Page 5 Advertisements Column 1

Clutha Leader, Volume I, Issue 19, 19 November 1874, Page 5

Late Advertisements. ANK OF NEW ZEALAND half-yearly meeting. The half-yearly general meeting of the 'sharholders of the Bank of New Zealand was held in the Board-room, Auckland, at noon, ;on Wednesday, the '21st ult. About twenty shareholders were present. Kir. C. J. Taylor occupied the chair, and read the advertisement convening the meeting. Mr. D. L. Murdoch "then reaoVthe^minutes of the. previous meet•ing, which were confirmed, and afterwards the follbVinfc report and balance sheet:— Twenty-sixth Report of fhe Directors of the Bank of New Zealand to the Half -yealry General Meeting of the Proprietors, htld at the Banking-house, Auckland, on Wednesday, the 21st October, 1874. The Directors have pleasure in congratulating shareholders on the continued success of the Bank 1 * operations, as evidenced in the following report and balance sheet:— 'The net profit at 30ib. September, £. a. <£. after making ample appropriation for «U bad -and doubtful dependencies, and for reduction of Bank premises, bud fttrriiture . accounts, amounts to •.-. . . 45,703 16 10 To which has to be added : Balance of undivided proiitatSls't March, 1874 -.-. .. 13,202 '■* 5 Making « total available for division of 58,916 0 3 'The following appropriation of which is now recommended : — To payment of dividend at the rate of 10 L sd per cent per annum 30,003 0 0 'To bonus of 5s per rilare, etjUal tp £ per cent, per annum .-. 15,000 0 6 To balance, carried to profit and loss new account .. v. 13,916 6 3 „ ~ 58,916 6 3 The dividend and bonus will be payable at head office, Auckland, on Friday, the 23rd October, and at branches on receipt of advice. For the Board of Directors, Charles J. Tatlob, Chairman.

Aggregate Balance-sheet of the Bank of New Zealand at 30th September, 1874 including London Office at 3 1874. Dr. & a. d. *Barik Stock 600,000 0 0 Reserve Fund 180,000 0 Notes in circulation .. -. .. 421.158 0 0 Bills in circulation 1,233,817 16 1 and other liabilities .. 4,254,340 14. '3 Balance of profit and loss account at March 31st, 1874 .. .. 13.-212 9 5 Net profit for half-year .. .. 45,703 16 10 6,748,262 16 7 Cr. & s. d. ■Coin and cash balances . . . . 459,452 ?4 2 Bullion on band and in transitu.. 374,351 10 5 Government securities .-. .. 300,000 Q 0 Notes and Bills of other Banks .-. 4,012 16 3 Landed property 25,506 4 0 Bank premises, furniture, and stationery .. ■. 72,197 17 4 Insurance account 2,461. 1 8 -Bills receivable, bills discounted, and other debts due to the Bank -5,510,280 12 2 '6,748,262 16 7 PROFIT AND EOSS ACCOM*. Dr. £ b. d. To dividend at the rate of 10 per cent, per annum -.-. -.. .. 30,000 0 0 To bonus of 5s per share, equal to 5 per cent 15,000 *0 0 "To balance carried to profit and loss, " new account " . . . . 13,916 6 '3 58,916 6 3 Cr. £ b. d. By balance of profit and loss at 31st March, 1874 13,212 9 5 By net prefit for Tißlf-*year, after writing off bad debts -.. .. 45;703 16 10 BBBERVE FUND. Dr. £ b. d. "To balance 180,000 0 0 Cr. - £ c. dBy balance from last statement .. 180,000 0 0 180,000 0 0 Audited I P ' DIGNAN Audited j- jAMEB -watts The Chairman said, in moving the adoption of the report which bas just been read, it is' no small satisfaction to me to have only matters ot a congratulary character to which to refer. When I had the pleasure to occupy this chair at our last meeting, tbe prospects of business appeared to warrant me in holding out a hope of the result cf this half-year's operations being mpre satisfactory than the previous one, and I am glad to point to the report which has Just been read as evidence that I wsb nol wrong in my anticipations. We have had, on tbe whole, a very, satisfactory 1 half-year j business, as shown in the balancesheet* has been well maintained, and rates, though considerably lower than in Australia, have not been disturbed, and have yielded a fair return on the Bank's operations. Although we must reckon on fluctuations m bushiest, I see nothing to prevent a continuance of at least as favbrable results; but this is a matter which restsvery mufch in shareholders' own band?, as it is no small degree to their support and influence that we are indebted for the position the 'Bank occupies. Wiih the assistance of shareholders, nnd the same support from the public which the Bank is ever ready to 1 reciprocate with liberal dealing, ' its position rriay not only be maintained but improved, and with improvement we may 'reasonably look for increased profits. Durirjg tbe half-year there has been ample outlet for money, and the Bank's resources have been very actively employed. I understand that although the import trade of the Colony has continued heavy, and tdfe demand for goods has been seriously affected by the unusually severe weather which has given us this yeai at least four months of winter, the prospect) of theseason are reckoned fairly satisfactory We know that the population is steadily ah< largely increasing, that public works an being vigorously prosecuted; and the loca arket for staple products is well maintained tad though there has been a depreciation ii