BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1937.

Appendix to the Journals of the House of Representatives, 1937 Session I, B-15

8.—15.

1937. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1937.

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.

Authorized Capital. £ s. d. Preference A stares—soo,ooo at £1 .. .. •• •• 500,000 0 0 C long-term mortgage shares —468,750 at £1 .. ■■ •• 468 ,750 0 0 D long-term mortgage shares —937,500 at £1 .. .. •• •• •• 937,500 0 0 Preference B shares—l,37s,ooo at £1 1,375,000 0 0 Ordinary shares —3,750,000 at £1 . • •• •• •• •• 3,750,000 0 0 £7,031,250 0 0 Subscribed Capital. £ s. 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 ... • • ■ ■ • • • • • • 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 £6,328,125 0 0 Capital Paid up. £ s. d. 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 . . ■ ■ • • • ■ • • • ■ 4(38, 750 0 O Preference B shares issued to the New Zealand Government .. .. • ■ 1,375,000 0 O Ordinary shares .. .. -• •• ■■ •• •• 3,750,000 0 0 6,328,125 0 0 £ s. d. Reserve Fund .. .. •• •• •• •• 3,575,000 0 0 Undivided profits .. •• •• •• •• 364,889 17 3 F 3,939,889 17 3 £10,268,014 17 3

8.—15,

BANK OF NEW ZEALAND. Balance-sheet at 31st March, 1937. „ , Liabilities. Aese ts. Capital— £ s. d. £ s. d. £ s. d. £ s d Preference A fully paid £1 shares issued to the New Zealand Coin, Reserve Bank notes, and deposit with bankers .. 7,929,471 8 0 Government .. .. .. 500,000 0 0 Government notes: Commonwealth, Fijian, and Samoan C long-term mortgage fully paid £1 shares issued to the New Administration .. .. .. .. .. 144 784 5 0 Zealand Government ' .. .. .. 234,375 0 0 Balances due by other banks .. 31'401 18 8 D long-term mortgage fully paid £1 shares .. .. 468,750 0 0 Money at call and short notice, Government securities and Jrrelerence x> iullv paid £1 shares issued to the N~ew Zealand other securities in London 7 122 420 0 8 Zealand Government .. .. .. .. 1,375,000 0 0 Bills receivable in London and in transit .. ..1 338'924 19 5 Ordinary fully paid £1 shares .. .. .. 3,750,000 0 0 New Zealand Government securities .. .. .. 8 0 n _ 6,328,125 0 0 Australian Government securities .. .. ..2 995 900 14 7 Keserve Fund (invested m British Government securities) .. .. .. 3,575,000 0 0 Municipal and other local bodies'securities .. .. 335' 024 12 3 Long-term mortgage debenture stock . . . . . . .. .. 607, 050 0 0 Remittances in transit between branches .. 1 584' 679 3 9 Notes m circulation .. .. .. .. .. .. .. 628 0 0 ' 26 108 10 4 Deposits .. .. .. .. .. .. .. .. 35,636,112 0 6 Bills discounted .. .. .. .. .. 801 729 2 11 Balances due to other ba,nks .. .. .. 92,256 11 0 Other advances and securities and debts due to the bank, after deducting proBills payable and other liabilities (including provision for contingencies) .. 4,084,806 7 1 vision for bad and doubtful debts .. .. .. .. .. 22 862 219 9 2 Reserve for taxes .. .. .. .. .. .. .. 426,000 0 0 Landed property, premises, &c. .. .. .. .. .. 684'961 5 9 London Office acceptances under credits .. .. .. .. .. 62,440 6 1 Liabilities of customers for acceptances, per contra.... 62 440 6 1 Transfers from Long-term Mortgage Department .. .. .. .. 372,059 4 10 Lone-term Mortgage Department . .... ,o ]o ' m n 0 Balance of profit and loss .. . . .. .. .. .. 645, 749 4 9 •■••>, £51,830,226 14 3 £51,830,226 14 3 Long-teem Mortgage Department. Long-term Mortgage Fund— £ s. d. 4? j Capital 703,125 0 0 Loans .. .. 938 115 A 2 Debenture stock .. .. .. .. 607,050 0 0 Transfers to bank .. .. .. .. .. .. 372' 059 4 10 £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.

2

8.—15

Profit and Loss. £ s. d. £ s. d, s " Dividend on C long-term mortgage shares .. .. •• 7,031 5 0 Balance at 31st March, 1936 Dividend on D long-term mortgage shares .. .. . • 17,57826 Dividend on preference B shares .. .. •. • • 68,750 0 0 Dividend on ordinary share capital .. .. •• 187,500 0 0 __ Balance carried down .. • • • ■ • • • • • ■ • • 339, 100 7 9 £619,959 15 3 £619,959 15 3 Dividend paid 12th December, 1936— £ s. d. £ s. d. Dividend on preference A shares .. .. 50,000 0 0 Balance brought down .. .. . . •• •• •• •• Interim dividend on C long-term mortgage shares .. .. 7,031 5 0 Profits for year ended 31st March, 1937 mcludmg recoveries and Interim dividend on D long-term mortgage shares .. .. 17,578 2 6 after payment of and provision for all interest due and accrued Interim dividend on preference B shares 31,250 0 0 on deposits, provision for bad and doubtful debts, depreciation Interim dividend on ordinary shares 187, 500 0 0 of furniture, and for the annual donation to the Provident Fund 293,359 7 6 are .. .. •• •• •• £1,60b, 341 15 11 Balance, being profit for the year .. .. •• •• 600,008 4 6 1,606,341 15 11 To which has to be added : Amount brought forward from last year 339,100 7 9 Less— Salaries and allowances at Head Oftice and 22b £ s. a. 939,108 12 3 branches and agencies .. .. .. 553,072 18 9 Less dividend paid, as above 293,359 7 6 Directors' remuneration, including London 645,749 4 9 Board and local directors m Australia .. 8,530 7 0 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. • ■ ■ • 118,460 16 9 Audit Expenses Account .. . • 2,980 0 0 Rates and taxes .. ■ ■ . • 323,289 8 11 1,006,333 11 5 600,008 4 6 £939,108 12 3 £939,108 12 3

3

8.—15

BANK OF NEW ZEALAND—continued. 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 Note.—London assets are shown in this balance-sheet in sterling, and no provision has been made for their appreciation in their relation to New Zealand currency apart from an adjustment for London exchange transactions since Ist April, 1934. 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 18th day of May, 1937. F. W. Dawson, General Manager. A. W. Hall, Accountant. I, Arthur Lewis Hempton, the Chief Auditor of the Bank of New Zealand, do hereby certify— 1. That, having carefully examined the foregoing balance-sheet (marked " A ") and statements, I am satisfied that they have been correctly compiled from the books and accounts of the bank. 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. 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 20th day of May, 1937. A. Hempton, Chief Auditor.

Approximate Cost of Paper.—Preparation, not given ; printing (450 copies), £5.

By Authority: E. V. Paul, Government Printer, Wellington.— 1937,

Price 3d .]

4