INTERNAL FINANCE.

Auckland Star, Volume LXVII, Issue 138, 12 June 1936, Page 8

INTERNAL FINANCE.

BANK OF NEW ZEALAND. DETAILS FOR PAST YEAR. (By Telegraph.—Own Correspondent.) WELLINGTON, this dav. Details of the internal finances of the Bank of New Zealand for the year nr*W review were given by the chairman, Sir George Elliot, at the annual meeting held in Wellington to-day. Sir George ; also reviewed the' /trend of the market for dairy produce in the same period. "During the year, the- total amount of notes presented for payment was £179,326, the amount -of unpresented notes at March 31. being £324,452, the chairman said. In compliance with the terms of the' Reserve Bank of Xew Zealand Act, 1933, the face value of our notes outstanding on August 1 next will ~be paid over to the Reserve Bant. Deposits, £35,740,430, <tre higher by £2,541,817 than a : jßar.-agfa, the greater part of tliiij increase being in current accounts. ' Coin, Reserve Bank notes and deposits with bankers stand at

£6.913.141. Money at call and short notice. Government-securities and other securities in London, £8,172,420, an increase of £586,952. The bills receivable in London and in transit item showed an increase of £799,333, -which was mainly accounted for by larger shipments of wool and the higher prices ruling. New Zealand Governmeut securities, £3,397,058, show an increase of £249,386. Australian Government securities were less by £264,326. Advances and bills discounted, etc... £22.179,373, were more by £658.642 than a year ago. An interim dividend of 5 per cent on ordinary shares was paid in December last. A further 5 per cent was being paid, making 10 per cent for the year. The dividend on all classes of shares would be payable in Wellington tomorrow and at branches on receipt of advice. The dividends which the various classes of shares would have received for the year would be: A preference, | 10 per cent; C long-term mortgage, 4 I per cent; D long-term mortgage, 7J p« I cent; B preference, 7.27 per cent; ordinary, 10 per cent.