BANK OF NEW ZEALAND HALFYEARLY MEETING.

Southland Times, Issue 1342, 2 December 1870, Page 3

BANK OF NEW ZEALAND HALFYEARLY MEETING.

♦ The half-yearly general meeting of the proprietors of the Bank of New Zealand, was held on the 26th October, at the Banking-house, Auckland, the President (Thomas Eussell, Esq.,) occupying the chair. ... . The following report was submitted Jlo the meeting : — elg-hteeyth repobt of the drrectobs op the Bane op New Zbaland, to the Half-yearly Meeting op the Proprietors, heed at the Banking- House, Auckland, on Wednesday, the 26th bay op October, 1870. ' The Directors have the satisfaction of placing before Shareholders the result of another halfyear's operations. The net profit afc 30th September, £ s. d. after making liberal provision for all debts known to be bad or doubtful, and also the usual appropriations- in reduction of Bank , premises and furniture accounts, | amounts to 37,232 2 8 To which has to be added — Balance of undivided Profit at 31sfc March last ... ;... ... „.8,013 811 Leaving available for division 42,245 11 7 Of which the following appropriation is now recommended :— '

__ 45,245 11 7 The- Dividend and Bonus will be payable at Head Office to-morrow, 27th October, and afc Branches on receipt of advice. Since the last half-yearly meeting, a general meeting of the proprietors authorised the extension of the Bank's capital, and 10,000 of the new shares were on the Ist instant allotted to the shareholders. The Directors have much pleasure in stating that, as far as their advices afc present reach, the whole of the alloted shares have been readily taken up at the reserved price. For the Board of Directors, , "Thomas Russell, President. - — — ■-— • affg-bt"&at_ balance sheet op thb bank op New Zealand at 30th September, 1870, including- London Oppice Balances at 30th June, 1870.

a a-, a |W. C. Wilson, Aadlted £ James Fabmbb. The adoption of the report having been put to the meeting, was carried unanimously. ______________________

To payment of dm- . £ s. d. dend at the rate of 10 per cent, per annum 25,000 0. 0 To bonus of ss. per share, equal to 5 per cent, per an- , num 12,500 0 0 To balance carried to . . profit and loss new account ... ... 7,745 11 7

- db: "■■■ r " £ s. a. Bank Stock" .'.. ... ..*. ... 500,000 0 0 Reserr&Fund ... ... ... 150,000 0 0 Notes in circulation ... ... 283,974 0 0 Bills in circulation.'. 917,294 16 1 Deposits and other liabilities 1,635,453 3 0, Balance of profit and loss account at 31st March, 1870. 8,013 8 11 Net profit for half-year... ... 37,232 2 8' £3,531,967 10 8 Cs. ■ Coin and- cash Valances...' ... 312,281 11 7 Bullion on hand and in transitu 362,707 0 9 Government securities 180,700 0 0 Notes and bills of other banks 3,527 18 0 Landed property 22,283 8 4 Bank premises, furniture, and stationery ... ... ' 88,553 15 10 Insurance account 3,754 0 8 Bills receivable, bills discounted, and other debts due to < Bank 2,559,159 15 6 "$ £3,531,967 10 8 i PBOMT AND lOSB ACCOUNT. Db. - £ a. d. To dividend at the rate of 10 per cent, per annum ... ... 25,000 0 0 To bonus of 5s per Bhare ... 12,500 0, ._ 0 To balance carried to profib~aiid " loss new account ... ... 7,745 11 7 £45,245 11 7 Ce. By balance of profitat 31st March, ( 1870 ... ... ... ... 8,013 S 11 By net profit for half-year, after 1 writing off bad debts ... ... 37,232 2 8 £45,245 11 7 BESEBVB PTTND. Db. £ s. d " To balance ... 150,000 0 0 t cb. ' . ~~: ~~ s By balance from last statement ... 150,000 0 0