BANK OF NEW ZEALAND.

Auckland Star, Volume XXX, Issue 158, 6 July 1899, Page 5

BANK OF NEW ZEALAND.

BALANCE SHEET.

WELLINGTON, July L

The balance-sheet of the Bank of New Zealand was laid on the table of the House to-day. The liabilities are shown as folohvs:—

Capital: Four per cent, guaranteed stock, £2,000,000; preferred shares issued to Crown, £500,000; amount of ordinary capital paid to date under the Bank of New Zealand and Banking Act, 1805, £412,354; reserve fund invested in New Zealand consols, £23,' 474; notes in circulation, £666,223; i bills payable in circulation, £698,355 Deposits: £7,834,480; other liabilities, £164,627; bill discountable, £4765; balance of profit and loss, i £50,000; total, £12,354,283. i Assets: Coin and cash balance at banker's, £1,190,321; bullion on hand and in transit, £94,599; money at call and short notice bills receivable" and securities in London, £1,803,395; investments in the colonies, £2,540,287;' ; bills discounted, £1,613,911; other ad- | vances and securities and debts due to Bank, £4,035,235; estimated amount | recoverable on account of first-class reserve liability, £425; landed- property, premises, etc., £415,576. Bank of New Zealand Estates Company (Limited), assets in liquidation (book value), £455,063; Bank of New i Zealand Estates Company (Limited), | debenture conversion account (originally £68,445), £50,009; Colonial Bank property and premises (book value), £95,457; Colonial Bank purchase, goodwill account (originally £75,000), £70,000; total, £12,354,283.

The profit and loss account is as follows:—Balance of profits at March 31, 1898, paid to Assets Realisatipn Board in terms of Banl^of New Zea-

land and Banking Act, 1895, viz., £50,000, and £"" 000; arrears to March 31, 189S, £, 1,000; 12 months' interest on guaranteed stock, £80,000;' 12 months' dividend to March 31, 1899, on preferred share capital, £17,500;' amount written off Bank of New Zealand Estates " Company (Limited), asests in liquidation, £30,617; amount written off Bank of New Zealand Estates Company, debenture conversion account, £8302; amount written off Colonial Bank purchase goodwill account, £5000; balance for year ended March 31, 1899, £50,000; total, £266----320.

On the other side appears:—Bal« ance from year ended March 31, 1898, £74,900; profits for year ended March 31, 1899, including recoveries and after payment of and provision for all interest due and accrued on deposits and provision for bad and doubtful debts in current business, £379,331; less salaries and allowances, £116,358; directors' remuneration, £2375; general expenses, £41,731; audit expenses, £2725; rates and texes, £20,220; compensation to latis president, £4500;' total, £187,911. This leaves £191,420, which, added to the £74,900, makes £266,320. The reserve fund stands at £23,474. (Note. —Shillings and penca are omitted in the foregoing figures.)