Commercial.

Press, Volume IX, Issue 1093, 10 May 1866, Page 2

Commercial.

BANK OF NEW SOUTH WALES.

The following is the thirty-first report of the Directors of the Bank of New South Wales to the half-yearly general meeting of the proprietors held at the chief banking house on Wednesday, April 25,1866 :—

" The Directors hare the pleasure to submit to the proprietors the annexed statement of the assets and liabilities of the Bank on the 31st ultimo, and to record their satisfaction with the continued increase of the business of the institution.

Hie following are the results of the operations of the past half-year :— The net profits, after deducting rebate on current bills, interest on deposits, providing for bad and doubtful debts, reducing valuation of bank premises, and paying taxes on note circulation, amount to £100,063 0 1 To which is to be added— Undivided balance from last half-year 3,521 1 4

Giving for distribution ... £103,584 1 5 Which the Directors recommend to be appropriated as follows:— To payment of dividend at the rate of IS per cent, per annum £75,000 0 0 To bonus at the rate of 5 per cent.per annum ... 25,000 0 0 To balance carried to ** profit and oss," new account 3,584 1 5 £103,584 1 5 Branches of the bank have lately been established at Camden and Grafton in this colony, at Mansfield in the colony of Victoria, and at Towns-file, Cleveland Bay, in the colony of Queensland.

The vacant seat in the direction, caused by the resisnation of the Hon. Wm. Walker, Esq., M.L.C., on his departure for Europe, has been temporarily filled by the Hon. Elias Carpenter Weekes, Esq., M.L.C., under appointment from the board of directors. Mr. Weekes now offers himself for election by the proprietary, and is the only candidate for the office. It also devolves upon the meeting to elect aa auditor for the current year. The dividend and bonus will be payable at the head office to-morrow, and at the branches on receipt of advice. For and on behalf of the board of directors, Geobge Allen, President.

Aggregate balanoe-sheet of the Bank of New South Wales, March 31,1866 (including London branch to December 31, 1865, and New Zealand branches to March 5, 1866.) Dr. £ s. d. To Bank stock 1,000,000 0 0 To reserve fund 333,333 6 8 To notes in circulation ... 661,939 0 0 To bills payable 1,758,751 1 6 To deposits and other liabilities 4,226,525 9 0 To profit and leas 142,571 6 3 £8,123,123 3 5 Cr. £ s. d. By coin and cash balances 1,176,957 1 1 By bullion in hand and in transit to London, March 31 1,054,724 18 6 By Government securities 223,545 0 0 By notes of other banks ... 16,663 10 0 By bank premises 155,700 0 0 By bills receivable, bills discounted, and other debts due to the bank 5,495,008 13 10 By insurance account ... 524 0 0 £8,123,123 3 5 Paorrr and Loss, March 31, 1866. !>*• £ s. d. March 31,1866. To rebate (at current rates) on bills discounted not daeat this date ... 33j987 4 10 To dividend at the rate of 15 per cent, per annum 75,000 0 0 To bonus at the rate of 5 per cent, par annnm 25,000 0 0 To balance carried to " profit and loss " new accoon* 3.584 1 5 £112,571 6 S

Cr. £ s. d. September 30,1865. By amount from last account 3,521 1 4 March 31, 1866. By balance of half-year's profits after providing for bad and doubtful debts, and including recoveries from debts previously written off as bad 139,050 4 11 £142,571 6 3 Audited April 24, 1866. John Richardson, > . „-,.,„._, Fbancis MitchellJ Audltorfl '