BANK OF NEW SOUTH WALES.

Southland Times, Volume 2, Issue 61, 9 June 1863, Page 2

BANK OF NEW SOUTH WALES.

Twenty-Fifth Report of the Directors of the Bank of New South "Wales, to the halfyearly General Meeting of the Propriftnrs, held at the chief Banking-house, on Wednesday, 29th day of April, 1863. The Directors have the pleasure to place before the Shareholders the accounts of the Bank for the half-year ended the 31st March last, and to congratulate them on the steady nature of the business. The net profit for that period, after deducting rebate on current bills, interest on deposits, providing for bad and doubtful debts and office furniture, and reducing valuation of bank promises, amounts to ... £74,131 11 8 To which is to be added — Recoveries from bad and doubtful debts previously written of ... 713 10 0 Undivided balance from last halfyear, 3,253 4 5 Giving for distribution, £78,12S G 1 Which it is proposed to apportion as follows : — To payment of dividend, at 15 per cent, per annum, ... ... 56,250 0 0 To bonus of 2J- per cent, on paid-up capital, £750,000, 18,750 0 0 To balance carried to present halfyear, 3,128 6 1 £78,128 G 1 They are also happy to be enabled to state th a the reports of the several inspectors are of a satisfactory character. It now devolves upon the proprietors to elect a director for the unexpired term of Mr. Robert Tooth's office. Mr. E.C. Weekes is the only candidate for the vacant seat. The dividend will be payable at the bead office to-morrow, and at the branches ou receipt of advice. For and on behalf of th« board of directors. Geokgk Ailen, . President. Aggregate balance sheet of the Bank of New South Wales, March 31, 1863 (including Loudo branch to 31st December, 1862, and New Ze a land branches to 2nd March, 1803). y Dr. sj £ s. d. v To bank stock 75<J,G00 0 To reserve fund 250,000 0 To notes in circulation, ... ... 695,831 6 To bills payable, 1,837,430 17 8 To deposits" and other liabilities, 3,776,947 18 4 To profit and loss, 108,935 17 9 £7,419,151 13 9 Cr. £ s. d. By coin and cash balances, ... 1,308, 717 16 0 By bullion in hand and in transit to London, 31st March, 1863, 1,012,735 7 3 By Government securities, ... 50,4-4-5 0 0 By notes of other banks, ... 22.593 0 0 By bank premises, ... ... 107,378 13 0 By bills receivable, bills discounted, and other debts due to the bank, 4,912,380 12 10 By insurance account, ... ... 4.901 3 11 £7,419,151 13 9 Profit and Loss, March 31, 1803. Dr. £ s. d. To rebate (at current rates) on bills discounted not due at this date, ... 30,807 11 1 To dividend at the rate of 15 p n- cent. _ per annum, ... ... _ ••• 56,250 0 0 To bonus of 24- per cent, on paid-up capital, £750,000, 18,750 0 0 To balance carried to profit aid loss i new account, ... ... ... 3,128 G 1 ! £11-8,935 17 9 Cr. £ s. d. Sept. 30, 1862.— 8y amount from last aceoun', 3,253 4 5 March 31, 1863. — By recoveries from bad debts, 743 10 0 By balance of current half-year's profits after writing off bad debts, 104,939 4 0 £108,935 17 9 Audited 29th April, 1863. W. R Piddingtox, ■) AuditcrSt James Milson, J un., )