BANK OF NEW ZEALAND.

Hawke's Bay Herald, Volume 14, Issue 1149, 3 May 1870, Page 2

BANK OF NEW ZEALAND.

The half-yearly meeting of the proprietors was held at the banking-house, Auckland, on Wednesday the 27th April, 1870, when the following, being tho seventeenth report of the directors, was submitted:— The result of another half-year's operations enables the directors to meet the shareholders with a report which they trust will be considered satisfactory. . The net profit at 31st March, after making most liberal provision for evory bad or doubtful dependency, and appropriations in reduction of Hank - premises 'and furniture accounts, amounts to £10,974 5 G To which has to be added— Balance of undivided profit at 30th September, last £1,539 3 5 Leaving now availablo for division £45.513 8 11 Of which the directors now recommend tho followiug appropriation :— To payment of dividend at the rate of 10 per cent, per annum ... £25.000 0 0 To bonus of ss. per share, equal to 5 per cent, per annum ... £12,500 0 0 To balanco carried to Profit and Loss New Account £8,013 8 11 45,513 8 11 The directors think the thro hns now arrived for increasing the resources of the Bank, and with that view an early opportunity will be taken to call tho shareholders together to authorise such increase of capital as may bo determined ou. For the Board of Directors, THOMAS RUSSELL, President.