BANK OF NEW ZEALAND.
DIRKCTOBS' ANNUAL REPORT, FEB I'MSS ASSOOUTIOH. Wellington, July 1. The annual rep-irs of the directors of the Bmk of New Z >aland states thtfe the profits-after providing for expense of management and a donation to the provident fund (£1150) and til bad and doubtful deb's in tbe Bank'* current business are £290,590. From this has to be deducted interest on £2 000.000, guaranteed stock £BO,OOO, leaving a bilarce of available profits amounting to £210,590 12 Id. Of this sum the directors have .illocatfd In reduction of the 0010I oial Bank property an<f premise! Uccuunt, £500; in reduction of the Bank of New Z-aland property premises and furniture, £IO,OOO 12< Id; a total of £15,000 12* Id; leaving a >alance to the profi'. and loss aocount of £195,590. This the directors propose should ba d'sposad of as follows: Statutory piym*nt to and Realisation Board, £50,000; dividend at the rate of 5 p. r ceut. for the year ended March 31 on share capital with call paid up (£423,590) £21,180; leaving a surplus payab'e to the Aswta R°alisa'ion Board in terms of "The ißank of New Zealand and Banking Act, 1895," s ction 11, of £124,410.
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Taranaki Daily News, Volume XXXXV, Issue 155, 4 July 1903, Page 2
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198BANK OF NEW ZEALAND. Taranaki Daily News, Volume XXXXV, Issue 155, 4 July 1903, Page 2
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