COMMERCIAL.

New Zealand Times, Volume XXXI, Issue 4868, 28 October 1876, Page 2

COMMERCIAL.

, Tb« Customs, duties received attUs port yes- • ; terday were ns under: — Spirits ;. .. -83 12 7 Sugar 33 6 8 Wine' .. .4 0 0 Goods by wght. 3 9 4Tobacoo .. 30 2 6 Ad valorem .. 2 1 0 Cigars ~- , ... , 3 0 .0 '*> Ale (bottled)-.. 11 r 8 ; 9 Tea .. .. 6 10 0 Total £179 9 10 The Customs duties rewived at this port for the ■week ending October 28 were as follows, ~ ; "Spirits.. ..489 8 3 Goods by weight 145 5 8 Cigars .. •■:. 110 10 10 Ad valorem .. 330 16 .8 ■ Tobacco "■ '. . 268 0 0 Other Duties . . 73 12 6 "Wine .. ■■ .. 92 6 4 Right- dues. Beer . ..'ll7 1 3 . shipping, &0. 63,6 6 Tea 196 17 0 ' ■ - - - Coffee.. 33 8 9 • ■ Sugar,. - . ~ 249 6 1 Total ..'£2146 17 10 'lire import trade has, been duller during the past .week than usual, and prices are unaltered." The May, • from Fowcbow, has put ln an appearance, and brings a , full cargo of the now season’s teas for her owners, Messrs. W. and O, Tumbnll and Co. Stocks of cement are found-to’be lower than anticipated, and as the season advances prices have hardened. ■ Colonial produce, with the exception of Sour, now. -"'quoted at £l6 per ton for first -brands-of pamarn and Canterbury mills in sacks, remain ~ at" last week’s rates. Keg - butter ■ meets with little enquiry at 9d.per lb;; cheese," 9Jd, to 10d.; bacon and hams,9d. to lid. per lb. Oats are firm at 2s. fid. to 3s. for prime, feed: chicken wheat/45.-6d. to 4s. fid.; and maize ■ slightly iower at 4s. 3d, per bushel.. Only a moderate trade doing, and limited entirely to current wants. . • . BANK OF NEW ZEALAND. • ‘ The half-yearly general meeting of the Bank of New Zealand was held ' on the 20th October, at • noon, - in ■ the - Banking-house, Queen-street, Auckland,.’ There 'was ;a ilarge attendance of shareholders.' Dr. Campbbtx, the President of the Bank, having taken the chair, called upon Mr. John Murray (who was acting for the Inspector) to read the" « advertisement calling the meeting. The same gentleman then read the minutes of .the last general; meeting and special general meeting, held on the 1 '2l«t April last.—These were'duly .confirmed.— Mr. Murray then read'the; following , report (the 30th) , and balance-sheet. ,' t j."/ ,(«»,.:t- • The Directors have pleasure,ln presenting to shareholders another Half yearly Beport.of the usual satisfactory, character. ■ ■ ■ > ' ' ’ • ' The Net Profit at 30th September, after!, making voryfull .appropriations for , r . all dependencies considered bod or • —doubtful,“and for'reductlon of Bank" " ! , , Premises,-and Furniture Accounts, , "amounts to - ... .. ' £64,300:19 ; 3, To which has to be added— Premium on Issue of 884 shares re- . i aeryed as per last report for non-tesi- ; Q ' ; Balance of undivided profit at the 81st ■ VucbpSft •• &.84SU «

