BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1927.

Appendix to the Journals of the House of Representatives, 1927 Session I, B-15

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1927. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1927.

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.

BANK OF NEW ZEALAND. Incorporated by Act of the General Assembly, 29th July, 1861. Bankers to the Government of New Zealand. Authorized Capital. £ s. d. Four-per-cent. stock (guaranteed by New Zealand Government) .. .. 529,988 10 6 Preference A shares —500,000 at £1 .. . . .. .. .. 500,000 0 0 C long-term mortgage shares—46B,7so at £1 .. .. .. . . '.. 468,750 0 0 D long-term mortgage shares—937,soo at £1 . . .. .. .. 937,500 0 0 Preference B shares —1,375,000 at £1 .. .. .. .. .. 1,375,000 0 0 Ordinary shares —3,750,000 at £1 .. .. .. .. .. .. 3,750,000 0 0 £7,561,238 10 6 Subscribed Capital. £ s. d. Four-per-cent guaranteed stock .. .. .. .. .. .. 529,988 10 6 Preference A shares issued to the New Zealand Government .. .. .. 500,000 0 0 C long-term mortgage shares issued to the New Zealand Government .. .. 234,375 0 0 D long-term mortgage shares .. .. .. .. .. .. 468,750 0 0 Preference B shares issued to the New Zealand Government . . . .. 1,375,000 0 0 Ordinary shares .. .. .. .. .. .. .. 3,750,000 0 0 £6,858,113 10 6 Capital paid up. £ s. d. Four-per-cent. guaranteed stock .. .. .. .. .. .. 529,988 10 6 Preference A shares .. .. .. .. .. .. .. 500,000 0 0 C long-term mortgage shares .. .. .. .. .. .. 58,593 15 0 D long-term mortgage shares .. .. .. .. .. .. 315,603 5 0 Preference B .shares .. .. .. .. .. .. .. 1,375,000 0 0 Ordinary shares .. .. .. .. .. .. .. .. 3,750,000 0 0 £ s. d. 6,529,185 10 6 Reserve Fund .. .. .. ~ .. .. 3,025,000 0 0 Undivided profits .. .. .. .. .. 584,655 12 10 3,609,655 12 10 £10,138,841 3 4

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BANK OF NEW ZEALAND. "A."—Balance-sheet as at 31st March, 1927.

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Liabilities. A ssets. Capital — £ s - d. £ s. d. £ s. d. £ s. d. 4-per-cent. guaranteed stock .. .. .. .. 529,988 10 6 Coin, cash balances, and deposits with bankers .. .. .. 7,532,199 8 4 Preference A fully paid £1 shares issued to the New Government notes —Commonwealth, Fijian, and Sainoan Zealand Government ... .. .. .. 500,000 0 0 Administration .. .. .. .. .. .. 85,591 0 0 C long-term mortgage shares issued to the New Zealand Notes of other banks (legal tender) .. ., .. .. 35,788 0 0 Government, paid up .. .. .. •• 58,593 15 0 Balances due by other banks .. .. .. .. .. 35,513 15 1 D long-term mortgage shares — £ s. d. Bullion on hand and in transit .. .. .. .. .. 7.190 3 7 Paid up .. .. .. .. 116,505 0 0 Money at call and short notice, Government securities, and Paid in advance .. .. .. 199,098 5 0 other securities in London .. . . .. .. 4,366,751 15 0 315,603 5 0 Bills receivable in London and in transit.. .. .. 3,684,809 12 6 Preference B fully paid £1 shares issued to the New 8,051,561 7 6 Zealand Government .. .. .. .. 1,375,000 0 0 New Zealand Government securities .. .. .. .. 3,644,916 10 3 Ordinary shares of £1 fully paid .. .. .. 3,750,000 0 0 Australian Government securities .. .. .. .. 2,125,385 17 4 6,529,185 10 6 Municipal and other local bodies'securities .. .. .. 964,355 4 7 Reserve Fund .. .. .. .. • • •• 2,825,000 0 0 Bills discounted .. .. .. .. .. .. 1,462,027 1 7 Notes in circulation .. .. .. .. •• •• 3,765,593 10 0 Other advances and securities and debts due to the bank, Deposits .. .. . . . . • • ■ • • • 29,664,024 14 1 after deducting provision for bad and doubtful debts .. .. 22,462,952 18 2 Balances due to other banks .. .. .. .. .. 46,044 6 10 Remittances in transit between branches .. .. .. 1.414,613 8 4 Bills payable and other liabilities (including provision for con- Landed property, premises, &c... .. .. .. .. 520,877 9 3 tingencies) .. .. •• .. •• •• 3,970,220 19 3 Liabilities of customers for acceptances, per contra .. .. 143,371 4 10 Reserve for taxes .. .. .. .. .. .. 426,000 0 0 Long-term Mortgage Department .. .. .. .. 374,197 0 0 London Office acceptances under credits .. .. .. 143,371 4 10 Transfers from Long-term Mortgage Department .. .. .. 276,297 0 0 Balance of profit and loss .. .. .. .. .. 1,214,803 3 4 £48,860,540 8 10 £48,860,540 8 10 Long-term Mortgage Department. - — — - -- - : - ■ - : — ' £ s. d. £ s. d. Long-term Mortgage Fund —Capital .. .. .. .. .. .. 374,197 0 0 Loans .. .. .. .. .. .. .. .. .. 97,900 0 0 Transfers to bank . . .. . . . . .. .. . 276,297 0 0 £374,197 0 0 £374,197 0 0 This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement marked " B." — A. P. Green, Chief Auditor.

