BANK OF NEW SOUTH WALES.

Otago Daily Times, Issue 281, 13 November 1862, Page 4

BANK OF NEW SOUTH WALES.

Half 1 early Meeting. (From the Sydney Mowing Herald, Oct. 30th.) The half yearly general meeting of the proprietors of tliis bank was held, oil 29th October, at the bankinghouse, at. noon. Mr J. Willis took (he chair. The Manager read the following report and balance sheet:— The directors have the pleasure to state that the business of the half-yrar, ended on the 30th September, has been of a satisfactory character. The net. profit for that period, after deducting rebate on current bills, interest on deposits, providing for had and doubtful debts, and reducing valuation of bank premises, amounts to £75,514 0 4 To which is to be added— Recoveries from Lad arid doubtful debts previously written off 1,515 12 1 \ Undivided balance fioin last half-year 1.223 5 0 Giving for distribution £78,253 4 5 Which it is proposed to apportion as follows :— To payment of divi - dencl, at 15 per cent per annum £56,250 0 0 To payment of bonus of 2% per cent on paid up capital, £750,000 18,750 0 0 To balance to present half year 3 253 4 5 : £78.253 4 5 It is the duty of the meeting to elect a director in room of J. S. Willis, Esq., who retires by rotation. William Walker, Esq., is the only candidate for the office. Both the present auditors, Messrs. Francis Mitchell and W. R. Piddington, now retire, one of these being eligible for re-election, and it also devolves on the proprietors to fill these vacancies. The dividend will be payable at the h»ad office to-monvw, and at the branches on receipt of advice. For and on behalf of the-Board of Directors, J. S. Willis, President. Aggregate balnnee-sheet of the Bank of New South Wales, September 30, 18(52 (including London Branch to KOfch June, and New Zealand Branches to Ist September, 18(32). Dr.

Use Chairman moved" the adoption of the report, and stated it was the intension of'the directors to establish a guarantee and fidelity fund, to commence fr. n> the 2t.=t January, iS63, and to which all the officer? of the bank wuuJd have to contribute ; and .".iso that out of this fund a pi ovident fund would arise, should no los^e-- <n-mxr, find from which all the officers would derive v benefit.

The motion that the report be adopted was put and carried 'unanimously. Air. William Walker was elected a director in the room of Mr J. S. Willis, who retired by rotation, Messrs. W. R. Piddingtou and J." ililsor., junr. were elected auditors. ' ''

A vote of thanks was awarded to the directors, and the meeting separated.

To bank stock £750,000 0 0 To reserve fund 250.000 0 8 To notes in circulation 5(56.976 0 0 To tails payable 1,892,829 1 7 To deposits and other liabilities 3,706,026 8 1 To profit and loss 110,301 11 11 Cr. £7,337,033 1 6 By coin and cash balances £1,381,059 16 3 By bullion in hand and in transit to London at 30th September.. 909,169 4 4 By Government securities 56,777 10 0 By notes of other banks 39,241 0 0 By kink premises 114,90113 6 By bills receivable, billsdiscountod, and other debts due to the bank 4,847,519 12 11 By insurance account 8,364 4. 6 7,337,033 1 6 Profit and Loss September 30,1862. Dr. September 30,1862.—To rebate (at current rates) en bills discounted notdueattl.isda'e £32,048 7 6 To dividend at the rate of 15 per cent, per annum 56,250 0 0 To bonus at the rate of 2£ per cent, ou paid-up capital L750,000...1.. 18,750 0 0 To balance earrit d to profit and loss, "new account" 3,253 4 5 Cr. £110,301 II 11 March 31,1862.—By amount from Jastaccount Ll,223 5 0 September 30.—By balance of current half year'sprofits, after writing off bad debts.. 109,078 6 11 L11O,3O1 11 11 Audited 28th October, 1862. Francis Mitchell, f AadltOT8- :