BANK OF NEW ZEALAND. (From the Star, Thursday)

Waikato Times, Volume III, Issue 151, 26 April 1873, Page 2

BANK OF NEW ZEALAND. (From the Star, Thursday)

I'm: half-jcarl) meeting of the proprietors of the Bank of New Zealand was held to-day »l noon at tlic banking-house ol I lie companj in Queen-street, Mr O. J. .Stone occupied Ihe chair in the absence of Mr Russell, the chairniim of the Banking Company. The following half-yearly report of tho directors, being the twent) -third, was then rend :—: — Kri'oiiT. The- operation* of the pa>t hulf-irnr cinWc the director* to laj tho following result belore tlie shareholders: — Tho nt-t pioflfc .it IHtit M-irel), nftcr inakim; full provision for all debts known to be bad or doubtful, and for usual appropriations in reduction of Bank premises and furniture iii'count*, rm>i,n' to £37,293 18^ (id; to which has to be ulded — balance of undivided profit atllOth September, 1872. l'88i!O 5h o>l ; inukiug n total arntlablo for division <.E X 1(5, lot ;is «d. The follow m^j appropi tat ion of which n now rccommeiidrd: To piMiiont ot dividend at tho rate of lOper cent per annum, £3O,(KK) ; to bonus of 2s fid per share, equal to 2i per cent per annum., C7.">00; to bednnee earned to profit ami loss new account, jL'tsUol 3s (id —Total, £W,lol 3s (id. The dividend and' bonus will be najablc at Head Ofllee, Auckland, to-morrow, Friday, the 2olh April, nud at the llr.inches on receipt ot advice. For the Board of Directors, Tuomvh KrssiaTi, President.

The adoption of tlio report was moved by the Chairman, a\lio reform! to the nJbscnco from their meeting of two of the directors, Mi>s«r» Ktissell ami Williamson, both having gone toKngland, the former for the lake of his health. He stated th.it tho operations of the Iftink during the half-year had been prosperous bejond their expectation. On the last occasion of tlwir meeting the Chairman had stated that thej would probably be obliged to reduce the anunint of dividend at tho next meeting, but lie was happy to say that they wero enabled to show a satisfactory balanco-snect. Dr Campbell seconded the report. It was suggested by a shareholder that a separate audit should bo made by auditors outside the bank, and that the reserve funds should be lmosLed in certain appro\ed securities. The Chairman replied that the reserve funds wcr invested in. Government securities, and that the audit was in accordance- with tho deed of settlement. The report was adopted. On the motion of Mr Dignan a voto of thanks was given to the officers of the bank, alter which the proceedings closed.

])R. £ ». Hank Monk 000,000 0 Kcsene fiuul 180,000 0 Notes in circulafiou. • • • 357,257 0 Bills in citvulution - - - 1,132,090 1(1 Deposits and otlier liabilities - - 3,135,91)1 17 JJiiliinee of profit ami ltMs acconul nt September 30. 1872 • • - B,SfiO 5 Net profit far liull-}i;ir - 37,2i>3 18 (1. 0 0 0 2 5 0 0

UAMM'C-SHI.bT.

£5,451^,502 17 1 Cr. C h. d. Coin and ensli balances • - • S7H, 111 2 8 JJullion on linnil and in transit u - 'tt)o,(H>B 15 0 Government Mruntic* • - - 317J>2H 11 It Xoh>H and bill* of other banks - • 4,071 11 10 L:i tided property .... 2.l,]»<i 8 1 I!. ink. promises, iuriiilure,<fc stutionory 72,21(> It 5 Tiwurnncp account . . . 2,7'Jy> 4 1 Hills retrivabkv bills discounted, and other debts duo to the Blink • • 5,827,f»08 9 0

£o,lol,o(K 17 1 raovir \\u i.os«> \uoir\r. £ 9. d. To dividend nl tliv rj(e of 10 jtor n-nl. per annum HO ,OOO 0 O To bonus of 2s (id j)cr Bluire, etju.il to 2i per ccnt.jpcr nnnuin - • • 7,000 0 0 To balance carried to profit and loss "New Account" .... 8,054 3 G

£10,154 3 G £ «. d. Bv balance of profit nt 30tli September, *1872 Uj not profit for hnlf-jenr after writing oir bad debts 8,860 5 0 37,203 18 G

£iG,151 3$ itKShitVE inn. £ s. d. To balauca • 180,000 0' 0 £180,000 0 0 £ 8. il. Y>y balance from last statement • • 180,000 0 0 £180,000 0 0 , „. , fW. I. Tatlou. Mtcd iG.B. Owbx.