BANK OF NEW ZEALAND.
DIRECTORS' REPORT. (by telegraph—press association). Wellington, Last Night. The following is the report of the directors of the Bank of New Zealand to be presented at the shareholders' meeting next week :—After the payment of a dividend on £500,000, preferred shares and interest on £2,000,000 guaranteed stock, and making provision for bad and doubtful debts, the balauce of net profits to be dealt with amounted to £93,920 0s I<l. From this amount the directors have appropriated £30,617 3s 2d in reduction of book value of assets in liquidation, teing the total of deficiencies on assets actually realised, £8302 16s lid in reduction debenture conversion account, and £SOOO in reduction of the Colonial Bank purchase of goodwill account, leaving a balance of £50,000 available for statutory payment to the Asset 9 Realisation Board. During the year the agency at Ormondville had closed and an agency at Mangaweka established.
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Bibliographic details
Waikato Argus, Volume VII, Issue 469, 3 August 1899, Page 2
Word Count
151BANK OF NEW ZEALAND. Waikato Argus, Volume VII, Issue 469, 3 August 1899, Page 2
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