Page 16 Advertisements Column 1

Press, Volume CI, Issue 29994, 1 December 1962, Page 16

“WALES" REPORT, year fded 30J.1962 Less Official Control of Business Redaced pressure in the New Zealand economy has persuaded the Goyernmetrtto start to fulfil its aim of intervening less in business. In spite of rather listless trading conditions recently, therefore, the year has been somewhat encouraging for the bank lending has remained subject to rigorous control credit policy allows for no more than seasonal needs. The trading banks are still not allowed to increase holdings of government securities or to use the new short-term money market. The total operations of the Bank, however, showed very good results for the year ended September 30, 1962. . . In presenting the accounts, the Bank is conforming to the provisions of the Uniform Companies Act in Australia, although being incorporated under special Act of Parliament it was not necessary to do so. Deposits BANK OF NEW SOUTH WALES .... AND SUBSIDIARY COMPANIES Combined deposits of the trading bank CONDENSED CONSOLIDATED BALANCE SHEET and savings bank showed a total of AT 30th SEPTEMBER 1962 £779,000,000. Trading bank deposits ASSETS „„ hv ft? 000 000- denosits of the Coin. Bullion, Notes and Cash at Bankers £41,072,565 rose by £32.000,UW, oeposns 01 me Authori2ed Dealers in Short Bank of New South Wales Savings Term Money Market (Australia) .. .. n. 115.000 „ .. .a e,a non AAA Money at Short Call London .. .- 6.250.000 Bank Ltd. rose £34,000,000. Treasury Bills London 1,500,000 Australian Public Securities (a) Commonwealth of Australia Advances (i> “ d . Tr .“”7 11.200.000 „ (li) Other Securities 169,402,145 Trading bank advances were virtually (j>) Local and Semi-Governmental unchanged, a slight rise in Australia Other — New Zealand, being offset by a small decline in New o ™’;; ;; " " " 2 ’2ss7 Zealand. In the savings bank out- Term Fund Account with Reserve standing loans rose by £7,000.000 to Account" wilh £41.000.000 indicating substantial continned assistance to housing. New Zealand 12,362,785 Cheques and Bills of Other Banks and Balances with and due from Other Banks 13,073,241 Pmfif Bills Receivable and Remittances in **olll Transit and Sundry Debtors •• .. 85,079,161 Consolidated net profit for the year at £465,307,107 £3.294,190 less amount written off Lo Ji^ u *ed anc '* ‘" d .. °. C .* .. • ■ 335.401.825 premises £503.401. represents 7.35% Share. - .. .. <325,156 on consolidated capital and reserve Bank Premises and Sites funds or 12.71 %on capitaL Accru ' d and Sundry Balance * ’' 3 ’ 549 ’--! £823.473,782 Dividends Issued and Paid-up Capital .. ~ « . a . Reserve Funds .. •• •• •: 16,500,000 Ordinary dividends paid and proposed Final Dividend and Bonus Dividend B q . •• •• •• •• •• •• 1,042,025 during the year were at the rate of 9 % Balance of Profit and Loss Account .. 1,711,468 pa. on capital. These were supplemented BaUnce. duern BjnU ._. *.. 2.857,015 by a special bonus dividend of 2} %. Payable and all other Liabilities, including Provisions for Income Taxes and for Contingencies •• .. •• .. 779,412,674 All figures quoted are in .. £823,473,782 Australian Currency BANK OF NEW SOUTH WALES Oldest and largest trading bank operating in Australia and New Zealand OVER A CENTURY OF SERVICE TO NEW ZEALANDERS NZ6212

WE ARE OFF TO THE BUTLER TIMBER CO. LTD. TO OBTAIN AU OUK WEEK-END HOME BUILDING SUPPLIES. 'PHONE 45-106. OPEN SATURDAY MORNINGS. -y 7 o.m. 11 o.m. INVEST IN ESSENTIAL O3K BN| WORK! 3 JEBI JI r v \ wilIlSKeB ChristchurchW| City Council £175,000 | ELECTRICITY EXTENSION OPENS 3rd DECEMBER | | Investments in essential projects return a ffl xSs| double dividend ... top interest rates and l| kH a better way of life! Now is the time to invest $H| In the CHRISTCHURCH CITY COUNCIL essential Electricty Extension Loan. ITO 5 YEARS 4TO 9 YEARS »• YEARS UMBScM SnW || B ePJMKIs ?K7 jE iqis Applications, free o< inland exchange, may be lodged I ml DQmB direct to the City Treasurer. Christchurch City Council, I 149 Manchester Street, Christchurch (Telephone 77-80, collect), or through any Member of a Stock Exchange In New Zealand, or at any branch of any Trading I B] KaM Bank m Ngw Z*alaAd» I Kh A THUSTH IN VESTMENT |LJ| CB Dwrt «rnnf ACa. Minim Win ,i. Sm* |ffi| HR