BANK OF NEW ZEALAND

Wanganui Chronicle, Volume XIII, Issue 1024, 8 May 1869, Page 2

BANK OF NEW ZEALAND

The half-yearly meeting of the proprietors of this bank was held on the 29th ult., —Mr Thomas Russell, chairman of the board of directors, presiding, —when the fifteenth report of the directors to the shareholders, and the accompanying balance-sheet, were read : Fifteenth Report of the Directors to the Shareholders of the Bank of New Zealand. In submitting the result of another halfyear’s operations, the directors congratulate the shareholders on again meeting them with a favourable report. The net profit at 31st March, after providing for every bad or doubtful debt, and making the usual appropriations in reduction of bank premises and furniture accounts, amounts to ... ... 37,258 9 11 To which has been added— Balance of undivided profit at 30th September, 1868 ... 8,554 16 4 Leaving now avilable for division ... ... ... 45,813 6 3 Of which the directors recommend the following appropriation : To payment of dividend at the rate of 10 per cent per annum 25,000 0 0 To bonus of 5s per share equal to 5 percent peranm. 12,500 0 0 To balance carried to profit and loss new account ... 8,313 6 3 The dividend and bonus was payable at head office, Auckland, on Thursday, the 29th inst., and at branches on receipt of advice. For the board of directors, Thomas Russell, President. AGGREGATE BALANCE SHEET OF THE BANK OF NEW ZEALAND. At 31st March, 1869, including London office balances at 31st December, 1868. Dr. Bank stock ... ... 500,000 0 0 Reserve fund .. ... 150,000 Ow 0 Notes in circulation ... 284,147 0 0 Bills in circulation ... 761,715 14 7 Deposits and other liabilities 1,710,405 0 1 Balance of profit and loss account at 30th Sep. 1868 8,554 16 4 Net profit fer half-year ... 37,258 911 £3,452,081 0 11 Cr. Coin and Cash Balance at London Bankers ... 449,688 14 2 Bullion on hand and in transitu ... ... 253,530 8 0 Government Securities ... 360,500 0 0 Notes and bills of other banks 3,517 11 3 Landed property ... 22,079 19 2 Bank premises, furniture, and stationery ... 80,194 16 6 Insurance Account ... 4,237 10 3 Bills receivable, bills discounted, and other debts due to the Bank ...2,278,332 1 7 £3,452,081 0 11 PROFIT AND LOSS ACCOUNT. Dr. To Dividend at the rate of 10 per cent, per annum ... 25,000 0 0 ~ Bonus of 5s per share ... 12,500 0 0 ~ Balance carried to Profit and L 033 “ New Account ” 8,313 6 3 £45,813 6 3 Cr. By balance of profit at 30th September last ... ... 8,554 16 4 ~ Net profit for half-year after writing off bad debts 37,258 9 11 £45,813 6 3 RESERVE FUND. Dr. To Balance ... ... 150,000 0 0 £150,000 0 0 Or Bv Balance from last statement ... ... ••• 100,000 0 0 £150,000 0 0 S James Robertson, Audlted { C. J. Stone. The report was adopted. Mr W. C. Wilson was elected a director. A vote of thanks was given to the directors.