THE BANK OF NEW ZEALAND. ANNUAL MEETING.

Evening Post, Volume L, Issue 53, 30 August 1895, Page 3

THE BANK OF NEW ZEALAND. ANNUAL MEETING.

The annual meeting of the Bank of New Zealand was held in the Chamber of Commerce this afternoon, Mr. W. Watson, the ¦ President, being in the ohair. There was a large attendance of shareholders. The report and balance-sheet were as follows : — The Direotors have to submit to the proprietors the annexed balance-sheet of the Sank for the year snded 31st Maroh Imst. It will be seen, that it is necessary to make provision for bad debts to the extent of .£376,898, after writing off reserve fund £45,000, and balance of profit and loss .£383. The retiring Direotora are Messrs. Booth and Maparthy, who are eligible for re-elec T tion, and are the qnly candidates. During the yearbrancheajiave been dosed at Cromwell, S;denham,Dargaville, Bussell, Kawakawa, Aratapu, Shannon, and Newcastle (New South Wales) The business of other Banks has been taken over at Whangarei and Tautanga.W. Watson, President. BalancE'SHXEt at -31st MAjtcn, 1805. IIAJILITIIS. Capital— £ s. a. £ s. d 4 per cent, guaranteed stock ... U.000.P00 o'o 100,000 stares of ' £5 5s each ... £35,000 0 0 50,000 shares at £7108 375,000 0 0 Call of 1895 account 159,745 9 2 3,059,7*5 9 2 Beserve fund .' ... ... «,000 '0 0 Notti in circulation. 468,195 0 0 Bills parable ta circulation ... 1,486,891 3 5 Deposit! and oilier liabilities ... 7,222,201 IS 1 Balance, profit and loss account 383 11 1 £13,282,416 19 9 AIBBTB. Coinandcuhhalsncesatßankers 1,302,039 5 10 Bullion on hand and intrantitu 92,185 3 11 Investments 830,213 0 4 Bills receiTable and Mil* dis- • counted ..: ... • . .' -..: 2,112,347 13 0 Other adrances and securities, and debts due to the Bank ' ... 5,203,149 13 10 B.N.Z. Estates Co., Ltd., share* . (par ralue as per statute) ... 1,850,000 0 0 Landed property bank premises, 4c 419,931 210 Bad and doubtful delta ... ~l 422,281 0 0 Deduct Beserre Fund £45,000 ¦ ¦ and profit and lots balance V £383 lls Id, tearing net) amount £376,897 8s lid j £12,282,416 19 9 Dr. nopir ud loss account. To lost for year' ending 31st March, 1895 -37,350 6 0 Balaaoe >.. 383 11 1 f. £37,739 17 1 Cr. - ¦ , By balance from Tear "Ending 3lßt -March, 1894 .". • 37,739 }7 1 £37,739 17 1 Dr. . usnvi rose ,To balance £45,000 0 0 Cr. By balance from. year ending 31st March, 1894 ... " ... £45,000 0 0 C. G. AHDBSWB, - - Acting-General Mariager. EICHAKD W. GIBBS, Acting Accountant, I hare examined the books and accounts, cash and securities at the 'Wellington office, and the certified returns from the Bereral branches and agencies, and find that the aboro balance-sheet has been correctly compiled therefrom. J. M. Birrr, Government Auditor. The'Prandeut said -.— The balance-sheet of the Bank for 31st March, 1895, and report of the' direotors, is now in your hands. In view of the measure before Parliament, mnd the very full discussion on the figures of both the Bank and the Estates Company at present going on, your direotors think it would be out of place to-day to discuss the Bank's affair*, or pass sny resolutions regarding them beyond the neoessary eleotion of direotors in room of those who have retired. As Btated in the report, Messrs. William Booth and Thomas George Maoarthy are the only candidates, and as they have complied with the necessary formalities I have therefore to declare these gentlemen duly elected, I move that this meeting do now adjourn' until Friday, the 6th September, at 3 p.m., at this plaoe, and I may state that your directors then propose to enter exhaustively into the whole position. The Bon. W. W: Johnston seconded the motion. ' Major Messenger asked what position the shareholders would be in if the legislation before the House passed. Would those who had taken up shares still be shareholders? The President said he "took it that those who had taken shares in the' past would still be shareholders. Their goodwill would atill be preserved to them. . Mr. A. Blanehard suggested that the meeting should allow matters to be oonsidered tub jiidice. He thonght it a singular thing that the figures in the balance-sheet had not been available to shareholders before now. He suggested that if the meeting was adjourned shareholders shonld be allowed to ask questions next Friday without notice. The President said he should answer any qneation* without notice, provided they did not affeot the stability of the Bank The motion was then put and agreed to, and the meeting terminated.