BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1934.

Appendix to the Journals of the House of Representatives, 1934 Session I, B-15

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1934. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1934.

Laid before both Houses of the General Assembly in pursuance of Section 24 of the Bank of New Zealand and Banking 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 stares —468,750 at £1 .. . . •• •• •• J®'™ J J D long-term mortgage shares—937,soo at £1 .. a a Preference B shares-1,375,000 at £1 HS'SS n a Ordinary shares—3,7so,ooo at £1 3,750,000 0 0 £7,561,238 10 6 Subscribed Capital. £ s. d. Four-per-cent. guaranteed stock .. .. •• •• •• a 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 .. •• •• •• •• " , a a Preference B shares issued to the New Zealand Government .. .. to,OOU U a Ordinary shares .. .. •• •• •• •• •• •• 3,750,000 0 0 £6,858,113 10 6 Capital paid up. £ s. d. Four-per-cent. guaranteed stock .. .. •• •• 6 Preference A shares .. •• •• •• n n C long-term mortgage shares . . ■■ •• •• ■- •• n a D long-term mortgage shares « ,ia u u Preference B shares .. • • •• •• •• 1'375,000 0 Ordinary shares .. - • • ■ • • • • • • • • .. 3, 750, 000 0 0 £ s. d. 6,858,113 10 6 Reserve Fund .. -■ •• •• •• ? Undivided profits J 3,918,608 16 4 £10,776,722 6 10

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BANK OF NEW ZEALAND. Balance-sheet at 31st March, 1934. „ .. . Liabilities. Assets Capital— £ s. d. £ 8. d, £ s. d. £ << d 4-per-cent. guaranteed stock .. .. .. .. 529,988 .10 6 Coin, cash balances, and deposits with bankers .. ..7 598 540 17 1 Preference A fully paid £1 shares issued to the New Zealand - Government notes : Commonwealth, Fijian, and Samoan Government .. .. .. .. .. 500,000 0 0 Administration .. .. . . .. .. 117 278 5 0 C long-term mortgage fully paid £1 shares issued to the New Notes of other banks (legal tender) .. .. .. 17*062 0 0 Zealand Government . . .. .. .. 234,375 0 0 Balances due by other banks .. .. .. 26*510 9 9 D long-term mortgage fully paid £1 shares .. .. 468,750 0 0 Bullion on hand and in transit .. .. .. .. 5 975 13 7 Preference B fully paid £1 shares issued to the New Zealand Money at call and short notice, Government securities and Government .. .. .. .. .. 1,375,000 0 0 other securities in London .. . . .. . . 4 163 347 9 5 Ordinary fully paid £1 shares .. .. .. .. 3,750,000 0 0 Bills receivable in London and in transit .. .. .. 3 1 -p. _ . 6,858,113 10 6 New Zealand Government securities .. .. .. 8,715,532 16 0 Reserve i und. . .. .. .. .. .. .. .. 3,575,000 0 0 Australian Government securities.. .. .. ..4 945 225 13 6 Long-term mortgage debenture stock .. .. .. .. .. 607,050 0 0 Municipal and other local bodies'securities .. .. '458*630 12 1 m circulation .. .. .. .. .. .. .. 4,259,149 0 0 Remittances in transit between branches .. .. .1 439*409 12 0 deposits 34,328,004 9 1 oq Q7l 470 U fi Balances due to other banks 81,828 11 5 Bills discounted '408*186 18 Q Bills payable and other liabilities (including provision for contingencies) .. 3,355,783 13 10 Other advances and securities and debts due to the bank, after deducting proReserve for taxes .. •• 426,000 0 0 vision for bad and doubtful debts .. .. .. 21 962 154 2 8 London Office acceptances under credits .. .. .. .. .. 37,310 10 0 Landed property, premises, &c. .. .. .. .. 667*489 16 5 Transfers from Long-term Mortgage Department .. .. .. .. 204,079 0 8 Liabilities of customers for acceptances, per contra .. 37'310 10 0 Balance of profit and loss .. .. 624,468 310 Long-term Mortgage Department.. " 1,310475 0 0 £54,356,786 19 4 £54,356,786 19 4 Long-term Mortgage Department. Long-term Mortgage Fund — £ s. d. £ ri Capital .. .. 703,125 0 0 Loans.. 1 106 095 19 4 Debenture stock .. .. .. .. .. .. .. 607,050 0 0 Transfers to bank ~ .. .. .. ~ ' 0 8 £1,310,175 0 0 £1,310,175 0 0 This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement marked " B."— A Hempton, Chief Auditor.

