Page 13 Advertisements Column 1

Auckland Star, Volume LIX, Issue 124, 28 May 1928, Page 13

THE BANK OF AUSTRALASIA. <Incorporated by Royal Charter, ISM.) Paid-up Capital £4,000,000 Rtterre Find (mod in the tuiiam of tke Bank) •••• 3.550.000 Rcicrre Liability of Proprietors vadcr die Ckarter 4,000,000 , , *11,8(0,000 N.nety-fourU. Annual Report of the Directors of the Bank of Australasia, with the accounts for the year to 10th October, 1927. Pr as anted to the Proprietor* at the Annual General Meeting held on Thursday, 29th March, IMB. REPORT. The Directors submit to the Proprietors the Balance-sheet as at 10th October last, with the Profit Account for the year to that date. After providing for rebate on bills current, for British, Australian, and New Zealand rates and taxes, and making provision for bad and doubtful debts and other contingencies, the net profit for the year amounted to £654,059/11/1. To this has to be added £ 135,508/7/10 brought forward from the US ear ' a account, making a total of £789.567/18/11. From this £280,000 was paid as an Interim Dividend on 30th September last, and the Directors have now appropriated a further sum of £280,000 to pay a Final Dividend of 7/- per share, making in all £560,000, equal to 14/- per share, and representing for the year a distribution at the rate of 14 per cent, free of income tax. The Directors have also transferred £40.000 to the Reserve Fund, and have appropriated £50.000 in reduction of Bank Premises account. This will leave £139,567/18/1 I to be carried forward to the next account. The Dividend will be payable in London. Australia, and New Zealand on 30th March. The Directors retiring by rotation are: Mr. Frederick V. C- LivingstoneL?a«nonth. D.S., Mr. Harold Nelson, and Mr. Charles L Barnett, who, being eligible, offer themselves for re-election. The Auditors. Messrs. Deloitte, Plender. Griffiths and Co., offer themselves for re-election. Since the date of the last Report new Branches have been opened at j w;° te ' Ripponlea, and Yarraville (Suburbs of Melbourne), and Horsham and Warracknabeal in Victoria, at Canberra in the Federal Capital Territory, and at Newton (Auckland) in New Zealand. The Proprietors have already been notified by circular that an Extraordinary General Meeting has been convened for Thursday. 29th inst.. to follow the Annual General Meeting to be held on that day. to obtain the authority of the Proprietors to the issue of 100.000 new shares. If the resolution be duly passed at that meeting it will be submitted, for confirmation, to a further Extraordinary General Meeting to be subsequently convened. '' sanction to the issue be obtained, it is the intention of the Directors to offer the new Shares to the Proprietors pro rata to their holdings, at a premium of £6 per share, that is, at the price of £ I I per share. „ , JOHN SANDERSON, Chairman. 4, Threadneedle Street. London, 19th March. 1928. Profit Account from October 12, 1926, to October 10,1927. Balance brought forward rrom Ocio- £ s. d. £ « 0. r « A. ber. 1926 ins ? Profit for the year to October 10. 19-27, aTter deducting Rebate on Bills current -at Balance date (£7909/1/3'). and making provision Tor all bad and doubtful debt?, and for other contingencies .. I 5"? "35 1 8 Less: I-—Charges or Management—Australasia—Salaries and Allowances to the Staff, including the Superintendent's department, and 22i Branches and Agencies 482,223 13 9 General Expenses. Including rent, repairs, stationery, travelling, etc 107,808 9 4 London—salaries 33 o*4 4 4 General Expenses ««.... 9.487 0 ti »i r» , „-r 632,563 S I ll.— and Taxes— Australasia £165.061 13 9 London 121,050 7 5 — 286.112 1 2 918.675 lu 7 Total amount of net profit for the year to October 10th, 1927 .. 654,059 it t From which deduct: £789 567 75 it Dividend paid 30tli September, w 192 J 280,000 0 0 Transferred to Dividend Account, payable 30th March. 1928 .... 280 000 0 0 Transferred to Reserve Fund ... 40*000 0 0 Transferred to Bank Premises . 50.000 0 0 £50.000 0 0 Balance carried forward per Balance-sheet £139,567 IS 11 Balance Sheet, October 10, 1927. LLABILITIES. £ s. d. ASSETS. £ S. d. Circulation .. .. 427,542 0 0 Specif. Bullion, GovDeposits .. 31,478,756 3 4 ernment >otes and Bills payable and Cash Balances .. 6,645.233 17 5 other liabilities. Loans at call and at including provision short notice .. 110,000 0 0 for contingencies 4,418.993 if 4 British Government — securities .. .. 2,584,545 1 •£ £36,325.291 14 s Government securil.apital £ 1,000,000 0 u ties of Australasia Reserve and other investr,llia> ments .. .. 1,079,000 II 2 . 115 . p d Mills receivable and i n t' rf-mlttauces in business transit .. .. 4,355,723 110 2 ■ , „ „ Advances on securiBank Jt.SoO.'JOu 0 0 ties and other Dividend. assets .. .. 29,669,639 IS 5 payable bank premises in ™. a , r - 30 ' „ Australia. New Zea--1928 .80,000 0 0 ]and and London. 129,792 3 5 Prolit Account— Balance i :;e.r>67 13 11 -5.2C9.3C.7 IS II £■»!.591,859 13 7 £ji sja 13 ~ G. CAMERON. Accountant. E. GODWARD. Manager. >\e have examined the cash and securities in London, and the London books. e perilledl the transfers from the several bran<-hes in the Commonwealth and r Zealand, and we be? to report that, in our opinion, the foregoing- is a full and rair balance--heet of the Bank, and that it a true and correct view of the state or t!i»- B.ink's affairs as shown by thf books. The investments were valued at market price or under. DELoITTE, PLENDEII, GRIFFITHS & CO., London, nth March. 1928. ~r-

ONEHUNGA CLUB'S TOURNAMENT. The following skips have entered teams for the King s Birthday tournament at Onehunga: 1L C. Clarke and G. R. Hoskinz (CarltonJ, U. J. Johnson and R. McMaster (Stanley), Crawsbaw and Diamond (St Helier's). E. Buckley and H. Whittle M.rey Lynn). A. C. Tonkin (West End) Bridge Donnell and Thorpe (Te Papapa). Bassett. Davenport, A. R. Gatland, Jones, Macfarquhar. Mudie, Robertson. Velia, Wieginton and Wright (Oriehungra). Two more entries are required to make four sections of six each. INCIDENT AFTER "BETTY" WINS SANDERS CUP. Following' on "Betty's" third successive win in the Sanders Cup contest at St.wart Island a well-known visitor, prominent in Auckland yachting circles, was asked to propose an important toast at the presentation runc'.ion. To everybody's astonishment he declined. It was arterwards ascertained that a particularly severe attack or indigestion during the last week had reduced him to a weak, nervous state—be was reallv ill A rriend rrom Chrlstehurch. who' had brought" a tin of Anti-Acitio down vtth him, gave it to the sufferer and begged him to try this famous indigestion remedy. He did so, and to his amazement gained immediate relier. Within a week following "Betty's" sensational triumph he felt a new man, was eating and enjoying hearty meals, happy with everybody This renowned specific will give instant relier rrom all pain due to dyspeptic, gastric or llatulent attacks. It is verv powerful, yet is perrectly harmless— soothing to the affected parts—stops remientation. Buy a tin to-day, 2/6, all chemists and stores.— (Ad.)

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