£1401 Profit For Bay Bank
The annual meeting of the Bay of Plenty Savings Bank was unusual in that it was not a meeting of shareholders — there were none — it was merely a meeting of the board. The president, Mr R. L. Reeder, made this point on Wednesday afternoon. He said only matters laid down in the constitution for an annual meeting were the election of a president and vice-president. However, Mr Reeder also presented an annual report and balance sheet. The profit and loss acount showed a profit of £1401 in the 10 months to March *31. This was after providing for taxation at £548 and depreciation of £1123. Charges ancl administration came to £17,778 and interest creditecl and accrued to depositors of £29,579, On the other side of the ledger was an income of £46,015 interest on investments and commissions of £4414.
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https://paperspast.natlib.govt.nz/newspapers/TAUTIM19650525.2.24
Bibliographic details
Taupo Times, Volume XIV, Issue 40, 25 May 1965, Page 3
Word Count
144£1401 Profit For Bay Bank Taupo Times, Volume XIV, Issue 40, 25 May 1965, Page 3
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