B—ls

BANK OF NEW ZEALAND— continued «B» Promt and Loss £ s. d. £ s. d. £ s. d. Dividend on C long-term mortgage shares 6,503 18 1 Balance at 81st March, 1947 .. .. .. 596,971 16 6 Dividend on D long-term mortgage shares 16,259 15 3 Dividend on preference B shares .. 25,000 0 0 £596,971 16 6 Dividend on ordinary shares .. .. 150,000 0 0 c=-r 197,763 13 4 £ s. d. Balance carried down .. .. .. 399,208 3 2 Balance brought down .. .. .. .. 399,208 3 2 Profits for year ended 31st March, 1948, £ s. d. £596,971 16 6 including recoveries, and after payment .—.—r—_—| , 0 f an( j provision for all interest due and Dividend paid, December, 1947— £ s. d. £ s. d. accrued on deposits, provision for bad Dividend on preference A shares .. 46,250 0 0 and doubtful debts and other continInterim dividend on C long-term mort- gencies, and for the annual donation to gage shares .. .. .. 6,503 18 1 the Provident Fund are .. .. 2,236,477 4 5 Interim dividend on D long-term mort- Less— £ s. d. gage shares .. .. .. 16,259 15 3 Salaries and allowInterim dividend on Preference B ances at Head shares.. .. .. .. 18,750 0 0 Office and 264 Interim dividend on ordinary shares .. 112,500 0 0 branches and 200,263 13 4 agencies .. 833,918 5 2 Balance, being profit for the year .. 429,795 19 9 Directors' reTo which has to be added amount brought muneration, forward from last year .. .. 399,208 3 2 including London Board and 829,004 2 11 local Directors Less dividend paid, as above .. .. 200,263 13 4 in Australia .. 9,995 16 5 628,740 9 7 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, depreciation, &c. .. 281, 169 13 0 Audit Expenses Account .. 3,239 3 10 Rates and taxes.. 678,358 6 3 1,806,681 4 8 , 429,795 19 9 £829,004 2 11 £829,004 2 11

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