Bank of New Zealand Halfyearly Meeting.

Thames Star, Volume XIV, Issue 4460, 21 April 1883, Page 2 (Supplement)

Bank of New Zealand Halfyearly Meeting.

The half-yearly meeting of the Bank of New Zealand was held on 20th. The Directors' report showed that the nett profit for the half-year ended 31st March—after appropriation for known bad and doubtful debts, and in the reduction of bank premises and furnituro accounts—amounts to £89,525'18s 1d. ... The balance from last, half-year was £9,925 9s lid, and the totalamount available for division £99,451 8s Od. It is proposed to be appropriated as follows:—Payment of dividend at the rate of 10 per cent, per annum, £50,000; boaus of 5s per share, equal to 5 percent, per annum.v £25,000; balance to profit and. loss, new account, £24,451 Bs—j £99,451 B?.— Balance Sheet to March 31st. London, January 31st—Liabilities : Capital paid up, £1,000,000; Eeserve fund,- £600,000; Notes in circulation, £562,564; Bills payable in circulation, j £1,889,600 17s lOd ; Deposits and other liabilities, £8,380,930 13s 10d; Balance to profit, and loss, £99,451 ,Bs—total, £12,532,546 19s Bd. Assets—Coin and cash balances at Bankers; £1,157,175 3s 4d; Money at short call in London, '£225,720; Bullion in hand and .in tr'ansitu, £159,232 14s lid ; Government securities, £316,777 ss; bills receivable and securities in London, £2,042,229 17s 7d ; bills discounted and other debts due to the Bank,, £8,389,802' '.'j9a; : lod.{ landed property. Bank premises, etc.,£242,609 9a —£12,532,546 19s Bd. The Chairman, tt»e Hon. J. Williamson^ in'moTing the adoption of the report, predicted that money would be easier shortly, although much could not be expected in the coming six months. He thought the frozen meat trade would increase the value of improved land, and lead to the settlement of waste lands. The reports were adopted, and the meeting adjourned. . <>