BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1918.

Appendix to the Journals of the House of Representatives, 1918 Session I-II, B-15

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Session 11. 1918. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1918.

Laid before both Houses of the General Assembly in pursuance of Section 24 of the Bank of New Zealand and Banking Act Amendment Act, 1898.

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BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1918.

Liabilities. Assets. Capital — £ s. d. £ s. d. £ s. d. j £ s. d. ; £ s. d, Four-per-cent. guaranteed stock .. .. .. 529,988 10 6 Coin and cash balances at banker's .. .. .. ... .. 5,500,385 17 2 " A " preference shares fully paid, issued to j Government notes —Commonwealth, Fijian, and Samoan Adthe New Zealand Government .. .. j 500,000 0 0 ministration .. .. .. .. .. .. .. 292,724 10 C " B" preference shares fully paid, issued to Notes of other banks (legal tender) .. .. .. .. .. 1,194,766 0 C the New Zealand Government ., .. .. 250,000 0 0 Bullion on hand and in transit .. .. .. .. .. 237,170 12 c Ordinary shares, 150,000 at £6 13s. 4d. ..1,000,000 0 0 Money at call and short notice, Government securities, and other Paid up to £3 6s. 8d. per share.. .. .. 500,000 0 0 securities in London .. .. .. .. .. 112,153,743 15 1 New ordinary shares, 75,000 at £6 13s. 4d., fully paid .. 500,000 0 0 Bills receivable in London and in transit .. .. .. 289,136 9 4 2,279,988 10 6 12,442,880 4 c Reserve Fund .. .. .. .. .. .. .. 2,135,000 0 0 Investments in the Dominion — Notes in circulation .. .. .. .. .. .. 3,312,995 0 0 New Zealand Government securities .. .. ..2,620,14110 0 Municipal securities .. .. .. .. .. 338,035 1 5 Deposits .. .. .. .. .. .. .. .. 30,437,936 17 3 2,958,176 11 8 Bills payable and other liabilities, including provision for doubt- Bills discounted .. .. .. .. .. .. .. 1,320,26112 £ ful debts and for depreciation in investment securities .. .. 2,329,559 9 9 Other advances and securities, and debts due to the bank .. .. 16,466,493 1 £ Balance of Profit and Loss .. .. .. .. .. .. 343,202 12 3 Landed property, premises, &o. .. . .. .. .. .. 425,823 19 1C £140,838,682 9 9 £40,838,682 9 E 2 This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement, marked " B." — B. M. Litchfield, Chief Auditor.

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CERTIFICATES. I, Burnet Murray Litchfield, the Chief Auditor of the Bank of New Zealand, do hereby certify,— 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. 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 4th day of June, 1918. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had W. Callendeb, General Manager, access to certified returns of so much thereof as were then held at the various branches and agencies A. McLennan, Accountant. of the bank or were then in transit. Dated this 6th day of June, 1918. B. M. Litchfield, Chief Auditor.

B.—Profit and Loss, 31st March, 1918.

Approximate Cost of I'aper. —Preparation, not given ; printing (650 oopics), £3.

By Authority : MARCUS F. Marks, Government Printer, Wellington.—l9l9.

Price 3d.]

£ s. d. Dividend at the rate of 4 per cent, on £500,000 " A " preference shares issued to the New Zealand Government in terms of the Bank of New Zealand Act, 1903 .. .. .. .. 20,000 0 0 Dividend at the rate of 6 per cent, on £250,000 " B " preference shares issued to the New Zealand Government in terms of the Bank of New Zealand Act, 1913 .. .. .. .. 15,000 0 0 Bonus at the rate of 3 per cent, on " B " preference shares .. 7,500 0 0 Dividend at the rate of 6 per cent, on ordinary share capital .. 60,000 0 0 Bonus at the rate of 3 per cent, on ordinary share capital .. 30,000 0 0 Amount transferred to Reserve Fund .. .. .. .. 72,858 12 9 £ s. d. Balance, 31st March, 1917 £ s. d. £ . I ■ : s. d. £ s. d. 316,954 6 1 Balance carried down 205,358 12 9 111,595 13 4 £316,954 6 1 £316,954 6 1 Twelve months' interest on guaranteed stock .. Amount written off bank premises and furniture Interim dividend paid 8th December, 1917 — 6 per cent, on " A " preference shares, £500,000 .. .. 30,000 0 0 6 per cent, on " B " preference shares, £250,000 .. .. 15,000 0 0 6 percent, on ordinary shares, £1,000,000 .. .. .. 60,000 0 0 21,199 10 10 Balance brought down 50,000 0 0 Profits for year ended 31st March, 1918, including recoveries, and after payment of and provision for all interest due and accrued on deposits, provision for bad and doubtful debts, for annual donation to the Provident Fund, and for bonus 105,000 0 0 to staff i 111,595 13 4 1,106,441 19 0 Balance, being net profit for year .. .. .. .. 336,606 18 11 i Amount brought forward from last year .. .. .. 111,595 13 4 448,202 12 3 Less interim dividend paid, as above .. .. .. 105,000 0 0 336,606 18 11 111,595 13 4 Less — Salaries and allowances at Head Office and 202 branches and agencies Directors' remuneration, including London Board General expenses, including rent, stationery, 343,202 12 3 telegrams, postages, travelling, repairs to premises, &c. Audit Expenses Account Rates and taxes 265,405 19 3 4,195 16 8 448,202 12 3 105,000 0 0 80,307 16 9 2,341 0 0 346,384 16 7 698,635 9 3 407,806 9 9 £519,402 3 1 £519,402 3 1 Eesekve Fund. Balance £ s. d. 2,200,000 0 0 Balance, per last statement .. Amount to be added from profits for year ended 31st March, 1918 £2,200,000 0 0 £ s. a. .. 2,135,000 0 C 65,000 0 ( £2,200,000 0 (