BANK OF NEW ZEALAND.

Auckland Star, Volume XLI, Issue 135, 9 June 1910, Page 2

BANK OF NEW ZEALAND.

THE MNUAL SEPORT. PROFITS TOTAL £320,384 8/6. (By Telegraph.—Press Association.) WELLINGTON, this day. The annual report and balance-sheet of the Bank of New Zealand shows that after providing for expenses of management, all bad and doubtful debts, and after making provision for the annual donations to the provident fund and for a bonus to the staff, there are profits amounting to £314.355 1.5/. Froni this has to be deducted interest on guaranteed stock £40,000. leaving £274,385 15/.

Of this sum the directors have allocated £15,000 iv reduction of bank premises and furniture, leaving a balance of profit for the year amounting to £259.385 15/. to which has to be added last yeai-'s balance £0"0.99S 13/(i, making £320,354 8/6,

- Interim dividends totalling £50.000 have been paid on preference and ordinary shares, and the directors propose that the balance of £270,384 8/6 should be distributed as follows:—Dividend 3 J per tent on preference shares, £18,750, making SJ per cent for I the year; dividend 5 per cent on ordinaryshares. £25.000; bonus 24 per cent on ordinary shares, £12,500, making 12', per cent for the year; transfer to reserve J fund. £150.000, making the reserve fund i £800.000. balance to be carried forward £04.134 S/U.