BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1908.

Appendix to the Journals of the House of Representatives, 1908 Session I, B-15

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1908. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1908.

Laid before Parliament in pursuance of Section 24 of " The Bank of New Zealand and Banking Act, 1898."

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w c This is the balance-sheet referred to in certificate on attached Profit and Loss Statement, marked "B."— B. M, Litchfield, Chief Auditor. F EC*

BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1908.

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i Liabilities. Assets. Capital — £ s. d. Pour-per-cent. guaranteed stock Preference shares fully paid up, issued to the Grown under " The Bank of New Zealand Act, 1903," sections 9 and 10 Ordinary shares, 150,000 at £6 13s. id. ..1,000,000 0 0 £ s. d. 1,000,000 0 0 500,000 0 0 £ s. a. Coin and cash balances at banker's .. Bullion on hand and in transit .. •'" . i Money at call and short notice, Government securities, and other securities in London .. . ■.. Bills receivable in London and in transit ... £ s. d. £ s. d. 2,445,993 2 E 80,923 0 8 2,000,000 0 0 250,000 0 0 912,627 0 0 12,771,412 13 2 1,905,232 14 6 1,844,440 2 10 3,749,672 17 4 Paid up to £3 6s. 8d. per share 500,000 0 0 Investments in the colonies^ Colonial Government securities .. .. .. .. ] Municipal securities .'. Reserve Fund, invested in New Zealand Government securities Notes in circulation Deposits Bills payable and other liabilities, including provision for doubtful debts and for depreciation in investment securities Balance of Profit and Loss 1,089,021 0 0 34,274 0 0 1,838,676 6 6 291,597 19 7 Assets Realisation Board assets — Balances owing by purchasers " Sundry assets unrealised 378,040 0 5 93,195 3 3 471,235 3 1,520,722 12 8,350,618 18 321,853* 3 -. Bills discounted Other advances and securities, and debts due to the bank Landed property, premises, &c. 18,064,313 19 3 £ 18,064,313 19 £

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B.—Profit and Loss, 31st March, 1908.

By Authority : John Mackay, Government Printer, Wellington.—l9oB.

£ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 244,880 16 7 Dividend at the rate of 2J per cent, (making 7} per cent, for the year ended 31st March, 19 _ 07), on £500,000 preference shares issued to the Crown in terms of "The Bank of New Zealand Act, 1903 " Dividend at the rate of 5 per cent, (making 10 per cent, for the year ended 31st March, 1907), on £500,000 ordinary share capital .. Amount transferred to Reserve Fund Grant to Officers' Provident Fund 12,500 0 0 25,000 0 0 168,705 9 9 7,000 0 0 213,205 9 9 31,675 6 10 Balance, 31st Maroh, 1907 Balance carried forward to year ended 31st March, 1908 •• Balance brought forward from last year Profits for year ended 31st March, 1908, including recoveries, and after payment of and provision for all interest due and accrued on deposits, provision for bad and doubtful debts, for donation to the Provident Fund, and for bonus to staff .. Less — Salaries and allowances at Head Office and 152 branches and agencies Directors' remuneration, including London Board General expenses, including rent, stationery, travelling, repairs to premises, &c. Audit Expenses Account Rates, taxes, telegrams, and postages Twelve months' interest on guaranteed stock Amount written off bank premises and furniture Interim dividend paid 9th December, 1907 — 5 per cent, on preference shares, £500,000 5 per cent, on ordinary shares, £500,000 244,880 16 7 40,000 0 0 20,000 0 0 244,880 16 7 31,675 6 10 25,000 o o 25,000 0 0 50,000 0 0 600,009 12 2 Balance, being net profit for year Amount brought forward from last year 309,922 12 9 31,675 6 10 341,597 19 7 50,000 0 0 291,597 19 7 142,205 5 9 3,250 0 0 Less interim dividend paid, as above 230,086 19 5 38,001 16 5 1,653 16 2 44,976 1 1 369,922 12 9 £401,597 19 7 £401,597 19 7 Reserve Fund. Balance £ s. d. 450,000 0 0 Balance, per last statement Amount o be added from profits for year ended 31st March, 1908 £ s. d. 250,000 0 0 200,000 0 0 £450,000 0 0 £450,000 0 0 CERTIFICATES. I, Burnet Murray Litchfield, the Chief Auditor of the Bank of New Zealand, do hereby oertify, — II We hereby certify that, having carefully examined the foregoing balance-sheet (marked "■ A ") 1. That, having carefully examined the foregoing balance-sheet (marked " A") and statements, and statements, we are satisfied that they have been correctly compiled from the books and I am satisfied that they have been correctly compiled from the books and accounts of the bank. j accounts of the bank, and that the balance-sheet is a full and fair balance-sheet, properly 2. That I am also satisfied that the said balance-sheet is a full and fair balance-sheet, properly drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. thereof. 3. That I have verified so much of the cash, investments, securities, and assets of the bank Dated this 9th day of June, 1908. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had W. Callender, General Manager, access to certified returns of so much thereof as were then held at the various branches and agencies F. E. Cobkill, Accountant, of the bank, or were then in transit. Dated this 10th day of June, 1908. B. M. Litchfield, Chief Auditor. [