The Bank of New Zealand.

Waimate Daily Advertiser, Volume III, Issue 174, 11 July 1901, Page 3

The Bank of New Zealand.

Welinoton, July 9-. The balance of the Bank of New Zealand was laid on the table of the House this afternoon. The profit and Ibss account showed that the gross profits were £469,291- The expenses of management, indluding rates and taxes, totalled .£169,049, leaving a net profit of £600,242. This is further reduced by the payment of £BO,OOO interest On guaranteed stock, and £9517 interest On preferred shares up to the date of repurchase* le&ving available £210,665, which has been disposed of as follows.—To extinguish the debenture conversion account, £65.860; to extinguish the Colonial Bank goodwill account, £60*000; Written Estates Company assets,

in liquidation, £17,000; written ofl the Colonial Bank property and premises, £10,000; written off bank property, premises and furniture, ; £88,305; to be paid to the Assets Realisation Board, £50,000. The liabilities show; Ordinary capital paid up by shareholders, £421,860; reserve fund (invested ir New Zealand Consols), £28,474; note circulation, £770,729; bills payable, £1,170,030; deposits, £8,682,504; other liabilities, £115,910 ; bills rediscounted in London, £274,956. The total liabilities, including the£2,ooo,ooo guarantee and the £50,000 balance of profit to be paid to the Assets Eealisation Board ate £13,509,464. The assets show coin and cash, £1,456,119; bullion, £98,010 ; money at call at short nd'tice, “bills receivable, Government and other securities in London, £2,523,089 ; investments in the colony, £2,507,584 whichi £1,625,000 is in Assets Board deben - tures); bills-discounted, £2,080,832; other advances, £4,111,188; landed property, premises, etc., £388,762 ; Estates Company assets in liquidation (book value), £298,479; Colonial ' Bank property and premises, £45,398 In the above figures, shillings and pence are omitted.