BANK OF NEW ZEALAND.

Auckland Star, Volume LVII, Issue 134, 8 June 1926, Page 4

BANK OF NEW ZEALAND.

A PROFITABLE YEAR. MXLLION AND A EAIJ SUKPXTJS. £712,302 FOR DITLDEXDS. CARRIED FORWARD, £.565,378. ; I ■Br Telegraph. —Press Association.! ! WELLINGTON", Monday. | Tha report by the directors of the Bank | nf New Zealand for the year ended j March 31, to be presented to the general i meeting of shareholders on June 18, j states that the profits, after providing j tor expenses of management, all bad and doubtful debts and other contingencies, and after making provision for the; annual donations to the provident t'ond. I also for bonus to staff, are £033.360. ' From this has to be deducted interest on guaranteed stock. £21,199, leaving the balance of profit for the year, £012.160. To this are added part of the provision previously made for anticipated loss on the transfer of surplu3 funds from London and not now required, £100.000, and the balance brought forward from last year. £513.299, making a total of £1.525,459 15/10. From the last amount have been paid dividend on preference '"'A" shares, £50.000: interim dividend on preference ■"B" shares. £41,654 13/7; interim dividend on ordinary shares, £249.928 1/6; total £341,582 15/1. Dividends Proposed. There remains available for distribution £1.183,877 0/9. This the directors propose should be disposed of as follows: Dividend on preference B shares (making £162,464 0/9 for the year), £120,809; dividend of 1/4 a share on ordinary shares (making £499,928 1/6 for the year), £250,000: transfer to reserve fund, £247.689, making the reserve fund £2,825,000, and leaving a balance to be carried forward of £565.378. Daring the year the agency at Owaka has been made a branch and agencies have been opened at Avondale, Clevedon, Ellerslie, Henderson, Richmond. Wakefield and Walton. The agency at Aratapu has been closed. During the currency of the Dunedin Exhibition an i agency was opened in the Exhibition buildings. The Balance-sheet. The liabilities are set forth in the bal-ance-sheet aa follows:—Capital, £6,154,----988; reserve fund, £2,577,310. to be increased to £2,825,000; reserve for taxes, £426,000; notes in circulation, £4,444,----392; deposits, £31,121.288; bills payable and other liabilities, £3,648585; sundry other liabilities, £207,506; balance of profit and loss, £1,183,877; total, £49,763,649. The assets are as follows:—Coin, cash, balances, bullion and deposits with bankers, £7.303,753; notes of Commonwealth and Fijian Governments and Samoan Administration and legal tender notes of other banks, £131,141: money at call and short notice, Government and other securities, and bills receivable in London and in transit, £9,949,809; investments in Government and municipal securities in New Zealand and Australia, £7,645,256; bills discounted and other advances and securities and debts due to the bank, £22,662.697; remittances in transit between branches, £1,416,486; landed property, premises, etc., £484.103; sundry other assets, £170,402: totaL £49,763,649.