THE NATIONAL BANK OF NEW ZEALAND, LIMITED

Evening Post, Volume CVII, Issue 143, 18 June 1924, Page 7

THE NATIONAL BANK OF NEW ZEALAND, LIMITED

The general manager of the National Bank of New Zealand, Ltd., has received cable advice from London that tha profit of the bank for the year, to 31st" ¥?£ J?*u' Wt S '^>^>> ■ wu'jch, ■ with £145,667 brought forward from the-pre-' V^J^' makes c amount available1' £389,502. The proposed appropriations are:—Premises account,. ■ £20 000 ••■ re-' Se ooe fund> £10,00a 5 - pensions 'fund, -;. £28,944; payment- of a dividend'of 12 per cent, per annum and-a bonus of 2 per cent, (both free of 'income tax), '. 5^5,000; ( jtp- b e carried ' forward, £155,558. The net profit shown last year was £228,746, .and with the amount broughf forward there was available lor allocation £370,867, while tEis\'ear;the amount is £359,502, or nearly' £19000 o 1?^^^ 1*11 ths "Pr9P° sed: allocation^oE ' iIO.OOO, and the, premiums received/on the new jssue of shares, the'reserve fund will stand at £1,470,000, while. th e : .paidup capital will amount to £1,500 000 and shareholders', funds, including ■ undi--^profit, -1, then ,tand,;- at- ---; The annual meeting of shareholders will be held in Loiidon on 2nd Julv'to bo followed by an extraordinary meet- ' nif, at which will be.submittpcMr resolu!'fV^fc1 th + e, capUal of Ui° bk*k ■■. ■to £6,0J0,000, by tho~ci'ea±ion of 200 000