COMMERCIAL INTELLIGENCE.

Oamaru Mail, Volume III, Issue 627, 7 May 1878, Page 2

COMMERCIAL INTELLIGENCE.

BANK OF NKW ZEALAND. RpnißT. The Pireetn-s have mnrh pleasure in acairt meetinfr thareholders with a favorable report, which affords evidence of continued pro-rcss and success: The net profit, at March :U. after making ample appropriation for all b"t or doubtful dependencies, and for reduction of Bank premises and furniture. amounts to £32,667 19 * To which has to he added Balance of undivided profit at 30th September, IS" t"5" * 5 Vakinc-a total available for division of.. J£^;......- 3 0 The following appropriation o[ which u now recommended : To payment of dividend at the rate of to percent per annum £CfT.'2.TO 0 0 To bonus of Km. per share, equal to 5 per cent, per annum 15.*.2." 0 0 To proponed increase to renerve fund 23.000 0 0 To balance carried to protlt and lo*s new account .. 4.03: i 3 i> PH. IiALiSCC-srtKET. Bank stock £72s.nni> 0 0 Reserve fund 300,000 0 0 Xotes in circulation SO2.SS7 0 0 Bills pavablo in circulation .. .. 2.t:i3.«7-t 5 .'• Deposits and other Hub litics .. 6.500.070 4 S> fiahinee of profit and Iws at September. 30, ts77 .. I.7!*> t ;" N»t profit tor half year .. S2.r.«s> t!) o jito.S3o.ftVJ IS II Coin and cash balances .. .. jL'j7-2.±3-1 f> !> Bullion on hand and in transitu .. -tr.'.'.sso II t> government securities 770.000 0 0 Bill» receivable and securities in London '2.073.10* 14 10 Landed property. Bank premises. furniture, Ac 124,311 IS i Bills discounted, and other debt* duo to the Bank 6\t57.52!j 6 0 JT.UK5.T0.6.-.9 13 II Da. profit antj toss Acrorsr. Tfr dividend at the rate of to per cent, per annnm 36.2X0 9 0 To bonus of 3». per share IS*.t2s 0 0 To proponed increase to reserve fund 23.000 0 0 To balance carried to profit and low new account 4,983 3 9 Ctt. £s4.3sis 3 » By balnncc of profit and loss at Jtst March. T*7.s 32.5*7 1!> 4 By balance from last half-year .. 1.790 4 5 Dr. resirv* ?rxr>. £ »- d. Tir balance 325,000 0 0 JE323.000 0 0 rn. By balance from last statement .. 300,000 0 0 By proposed addition 25,000 0 0 £325,000 0 0 Audited. O. P. Pikrc« I Anditors . B. Tonks > r Mr. Firth, in rcmarkineron the balance-sheet, speakinpof the ppsrcilty of'rhe Colony, said it hr>» been found possible to aid in irivinp to the land a perennial fertility. Inasmuch as, bv a rotation ofcrops.it has been found possible to preserve the jrrowiny powers of the soil ffo ■ season to season. In the neichbonn'ne; Colonies this has not been found possi l te. the createst 1 difficulty heinj- found in those countries to raise root crops arid artificial ens cs. To t»l e South Australia for inataner. which is shut our. from irrowmii other cmos 'ban wheat: the effect of this means that It has to export on« of the main elements of its future prosperity, having titrte else to put in its place, ser.dtnp away from time to time a most important element "f Its wealth in the shape of carpus of whet, which are not replaced bv anv other produce- in consentient— of the soil hoini; unreplcni-hod. We need not. when we ; regard these circumstances, be surprised to find that, while this vuar's vield has !•■ en on the whole e.mat to the avcniir.'- in some other (VM ies bushels to the ! acre - In this I'olonv. raliinc the statistics for Canterbnrv alone, based upon 'be returns al eaity nrilt. the . '•ield has been at fh- rate of 2:: I tishets to the acre, fn this Province -1 have rot seen anv returns, but rot \ xperismv rniihb-s me to arrive at a closotr approximate estimate - the avene.ro vield has been 32 bushels. ; This is a result due t' the advactaees I have spoken of, thecenial climate, and the f.-rtil soil with which we arc blessed. I 1.-otc forward, therefore, to the ' future prosperity of t'is institution, based as it is on i such a solid foundation, as that indicated by the nattl- , ral' advantatres the country possesses. Havin-r just t returned from a visit ro the Southen porioos of this Colonv. t am well pleased to be enabled to -tate that i beheld there the elements of the hiifhest prosperity y and wealth. j *