Giving a total available for division of £68,077 9 H The following appropriation of which is now recommended— * To payment of dividend at the rate of. - 10 per cent, per annum ..V ..£35,000 0 0 To bonus of 6s. per share, equal to 6 . . v petcent^perannum •• , ..£17,600 0 0 To interest reserved for Fiji Bank share- m ■ ' holders ,• .. •.. i 10 0 To balance carried to Profit and Boss • . *■ New Account .. .. •• £8,634 19 11 £63,077 c 9 11 The dividend and bonus will be payable at the Head Office, Auckland, on Monday, the 23rd October, and at the Branches on receipt of advice. —For the Board of Directors, '■* *•* ■ J, Logan Campbell, President. AGGREGATE BALANCE-SHEET OF THE BANK OF NEW ZEALAND. AT SEPTEMBER 30TH, 1876, INCLUDING LONDON OSTICB, AT JULY SIST, 1876. Dr. £ s. d. Bank-Stock .. .. 700.000- 0 0 Reserve Fund : . 260,000 " 0 0 Notes in Circulation .. .. 423,850 0 0 Bills Payable in Circulation .. 1,254,931 17 3 Deposits and other Liabilities .. 5,005,060 15 11 Balance of Profits and Loss at March ; 31st, 1870 6,848 10 8 Net profitfornalf-year£64,3oß 19 3 Premiumon New Shares £1,920 0 0 £7.696,910 3 1 Cr. r ’ £ s. d. Coin and Cash Balances .. .. 1,214,170 1 7 Bullion.on hand, and in transitu ... 316,686. 4 3 Government Securities..’ .. . . 372,000 • 0 0 Lauded Property, Bank Premises, ! Furniture, etc. v.: » •• 120,443 3 3 Bills Receivable, and Securities in London .. .. ~ .. 1,397,076 10 9 Bills Discounted and other debts due to the Bank .. .# ' .♦ 4,276,635 8 3 - . £7,696,910 3 1 PROFIT AND LOSS ACCOUNT. £ s. d. To Dividend at the rate of ten per cent. per annum .. 35,000 0 0 * Bonus of 6s. per share •• 17*600 0 0 „ Interest reserved for Fiji Bank Shareholders , 1,942 10 0 „ Balance {carried to Profit and Loss - New Account 8,634 19 11 £63,077 9 11 By Balance of Profit and Loss at September 30, 1876 54,308 19 3 „ Premiums on New Shares .. .. 1 1,920 ;0 - 0 „ Balance from last half year..' .. 6,848 10 .8 £63,077 9 11 RESERVE FUND. £ s. d. To Balance.. .. •. •• .. 250,000 0 0 By Balance from Last Statement .. 250,000 0 0 The Ckairman, in moving the adoption of the report, said : I have on the present occasion, in moving the adoption of the report which has just been read, only to record the continued prosperity of the bank, a fact borne out by the balance-sheet now laid before you. The figures exhibit a gratifying increase of business, and that the Increase should be most marked in the bank’s resources, and its cash balances, must be at the present juncture especially satisfactory to shareholders. Nothing of any Importance bearing on the interests of the bank has arisen during the past half-year. The demand for new agencies in the outdistricts proves the constantly increasing character of our business along with the development of the eolony. As was anticipated, our tender for the Government account was accepted, and now having the whole Government business enables us to transact it at rates which are favorable to the Government,’ as compared with some of the neighboring colonies. The transfer of the Fiji Bank to this establishment has also been completed-since the last meeting of shareholders. I then stated that your directors look to future benefit, and not to. immediate results, and, although that colony has been suffering from commercial depression consequent upon the transition state of its industries to new branches of production, your directors nevertheless remain satisfied that the bank’s prospects there justify the policy of occupying the field. I beg to move the adoption of the report and balance-sheet.

Mr. J. C. Stone seconded the adoption of the report, and it was unanimously agreed to. The Chairman' then said that the next business before the meeting was the election of three directors to vacancies at the board; two caused by absence and rotation, and one by the death of Mr. W. C. Wilson, whose connection with the bank dated from its foundation, and who for so many years was a valuable acquisition at the councils of the board. There were only three candidates,-Messrs. Alfred Cox and James Watt, and the Hon. James Williamson, who would therefore become the new directors according to the deed of settlement, and 811 the vacancies in the order of their names.; It next devolved upon the meeting to elect two auditors, Mr. <l. P. Pierce, in order of seniority, being ineligible; ‘’ Dr. Ellis moved and Mr. Prime seconded,—" That Messrs. A. K. Taylor and J. C. Stone be auditors’for the current year.”—The motion was unanimously agreed to. • -■ ' Mr. B.‘Tones, M.H.E., moved,—That-a kearty vote of thanks be given l to the".directors and-officers of the, bank.’’- Looking at the-depressed state of business, not merely in Auckland, but he might say all over the world, and the exceedingly low price that is now ruling for money, a large amount of talent must have been displayed by the officers of the bank in order to enable them,.to place before the shareholders so satisfactory a report, and that too in the face of keen competition from the other banking establishments of:New:Zealand, -He trusted that on that occasion the vote of thanks would not be passed as a mere formal matter, but as the hearty expression of the feeling of the shareholders/- ’ Mr. T. Hill seconded the motion, and it was unanimously agreed to ;. , . • t The Chairman returned thanks on behalf of the directors, and Mr. Murray on behalf of the officers of the bank ; after which the meeting separated. By TELEGRAPH. " ' AUCKLAND, Friday. - - Mr. Binney reports :—Flour, Star, £16105., superfine, £ls 10s.: sharps, £8 10s.; bran, £7 10s.; oats, 2s. lOd. to Bs.; barley, nominal; oatmeal, £l4; bacon, lOd.: cheese, 9d. ..... ... ’ : Mr. Buckland reports:—Fat- cattle, per 100 lb.; 28s. to 325. 6d.: shorn sheep, 2}d. per lb. DUNEDIN, Friday. ; Wheat still scarce, best Northern samples command readily 6s,’, inferior and medium, 6s. 3d. to ss. 9d.; oats, freely dealt in at 2s. 2d. to. 2s. 3d; for- fair to fine feed, up to 2s. 4d. for milling; stocks on hand of wheat and oats very slight: barley, without change, quotations nominal, 4s. for fine malting, and •2s. to 2s. 6d. for feed. ■ ... ~ . - :