Page 4 Advertisements Column 1

Clutha Leader, Volume I, Issue 44, 13 May 1875, Page 4

Nflw Ai73rfcLaa limits. BANK OF NEW ZEALAND. THE ordinary half-yearly general meeting ofthe bank was held on the 29th uir., in bank buildings in Queen- street,— the Hon. James Williamson, M.L.C., in the chair. ■ The Txspeotob (D. L. Murdoch) read the advertisement convening the meeting, also the half-year report, as follows :— , _. £ • , Twenty- seventh Keport of the Directrrs of •th- Bank of New Ze\'au<i, to the Halfyearly General Meeting of the Propne'ore, held at the Banking-house. Auckland, on Thursday, the 29th April, 1875 . Thr directors are enabled again to meet Bhareholders with, a report *>nd balance-sheet which cannot fail to be satisfactory . The net profit at $ist March, after making very full allowance for all bad and doubtful dependencies, and towards reduction of Bank premises and furniture ac- • courts amounts to - L48,058 4IU * To which has to be added - B »lance of undivided profit at 30A September, 1874 : Ll3 916 6 3 Malting a total available for division of . . 161,974 11 1 The fol ow.ng appropriation of which is now recommended To payment of dividend at the rate • of 10 Per '■ cent, per an- . num . . 130,000 0 O ' To bonus of 5s per . share, equal to & per cent par "• , annum . L15.000 0 O To balance carried « * to - profit - and loss new account . . L16,974 Il_l 1 . The dividend and bonus will be payable .at head office, Auckland, to-mor=ow (Friday), the 80.h April, and at the branches on rteeipt ol advice. For the Board of Directors. Jakes Wili^amso*, Chairman. Aggregate Balance-sheet of t^ bank^of New Jteallna at 31rt March, 28*S> ™^*B London Office to 31st December, 18T4. T>r 1j s. a. BankStock . . • «JOOO 0 0 FeseryeFand . . • 55522 0 0 yotes in circulation .^ . .4gß 4W> 0 0 Bills payable in circnlamn . 1.450 368 0 0 Deposits and othtr liabilities 3,884,117 15 3 Balanco 0 f profit and loss at „,,»-„ 30th September, 1874 . 13916 6 3 Net profit for half-year . 48,038 410 16^644880 6 10 (jp L s. d. Coin and cash balances' . 507403 Oil Bullion on hand and in tranB fcn . 256664 12 10 Povermnent securities . 900,000 0 0 Landed property, Bank premUes, furniture, &c. . 102,620 1 3 Bills receivable, and securitieam London . . 1477,029 8 6 Bills discounted, snd other debts due to tbe Bank 4001163 3 4 L6644880 6 10 " With reference to the eredit side," the Lsspectob said, "I have the permission of the chairman to call attention ofthe shareholders to one or two slight alterations made in the arrangement of the different items. Previous balance-sheets separated the landed property from ' bank premises and furniture* ; why I cannot say, except that plan was adopted at first, . and has since continued. The effect of it, however was to enlarge the balance-sheet without any good reason for it. The landed property, which hitherto haß been regarded as a separate item, is simply the land upon which the ' bank premises * stand.^ Therefore there is no good reason why it should be separate from those other items. As to the second, *^ills receivable and securities in London,*' * bills discounted and other debts due to she bank,' these have hitherto been included nnder one heading, bills receivable, bills discounted, and other debts ue to the bank.* But for various reasons .—among others the adverse comments which have appeared in some portions of the Press during the last half-year— it has been thought by the directors desirable to shew against bills in circulation on the opposite side that there is held by the bank bills receivable and securities in London to the amount set down under that head— L1,477,029. This item has been deducted from the general bead of 'bills receivable and bills discounted, and other debts due to the bank.* 'Tbe directors are of opinion that the alterations referred to make a better division of tbe * headings * of the items, and "% bone tbe shareholders will agree with them.*! TROUT. AND ZASS iCCOTWT. Dr J - L s. d. To dividend at the rate oivlO per cent, per annuiqu . 30000 0 0 To dObus of 5s per share, equal to 5 per cent . 15,000 0 0 To balance carried to profit and loss, " new acount " . 16 974 11 1 L61J74 11 1 Cr L s. d By balance of profit and Ins* : at 30:h September, 1874 33 916 6 3 By. nee, profit for halt-yea", after writing off bad debts 48 058 410 L61974 11 1 BZSSKVB FOOT?. Br Ti s. d. '*- To balance , . . 180000 0 0 LIBOOOO 0 0 Cr L. s. d: By balance from last statement 180,000 0 0 . ' " ' LIBOOOO 0^) Audited i P. Dignan « .;' . V'his. J.Taylos, On tbe motion of tlie Chaibma** who „ said the result lof the year's operations was veVysal^afap^Jry, seconded by ©r Campbell the report and balance eheet were adopted y n&n. co*./ '• " . : '- .... \ y ,-V"'" - A vote ol thanks was passed to directors •''..-' : and ofiowra of the Bank, ' ■y. ■■-■-'• a- y ,y -:* v-fßftm CftwaMAWi in rising to move the. .., adoption of: the r^portfLMul,: > Jn; moving the adoption of^tho reporjtrand balance- ' sheet wbiclitoe|ast been read, it devolves on me Jfew rmar>s, on matters ''•■WSS^VIa^aFmSAr oP ffl nasi - hairyear. \I lieed tiot comtrcnt on the reporf; wflidr ; ?_iam sure -will commend it&S «o\fh^rtold«r«^ feenewHyi tndf^il only hotlec tbat one gratifying feature in it