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"B."— Profit and Loss.

Approximate Cost of Paper.—Preparation, not given; printing (500 copies), £5 10s.

By Authority : W. A. G. Skinner, Government Printer, Wellington.—l 927.

Price 3<2.]

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£ s. d. £ s. d. | £ s. d. £ s. d. £ s. d. Dividend on preference B shares .. .. .. 120,809 7 2 j Balance at 31st March, 1926.. .. .. .. .. 1,183,877 0 9 Dividend on ordinary share capital .. . . .. 250,000 0 0 Amount transferred to Reserve Fund .. . . . . 247, 689 4 0 618,498 11 2 Balance carried down .. .. .. .. .. .. 565,378 9 7 £1,183,877 0 9 £1,183,877 0 9 Twelve months' interest on guaranteed stock .. .. .. 21,199 8 7 Balance brought down .. .. .. .. .. 565,378 9 7 Dividend paid, 4th December, 1926 — Profits for year ended 31st March, 1927, including On preference A shares, £500,000 .. .. .. 50,000 0 0 recoveries, and after- payment of and provision On preference B shares, £1,375,000 .. .. 41,666 13 4 for all interest due and accrued on deposits, On ordinary shares, £3,750,000 .. .. .. 250,000 0 0 provision for bad and doubtful debts, and other 341,666 13 4 contingencies, for the annual donation to the Balance, being profit oil the ordinary operations of the bank Provident Fund, also for bonus to staff .. 1,830,881 1 10 for the year .. .. .. .. '.. 847,670 18 8 Surplus on realization and on maturity of GovernTo which has to be added — ment and other securities .. .. .. 143,420 8 5 Surplus on realization and on maturity of Government 1,974,301 10 3 ! and other securities .. .. .. .. 143,420 8 5 Less — Amount brought forward from last year .. .. 565,378 9 7 Salaries and allowances at Head Office and 228 branches and agencies .. .. .. 448,484 16 4 1,556,469 16 8 Directors' remuneration, including London Less dividend paid, as above.. .. .. .. 341,666 13 4 Board .. ' .. .. 8,786 6 2 1,214,803 3 4j General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. .. .. .. 151,311 3 4 Audit Expenses Account .. .. 2,687 19 8 Rates and taxes .. .. .. .. 350, 740 9 1 962,010 14 7 1,012,290 15 8 £1,577,669 5 3 £1,577,669 5 3 Reserve Fund. £ s. d. £ s. d. Balance .. .. .. .. .. .. .. 3,025, 000 0 0 Balance as per last statement .. .'. . . . . .. 2,825, 000 0 0 Amount to be added from profits for year ended 31st March, 1927 .. .. 200,000 0 0 £3,025,000 0 0 £3,025,000 0 0 CERTIFICATES. I, Arthur Richard Wenman Pennefather Green, the Chief Auditor of the Bank of New Zealand, We hereby certify that, having carefully examined the foregoing balance-sheet (marked " A ") do hereby certify — and statements, we are satisfied that they have been correctly compiled from the books and accounts 1. That, having carefully examined the foregoing balance-sheet (marked "A") and statements, of the bank, and that the balance-sheet is a full and fair balance-sheet, properly drawn up, and I am satisfied that they have been correctly compiled from the books and accounts of the bank. exhibits a true and correct view of the state of the bank's affairs at the date thereof. 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 thereof. Dated this 31st day of May, 1927. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as Buckleton, General Manager, at the date of the said balance-sheet were held at the Head Office in Wellington, and have had access A. Bath, Accountant. to certified returns of so much thereof as were then held at the various branches and agencies of the bank, or were then in transit. Dated this 1st day of June, 1927. A. P. Greejs t , Chief Auditor.