BANK OF NEW ZEALAND.

Auckland Star, Volume LVIII, Issue 134, 9 June 1927, Page 9

BANK OF NEW ZEALAND.

'well equipped for lean times.i . payment to state in tanks, j In Tuesdays issue was published a comparative table showing: the profits made by the Bank of Now Zealand in successive 1 years since I'.HO. together with the amount disbursed in dividends and the condition of i the RecurvC Fund at the close ot each year. . \ ■> ' The latest, balance-sheet (a summary ot ! which has already appeared! is now avail-, able and it becomes possible to tarry these , comparisons further. ' The following tilde enn-crnn the ehicf, items in the Profit and Loss account:—

It will lie note.l that the cross income for the year snow.-, a shchl whilst expense? have p>no up mul this is naturally lerierte.l in tne leiharl net profits. However, thru' was still mere 'than enough to justiiy the .Urect.-is in iecommentlini; payment ot the ustini <liviilemls. even at the higher eapit:'h<ation. :'.u\ at the same tune m.-l.e a liberal aihlitimi to the already su'wlantial reserve • iiiti-i. Tin' amount ]...\..hle 1 nt.<xnti«n i--1 i-i-ln-e.] l.v si !ew tho:i>a! •!. l>ut It 1- Woith 1 | emphasising that ikinr: the past in e yeais •= I the hank ha- pall in taxation i ! •>•■ on r £ - J.ntHi.iiftii. I'l otits ha' c now to ]>.• i'i.iii.il ■■:) a eapilalisatioii of £1i..VJ0.K".. as against Ct>.].>4.oß!l last veal. h;:t li'.eie is llUie ■ do'iht ot the liai-k's ahilltv to eonrnne to , pay it- enrrent late m .hvvle;i'l. Witl a reserve of over i.'a.ir.'-i oon i\,;.> appeals to lie a.i'.ple ;io\ision : ■ : a t-::.i .. lean The tolloai-m lal.'es -. • ,h.u' l.alanee'i sheet iw»\ nr.cnt- sliue l'.il'i:

1 10-7 ... ;;.;•;:..,v,h ;;:.>-,><:j.2\ r.i.<n;i.'Co A marked feature 01' this tahle is the 'contraction in circulation ami tin - drop .in deposit;-., which aie l>>\vt: than they c 'have Veen for many ycar>. Only once • , since I!H7 have the deposits Ween less at . balancing tune than jCSn.omMH"'. 1 hose 1 lipures arc an unpleasant reminder <■! the tightness of mollev iluiiiii: t'.ie pa.-t .' financial ye.n .

I I It will he noticed trom lhe<o c. mpari;sons that afrninst liabilities ot t'S7.:SW.b4O ' i there were at Mmch 31 i .4.271."12 of I liquid assets within i-a.-y wain m an ~'emergency, represented !•>' c..-h. Lank , 'notes, bills lenewable in L"!!< )'•'■>. Oowrni nient anil uuiiiiei]i.il secnutics. Then in " I addition there wore t"J3.K4.flS , 'i oi «'rdin- ■ | ary trailing advances uud thj bank's pro--5 i perties. e | Generally sneaking, it ma: be said that a the position is not u.-. £ood *> it was at the end of last year.' The farmer;- and the ,' business community have suficied from the lowered prices obtained !<ir th> II country's produce and tin- hank's :ttt;;i..- - na'.uia.'> reflect tin.- ccninm.! i.f>\»'.iiei'.t. 11 Long Term Mortgage. i'l'i.- de«>ui fluent is i-iii\ in r.* iii;.r.u-> . * j At balance tunc the capita! r.mimiilcd to n £374.107.' Loans wci e made tor a t'tal of r £97.900. and i' 270,297 was Udusiencd to the baai». . ■_■_ _*:•„ •itiiiia - tj, —oftiacaMg *• h — --i i— -

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