Page 20 Advertisements Column 1

Press, Volume C, Issue 29681, 27 November 1961, Page 20

' """*' 11 —— ■ ' I “WALES” REPORT, yw wfcfi An Exceptionally Good Business Year Bminess in New Zealand had an exceptionally good year, tart it m—Wii an Indian sanuner rather than a healthy eeoranfc drwilapawet. Imports were built ap to snch an extent that again oveneaa raaema wan depleted. On official insistence the banks were obliged to faaneehnporta landed nndcr the licences toned and to support the drrriepawwt of local industry the Bank's advances rose rapidly in the first half of the year. It has since proved difficult to reduce then more than seasonally. Restraint of bank lending alone to nor longer a suitable or adequate method of attacking excessive demand. The main awvcmtwta hi the whole of the operations of the Bank of New Sooth Wales were as follows: Deposits BANK OF NEW SOUTH WALES Total deposit items increased by . £13.000.000 to £711.000.000 on Seotember 30, but deport*in New Z«S BANK OF NEW SOUTH WALES were practically unchanged. Deposit* of SAVINGS BANK LIMITED the Bank of New South Wales Saving* CONDENSED CONSOLIDATED BALANCE SHEET Bank Limited, which is not permitted to AS AT 30th SEPTEMBER 1961 operate in New Zealand, rose by assets £ £18,000,000, and the number of it* Coin. BulUon, Noeta, and Cash at Banksr* 38,423,341 account* has exceeded one million. Money at Short Call—AuttraUa. .. .. Short-dated Treasury Bills—Australia and Advances Stauner? Reserve' Deooelt’ Account ‘with W ’ 4SO,MO Total advance* in the consolidated toth ’ Bank of »><»«.«» balance sheet fell by £9,000,000, which New Zealand 9,62*,702 included a decream of £14,000,000 in the trading bank and a growth of £5,000,000 Due by Other Banka 11384.412 in the savings bank. In New Zealand £401,624,62* advance* increased by almost £8,000,000, Loan* and Admces to Customer* and retez AAm tvvn ‘ Local Discounted • ■ ■■ ■■ 329,530,813 (LINZ. 6,300,000). Share* in Subsidiary and other Compania* 5.316,808 Accrued Interest and Sundry Balance* .. • 2.8*1,909 p ro fjt ® tnk P™d*e* .. 14,100,000 Consolidated net profit for th* year wa* £753,454,160 which wa* equivalent to LIABILITIES £ 7.17% of consolidated capital and leaned and Paid-*? Capital .. 21,950,000 reserve fund*. uS££lsEd*F«i ZZ ZZ ZZ ZZ ZZ Deposits, etc.. 711,488.847 n?.4.4.-Notes in Circulation .. •• •• •• .. 80,872 UlViaenuS Due to Other Banks 2.050314 Total dividend* for the year ended Propoi « FiMl 493.873 September 30 were £1,975,500, or 9% £753,454,160 on capital. ' AU figures quoted are in Australian currency. BANK OF NEW SOUTH WALES Oldest and largest trading bank operating in Australia and New Zealand A CENTURY OF SERVICE TO NEW ZEALANDERS NZ6113 Here it is t DRIVE IN • off Montreal St. • off Moorhouse Avenue AMPLE PARKING in yard at rear of STEEL and WALLBOARD STORES and BUILDERS HARDWARE SUPPLIES 577 ASAPH I ST. 1 .j. I AULZEMOQKS | I l*< [ ® WALKER I I ■. I I ! ST. DAVID II Iji Id —MOORHOUSE AVE. JOHN BURNS ,4 Phone 65-299. P.O. Box 642. JjSiA Jill Safe MBF M| : I - • Proved 80% /C K effective OBTAINABLE ONLY MmOBSI FROM CHEMISTS 9 u.u. | B || OatoiWewM* tart Me-. necked toe «a M <rf What Relief! l.l Dou’ttatsmaraag.wort-wrafyfee* "* ”*** 7* •*"***’• ■* TOOMIfS gjg tj Maaalactatwd by w. TOOMEY LTD, wKSSm ’ **• ’”*• 25 id - Christchurch. Thaw 42-551. - < t r