £84,358 3 9 Cr. .. £ s d By balance of profit and loss at 31st March 1878 , .;. „. 82,567 19 j 4 By balance from last half-year .;, 1,790 4 1 ' 6 : £84,368 3| 9 1 . BBBBEVB SUKD. ■m *??' " ' • £ s. d. To balance ..., .. 325,000 0 0 . - £325,000 0: 0 Cr. • & s. id. •By balance from kst statement ... 300,000 0 0 By proposed addition .. ... 25,000 0 0 £325,000 0, 0 Audited. . j G. P. Peabok, \ a = f B. Tones, J Auditors.