Page 2 Advertisements Column 2

Poverty Bay Standard, Volume XI, Issue 1359, 22 September 1883, Page 2

Men’s Boy's and Youth’s Clothing Department. A RRANGEMENTB have been made with various TWEED and WOOLLEN MANUFACTORIES in NEW ZEALAND and VICTORIA which will enable the Proprietor to place before the Public of Poverty Bay the largest and beet Stock of COLONIAL MADE CLOTHING of all descriptione ever imported into the Dietrict. The Goods are equal to those made to measure. FIT AND STYLE GUARANTEED. A Single garment at Less than Wholesale Price. Shirts Hate, Hosiery, Boots, Shoes, Saddled and Bridles. W. Adair.

Forty-fifth annual report of the Directors of the Union Bank of Australia, Limited, presented to the General Meeting of Proprietors held on the 30th July, 1883. The statement of Accounts which the Directors have now the pleasure of presenting cannot fail to be very gratifying to the Shareholders. It shows an improvement under every head of the Bank’s business ; and the profits, after sufficient provision for all bad and doubtful debts, have enabled the Directors to declare on this occasion a Dividend of LI 15a per share and a Bonus of 10s per share, together at the rate of 18 per cent per annum, and to transfer L 30,000 to the Reserve Funds. These Funds are thereby raised to L 910.000, and the Directors take this opportunity of repeating that they are strongly in favor of the policy of adding steadily to the Reserve funds when profits admit of it. The very satisfactory result of the halfyear’s operations is attributable to an expansion in Colonial industries and to the continued active demand for money and consequent full employment in the Colonies of the Bank’s funds; but it is largely due also to the zeal and prudence with which the increased business of the Bank has been conducted by the General Manager, the Chief officer for New Zealand, the Managers of branches and other responsible Colonial Officers, as well as by the Manager and Staff in London. The past season has not been entirely favourable to the chief interests of the Colonies, some important districts having suffered from want of rain. The grain harvest in South Australia has again proved deficient, but good in quality. In New Zealand, on the other hand, the harvest has been abundant. Richard James Ashton Esq., and Sir Charles Henry Mills, Bart., M.P., are the Directors who retire on this occasion, in accordance with the provisions of the Deed of Settlement, and oner themselves for reelection. Albert Dbacon, Esq., and Robert Palmer Harding, Esq , the Auditors of the Company, also retire, and offer themselves for re-election. The annexed Balance Sheet presents a net amount of profits of LISBJSS 5s 7d, out of which the sum of L 30,000 has been tranferred to the Reserve Funds, and the balance, viz., L 158.155 5s 7d, is available for division. Of this, the Dividend and Bonus will absorb L 135,000, and leave L 23.155 os 7d to be curried forward. The Dividend Warrants will be transmitted by post on Ist August, and the Dividend and Bonus will be payable in the Colonies at such time as the General Manager shall fix after receipt of telegram.

UNION BANK OF AUSTRALIA (Lmtd.) Balance Sheet, 28th February, 1883. Liabilities. Capital ... £4,500,000 Less Reserve liability... 3,000,000 Paid up ...£1,500,000 0 0 Reserve funds— Balance at 31st Aug., 1882 ... 880,000 Amo u nt transferred from this half- year’s profits ... 30,000 910,000 0 0 Circulation ... ... 397,601 10 0 Deposits ... ... 8,181,197 5 10 Bills Payable and other liabilities (including reserves held against doubtful debts ... 1,873,779 11 5 Balance of undivided profits ... ... 158,155 5 7 £13,020,733 12 10 Assets. Specie and hand and cash balances ... ... £1,292,556 8 2 Bullion on hand and in transitu 48,477 16 6 Money at call and short notice in London ... 125,000 0 0 Government Securities ... 500,000 0 0 Bills receivable, loans and other securities at London office ... ... 1,969,877 10 5 Bills discounted, bills receivable, loans and other securities at the branches 8,809,021 17 9 Bank premises and property 275,800 0 0 £13,020,733 12 10 Statement of Profits. Balance of undivided profits at 31st August, 1882 141,257 13 10 Out of which a dividend and bonus were declared ° f ■■■ , 120,000 0 0 Leaving a balance of 21,257 13 10 Profits for the past halfyear, after making provision for all bad and doubtful debts 242,176 1 0 Less : Remuneration to the local Directors, and salaries and allowances to the Colonial Staff’— 45,381 0 5 General expenses in the Colonies, including rent, taxes, stationery, &c—--16,638 9 5 Remuneration to the Board of Directors and Auditors, salaries of the London office staff, rest, taxes, stationery, and.