Page 4 Advertisements Column 4

Bruce Herald, Volume x, Issue 956, 9 November 1877, Page 4

NEW ADVERTISEMENTS. T> A iiN K O F NEW ZEALAND. The ordinary general half-yearly meeting of shareholders was held on Monday, 22nd October, in the Chief Office, Queenstreet, Auckland, J. L. Campbell, Esq., in the chair. The Acting- Inspector (Mr J. Murray) read the advertisement convening the meeting; also, the report and balancesheet for the last half year, as follows : — THIRTY-SECOND BEPOBT Of the Directors of the Bank of New Zealand, to the half-yearly general meeting of* the Proprietors, held at the Bankinghouse, Auckland, on Monday, 22nd October, 1877. The Directors beg to submit for the information of shareholders the following statement of the half yearn operations, the results of which they have no doubt will be considered very gratifying : — The net profit at 30th Sep- £ b. d. tember, after making ample appropriation for all bad or doubtful depencies, and fur' reduction of Bank premises and furniture accounts, amounts to „. ,«. „.72,717 15 6 To which has to be added — Balance of undivided profit at 3ist March, 1877.... ... 8 447 8 11 Making a total available for . division of ...31,165 4 5 The fallowing appropriation of which is now recommended — To payment of dividend at the rate of 10 per cent, per annum £36,250 0 0 To bonus of os per share, equal to 5 per cent, per annum 18 125 0 0 To increase to reserve fund 25,000 0 0 To balance cairied to profit and loss account 1.790 4 5 81,165 4 5 The dividend and bonus will be paid at the head office, Auckland, on Tuesday, the 23rd ( 'ctober, and at the branches on receipt ol advice. For the Board of Directors, J Logan Campbell, President. Aggregate Balance-sheet of the Bank of Nbw Zealand at Skptkmbkr 30th 1877, including London Office, at Jucy 31st, 1877 .— Dr. £ s. d. Bank stock ... „. ... 725,000 o o Reserve fund 275,000 0 0 Notea in circulation ... 442 426 0 0 Bills payable in circulation 2,126,676 13 4 Deposits and other 6,124,534 11 6 Balance profit and loss at March 31st, 1877 8,447 8 11 Net profit for half-year ... 72,717 35 6 Total . ... £9,774,802 9 3 Cr £ s. d. Coin and cash balances ... 940 742 13 7 Bullion on hand and iv transitu 506 433 14 9 Government securities ... 399 911 5 0 Landed property, Bank premises, furni' ure, Ac. ... 129,880 13 3 Biils receivable and securities in London 2,745,257 10 9 Bills discounted and other debts due to the Bmk ... 5,052. 576 11. 11 Total £9,774 802 9 3 PROFIT AND LOSS ACCOUNT. Dr. £ s. d To dividend at the rate of 10 per cent per annum .. 36,250 0 0 To bonus ol : 5i per share ... 18,125 0 0 To proposed increase of reserve fund 25,000 0 0 To hal Alice carried to profit and loss, " new account" 1,790 4 5 £81,165 4 5 Cr. £ s d. By balance of profit and loss at 30-h 1877 72,717 15 6 By balance from laßt half year 8,447 8 11 £81,165 4 5 reserve mma. Dr. £ s d. To balance 300,000 0 0 £300,000 0 0 Cr. £ b. d By balance from last statement 275 000 0 0 3y proposed addition ... 25,000 0 Q £300,000 0 0 Audited. A.K. Taylor, ) . „. C. J.Stonk, '[Auditors. The Chairman, in moving the adoption of the report and balance-ahe^t, Baid: (jeqtlernen —Iti becomes an easy as well as a pleasing duty to preside at the half yearly meeting of this institution when such a satisfactory balance-sheet as that which has just been read is laid before you, and when there is nothing further to comment upon than merely chronicling the continued prosperity of the Bank. That prosperity is well marked by the satisfactory item of a further sum of c823,Q0Q, which your directors have deemed advisable to recommend beintr placed to the reserve fund. This sum, shareholders will be pleased to learn, does OOt arise from aqy adventitious source, but from profits, the result of the in Greasing business which the balaneersheet discloses. The business which. we are now doing cannot be but gratifying to shareholder^. No,r have we any large deposits swelling our figures as has hap peued on some previous occasions. The magnitude of these figures is a o leasing index of the advancing prosperity of the Colony, as well as the success of the institution.- J beg to more the adoption of the report and balance-sheet. Mr G B. Owen seconded the resolihtion, which was put and carried ncm. con. ELECTION 1 OF DIHECTOES, The Chairman said the next business was to elect a director. Mr J. C. Firth was the only qualified candidate tfmt?