THE BANK OF NEW ZEALAND.

Press, Volume IX, Issue 1090, 7 May 1866, Page 2

THE BANK OF NEW ZEALAND.

The ninth half-yearly general meeting of the shareholders of the Bank of New Zealand took place at Auckland, on the 27th ult., in the banking-house, Queen-street, for the purpose of receiving the report of the directors for the half year ending March 31 ; for the election of a director and an auditor ; and for the consideration of alterations in the deed of settlement, proposed to the meeting ol proprietors held October 27 last. The President, James Williamson, Esq., occupied the chair ; and there were also present about forty shareholders. The report and balance-sheet were read and approved of, and the proposed alterations were agreed to. Mr. C. J. Stone was elected a director in the room of Mr. W. T. Buckland, and Mr. Henry Walton appointed auditor. After the transaction of other business, votes of thanks were passed to ; the president, directors, and officers of the bank ; and the proceedings terminated. The report and balance-sheet are as follows :— Ninth Report of the Directors of the Bank of New Zealand,-to the half-yearly meeting of the Proprietors, held at the bankinghonse, Auckland, on Friday, April 27, 1866. In again meeting the shareholders, the Directors have the satisfaction, of reporting the successful result of another half-years operations. £ s. d. The set profits for the halfyear ending March 31, j after ample providing for all debte supposed to be bad or doubtful, and making a liberal reduction in bank premises and furniture account*, amount to 52,614 8 11 To which are to be tdded— ■ Recoveries from debts previously written off as bad * j or doubtful £615 14 5 And balance undivided last half-year ... 2529 18 0 — 3145 12 5 Giving for division a total , available balance ... £55,760 1 4 Of which the Directors recommend the following appropriation: — To payment of dividend, at the rate of 10 per cent. per annum £25,000 0 0 To bonus of 7s per share, equal to 7 per cent, per annum 17,500 0 0 To addition to reserve fund... 10,000 0 0 To donation to proposed Guarantee Fund, which completes the contribution <. agreed to Sept. 30, 1864 500 0 0 To balance to profit and loss new account 2760 1 4 £55,760 1 4 Dividend and bonus wil lbe payable at head office on Tuesday, the Ist day of May, and at the branches on receipt of advice. Certain alterations in various clauses of the Bank's deed of settlement, proposed at last general meeting, will now be submitted for confirmation. It will also devolve on the meeting to elect a director in the room of W. T. Buckland, Esq., who has retired j C. J. Stone, Esq., has given the necessary notice, and is the only candidate for the office. There is also an auditor to be elected in room of C. J. Stone, Esq., resigned; whose position has been temporarily occupied by the nomination of Henry Walton, Eaq. For the Board of Directors. Jaidbs Williamson, President. Aggregate Balance-sheet of the Bank of New Zealand, at March 31, 1866, including the London office balances at December 30,1865. £ c. d. To bank stock 499,983 0 0 To reserve fund 133;000 0 0 To notes in circulation ... 350,966 15 0 To bilk in circulation ... 634,556 16 1 To deposit© and other liabilities 1,516,157 10 1 To recoveries from bad debts 615 14 5 To balance of profit and loss account at Sept 30 last 2529 18 0 To net profit for half-year 52,614 8 11 £3,190,424 2 6 Bj coin at the head office mnd branches, and cash, balance at London Bankers 325,086 3 2 By bulhonon hand, and in transitu to London, &c. 409,316 13 6 By Government securities 350000 r> 0 By landed property ... 19 750 14 6 By Bank premises, furniture, and stationery ... 44,825 18 0

By notes of other Banks ... 4970 0 0 By insurance account ... 3348 17 3 By bills receivable, bills diecounted, and other debts due to the Bank 2,033,116 16 1 £3,190,424 2 6 Profit aitd Loss Accocxt. £ c. d. To dividend at the rate of 10 per cent per annum 25,000 0 0 To bonus of 7s per share, 7 per cent, per annum ... 17,500 0 0 To increase of reserve fund 10,000 0 0 To further donation to Guarantee and Provident Fund 500 0 0 To balance carried to profit and loss new account... 2760 1 4 £55,760 1 4 By balance of profit at 30th September last ... 2,529 18 0 By recoveries from bad debts 615 14 5 By nett profits for halfyear, after writing off bad debts 52,614 8 11 £55,760 1 4 Ebßbbvb Fund. £ s d To balance 143,000 0 0 £14,000 0 0 By balance from laet statement 133,000 0 0 By amount transferred from profie of past half-year... 10,000 0 0 £143,000 0 0 (Audited.) Hknbt Waiton. B. Watbbston.