BANK OF NEW ZEALAND.
The twenty-first half-yearly meeting was held at the head office, Auckland, on the 24th ult., Thomas Eussell, Esq., the President, occupying the chair. The Inspector read the advertisement convening the meeting, also the minutes of the last half-yearly meeting, and the following Twenty-first "Report of the Directors of the Bank of New Zealand to the half-yearly general meeting of the proprietors, held at the Bankinghouse, Auckland, on Wednesday, the 24th day of April, 1872. The directors congratulate shareholders on the continued success attending the bank's operations.
The Chairman, after a few remarks on the generally satisfactory condition of business in the colony, and the position of the bank as shown in the statement'
now presented, moved the adoption of the report This was seconded by the Hon. Chares John Taylor, and carried unanimously. The only other business was the election of a director in the room of Mr J. T. Mackelvie, resigned. The Hon. James Williamson being the only other proprietor who had given the necessary notice, was declared duly elected. The proceedings were closed by a vote of thanks to the directors and officers of the bank, moved by Mr J. Logan Campbell, and seconded by Mr P. Dignan.
The net profit at 31st March, alter making provision for every dependency known to be bad or doubtful, and for usual appropriations in reduction of Bank premises and furniture accounts, amounts to £4,4,995 9 4 To which has to be added — Balance of undivided profit at 30th September, 1871 7,604 13 8 Making a total available for division of £52,600 3 0 The following appropriation of which is now recommended— To payment of dividend at the rate of 10 per cent, per annum £30,000 0 0 Bonus of 5a per share, equal to 5 per cent, per annum ... 15,000 0 0 Balance carried to profit and loss new account ... 7.600 3 0 £52,600 3 0 The dividend and bonus will be payable at the head office, Auckland, on the 25th April, and at branches on receipt of advice. For the Board of Directors, Thomas Bttsseix, President. Aggregate balance-sheet of the Bank of New Zealand at 30th March, 1872, including London Office balances at 31st December, 1871. Dr. Bank Btock £600,000 0 0 Reserve fund ... „. ... 180,000 0 0 Notes in circulation 352,117 0 0 Bills in circulation 698.466 1 7 Deposits and other liabilities... 2,593,829 10 8 Balance of profit and loss account at 3OtH Septemb«sr,lß7l 13 8 Net profit for half-year ... 44,995 9 4 £4,477,013 15 3 Cr. Coin and cash balances ... £395,259 7 11 Bullion on hand and in transitu 368,783 1 4 Government eecurities ... 399,031 16 9 Notes and bills of other Banks 3,322 4 0 Landed property 22,793 0 4 Bank premises, furniture, and stationery 74,604 6 9 Insurance account ... ... 4,144 15 2 Bills receivable, bills discounted and other debts due to the Bank 8,209,070 15 0 £4,477,013 15 3 PBOMT AKD tOSS ACCOTOT. To dividend at the rate of 10 per cent, pc? annum ... £30,000 0 0 Bonus of 5s per share, equal to 5 per cent, per annum ... 15,000 0 0 Balance carried to profit and loss new account ... ... 7,600 3 0 £52,600 3. 0 By balance of profit at 30th September, 1871 £7,604 13 8 Net profit for half-year, after writing off bad debtt ... 44,995 9 4 £52,600 3 0 BSSBBTO 7TTKD. To balance £180,000 0 0 £180,000 0 0 By balance from last statement £180,000 0 0 £180,000 0 0 ,..,, f W. I. Taylob. Audited £ c<J>STOjnji
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Southland Times, Issue 1576, 10 May 1872, Page 3
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587BANK OF NEW ZEALAND. Southland Times, Issue 1576, 10 May 1872, Page 3
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