BANK OF NEW ZEALAND.

Taranaki Daily News, Volume LIII, Issue 52, 10 June 1910, Page 5

BANK OF NEW ZEALAND.

ANNUAL REPORT AND BALANCE i •SHEET. By Telegraph —Press Association. Wellington, Yesterday. annual report and balance slieet of the Bank of New Zealand shows tlia I after providing for expenses of manage I ruent, all bad and doubtful debts, and after making provision for the annual donation to the provident fund and for bonus to the staff, there are profits amounting to £314.385 15s. From this has to be deducted interest on guarantee stock ( £40,000), leaving £274,385 15s. Of this sum the directors have allocated

£15,000 in reduction of bank premises and furniture account, leaving a balance of profit for the year amounting to •£259.385 14s, to wlVich lias to be added last vear's balance (£09,088 13s (id), 1 making £320.384 8s Od. Interim dividends totalling £50.000 have been paid on preference and ordinary shares, and the directors propose that the balance of £270.384 8s fid should be distributed as follows:—A dividend of 3% per cent, on .preference shares (£18.750). making BV, per cent, for the year, a dividend of 5 per cent, on ordinary shares (£25.000), a bonus of 2% per' cent, on' ordinary shares (£12.500). making 12y,' per oo'nt. for the year; transfer to reserve fund £150.000. making the reserve fund £BOO 000: balance to he carried forward £04,134 8s Od. i i