BANK OF NEW ZEALAND.
THE BALANCE-SHEET " By Telegraph.-—Press Association. Wellington, June 7 Tlie balance-sheet of the Bank of New Zealand for the year ended March 81 last shows profits, after providing for expenses of management and bad and doubtful debts, provision for annual donations to the provident fund and bonus to staff,, of £407,806 9a 9d. From this has to be deducted interest on guaranteed stock £21,199 10s lOd, leaving £3BO,GO(i ISs lid. Of this the directors have allocated in reduction of bank premises and furniture £50,000, leaving a balance of profit for the year of £33(3,606 16s lid, to ■which, has to be added the balance brought forward of £111,595 13s 4d—total, £448,202 12s 3d, from which there have teen paid interim dividends totalling £105,000, leaving available for distribution £343,202 12s 3d. This the directors propose should be disposed of as follows: Dividend at the rate of 4 per cent, on A preference shares ( £20,000), dividend at the rate of 6 per cent on ordinary shares ( £60,000), a bonus at the rate of 3 per cent, on B preference shares (£15,0(H)), dividend at the rate of 6 per cent, on B preference shares (£7500), bonus at the rate of 3 per cent, on ordinary shares (£30,000), transfer to reserve fund £65,000 (mailing the reserve fund £2,200,000), leaving a balance to be carried forward of £145,702 12s 3d. Owing to the shortage of staff caused by the war the branches at Matanra and Clinton have been made receiving agencies of Gore and Balclutha respectively. For the same reason the agencies at Avondale, Midhirst, and Three Lamps (Auckland) have been closed temporarily.
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Taranaki Daily News, 8 June 1918, Page 4
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271BANK OF NEW ZEALAND. Taranaki Daily News, 8 June 1918, Page 4
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