BANK OF NEW ZEALAND.
ANNUAL REPORT. ' Per Press Association. Wellington. Thursday . The annual report of the Jiank of New Zealand states that the profits, after providing for expenses of management and all had and doubtful debts, and after making provision for the annual donation to the provident fund are £382,-' 530. From this has to be deducted interest on guaranteed stock (.1:40,000), leaving £342,530. Of this sum the directors !iaV« allocated, in reduction of bank premises and furniture, .€40,000, thus leaving a balance of profit for the year of £302,530, to which lias to be added the kilance brought forward from last yeav, j €40,587, making a total of £343,117. The directors propose to dispose of the balance available for distribution, viz.. £283,117, as follows:—A dividend of 4 per cent, on preference shares ( £20,000), dividend of 0 per cent, on ordinary shares £30,000), bonus of 3 per cent, on ordinary shares (£15,000), transfer to reserve £175,000, making the reserve fund £1,375.000. The balance. £43,117, will be carried forward.
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Taranaki Daily News, Volume LVI, Issue 11, 13 June 1913, Page 5
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168BANK OF NEW ZEALAND. Taranaki Daily News, Volume LVI, Issue 11, 13 June 1913, Page 5
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