THE COLONIAL BANK.

Evening Post, Volume XLVIII, Issue 68, 18 September 1894, Page 2

THE COLONIAL BANK.

BALANCE-SHEET FOE THE HALFYEAR. IBr Tblkgbaph.J | UNITED I'RESB ASSOCIATION. I Dunedin, 17th September. The directors of the Colonial Bank, in the 40th report, to be presented to the halfyearly meeting, state :— The net profit for the half-year, after deducting the interest paid and accrued on fixed deposits, rebating biHs nndor discount, charging all expenses of management, rent, &c, and dnly providing for bad and doubtful debts, amounts to £18,674 6s 7d. To this has to be added the balance from last half-year. .£5731 14s 4d, making- a total of .£2-1,466 Os lid. And there must be deducted the tax on note circulation and Land and Income Tax, .£2238 Us 2d ; leaving available £22,227 11s 9d, which the directors recommend to be applied as follows : — Payment of dividend at the rate of 7 per cent, on the paid-np capital £14,000 0 0 Balance to be carried forward 8,227 11 9 Total £22,227 11 9 A provisional arrangement for the amalgamation of the Bank of New Zealand and this Bank is now before the Legislature, and should they approve of it, resolutions for your approval will bo submitted to you at the meeting.