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Profit and Loss. £ s. d. £ s. d. j £ s- d. Dividend on C long-term mortgage shares .. .. .. 7,031 5 0 Balance at 31st March, 1933 .. .. •• •• •• 641,279 8 11 Dividend oil D long-term mortgage shares .. .. .. 17,578 2 6 Dividend on preference B shares .. .. .. .. 84,375 0 0 Dividend on ordinary share capital .. .. .. .. 187,500 0 0 296,484 7 6 Balance carried down .. .. .. .. .. .. 344,795 1 5 £641,279 8 11 £641,279 8 11 £ s. d. £ s. d. Twelve months' interest on guaranteed stock .. .. .. .. 21,199 9 1 Balance brought down .. .. .. .. •• .. 344,795 1 5 Dividend paid 9th December, 1933— £ s. d. Profits for year ended 31st March, 1934, including recoveries, and On preference A shares .. .. .. .. . . 50,000 0 0 after payment of and provision for all interest due and accrued On C long-term mortgage shares .. .. .. .. 7,031 5 0 on deposits, provision for bad and doubtful debts, depreciation On D long-term mortgage shares .. .. .. 17,578 2 6 of furniture, and for the annual donation to the Provident £ s. d. On preference B shares .. .. .. .. .. 31,250 0 0 Fund are .. .. .. . ■ ■■ ■■ 1,569,906 11 1 On ordinary shares .. .. .. .. .. 187,500 0 0 Less— 293,359 7 6 Salaries and allowances at Head Office and £ s. d. Balance, being profit for the year .. .. .. .. 573,032 9 11 223 branches and agencies .. .. 518,536 3 0 To which has to be added : Amount brought forward from last Directors' remuneration, including London year .. .. .. .. .. .. .. 344,795 1 5 Board and local directors in Australia .. 9,800 0 0 General expenses, including rent, stationery, 917,827 11 4 telegrams, postages, travelling, repairs to Less dividend paid, as above .. .. .. .. 293,359 7 6 premises, &c. .. .. •• 120,697 17 0 624,468 310 ; Audit Expenses Account .. .. 3,130 0 0 Rates and taxes . • 323,510 12 1 975,674 12 1 594,231 19 0 £939,027 0 5 £939,027 0 5

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Reserve Fund. £ s. d. £ s. d. Balance .. .. .. .. .. .. . 3,575,000 0 0 : Balance per last statement .. .. .. .. .. .. 3,575,000 0 0 £3,575,000 0 0 £3,575,000 0 0 CERTIFICATES. We hereby certify that, having carefully examined the foregoing balance-sheet (marked " A ") and statements, we are satisfied that they have been correctly compiled from the books and accounts of the bank, and that the 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 23rd day of May, 1934. Dawson, General Manager. r . , T . TT A. W. Hall, Accountant. 1, Arthur Lewis Hempton, the Chief Auditor of the Bank of New Zealand, do hereby certify— I' That, having carefully examined the foregoing balance-sheet (marked A ) and statements, Ī am satisfied that they have been correctly compiled from the books and accounts of the bank. 2. That 1 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. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as at the date of the said balance-sheet were held at the Head Office, in Wellington, and have had access 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 29th day of May, 1934. A, Hempton, Chief Auditor.

By Authority : G. H. Loney, Government Printer, Wellington— 1934,

Approximate Cost of Paper.—Preparation, not given; printing (410 copies), £3 ss.

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