Page 2 Advertisements Column 3

Mount Ida Chronicle, Volume XI, Issue 606, 14 May 1881, Page 2

Ilafilit Jipfirfros, ANK OF NEW ZEALAND. REPORT OF PROCEEDINGS. . - . . . AT THE HALF'YEARLY- GENERA!, MEETING OF THE PROPRIETORS, HELD AT AUCKLAND OIT • -ISBUnSDAX, AERIL The half-yearly meeting of shareholders was held on Thursday in the chief office, Queen street, —the Hon. James Williamson in the chair. The General Manager (Mr D. L. Murdoch) read the notice convening the meeting and the minutes of the previous general meeting, also the report and balance-sheet, as follows : The Thirty-ninth Report" of the Directors of the .Bank of New Zealand, to the Half-Yearly General Meeting of -tlie Proprietors, held at the the Banking-house, Auckland, on Thursday, 21st April, 1881. , .The, Directors have pleasure in submitting to Shareholders the following Report and Balance-sheet for the half-year ended 31st March. The Net Profit, at that ,dato, after ample appropriation for -all known bad' or doubtful debts, and in reduction of Bank Premises and Furniture Accounts amounts to .. .. £76,464 9 6 •To which'has to be added—; • • . \,,i Balance irom • Half-year ended 30th September, 1880 .. .. .. .. .. 23,337 6 9 Giving a total, available for division 0f... .. .. .. ..£99,801 16 3 The following appropriation of which is now recommended— f To I'ayment .of Divi-,. r ' )} dend at'therate' of 10' '■ . per cent, per annum £50,000 0.0- ■ To Bonus of 5s per- . ' share, equal to. 5 per ■■ ■ ; ■ cent, per annum : .. 25,000 0 0 To Balance carried to Profit and Loss New -Account. .. 24,801 16 3 — r — £99,801 16 3 The Dividend and Bonus will be'payable at Head Office, Auckland, to-morrow (Friday), 22nd inst, and at Branches on receipt of advice. . - For the Board of Directors. James "Williamson-, . ■ ■ ' -Chairman. Aggregate Balance-sheet of the Bank of New Zealand at .the'3lstMarch, 1881, including London Office at:3lst January, 1881. Dr. Liabilities. £ s. <J. Capital; :. .. 1,000,000 0 0 Reserve Fund .. . 555,000 0 0 Notes in Circulation : ■■■:<.. 473,233 0 0 Bills Payable in Circulation .. 1,875,014 1G 11 Deposits andother Liabilities :. 7,992,405 10- 1 Balance of Profit and Loss .. 99,801 16 3 £11,995,455 3 3 Cr. .. Assets. , £ s. d. Coin and Cash Balances at Bankers .. .. .. .. 1,732,833 13 0 Money on Short Call in London.. 675,900 0 0 Bullion on Hand and in Transitu 230.083 15 9 Government Securities,;.. .. 246,513 15 0 Bills receivable aud securities in London ~. , ... ... .. 2,088,615 15 1 Bills ; Discounted, and other' ' ' •: Debts due to the Bank ; .. 6,796,416 19 5 . Landed Property, Bank Premises, • &e. .. .. .. .. •225,091 5; 0 '• ' £11,905,455 3 3 • .'■■■' ■'PROFIT AND 1 LOSS ACCOUNT. ; : Dr. H/, s. d. To Dividend on 100,000 shares of £lO each, at rate of 10 per cent, per •annum' .. .. ;.••• . ... ......,60,000 0 0 _ .To Bonus at rate of 5s per share, equal to 5 per cent, per annum .. 25,000 0 0 To Balance carried to Profit and Loss New Account- 24,801 16 3

' £99,801 16 3 : • Cr • £ s. d By Balance from half-year ended 30th Sept., 1880 ;. .. -23,337 6 9 1 1 ?'BxNet Erofltior half-year.ended. ■ 31et March; 1881 / ■, .. .. 76,464 9 6 Ml.vjjv. ii'x,:. ' > ' > • r I £09,801 16 3 ',1.*.;,' RESERVE FUND. i ... Vr. ........ £ s. el. ■J; "Toßalanco .. . .. ...'655,000 ; 0 !, 0 .... . £555,000 0 0 By Balance from half-year ended '3othSept., 1880 ..= .. ' 555,000 0 0. _ , , . £550,000 0 0 we hereby certify that we .have examined the accounts of the Bank of New Zealand for the half-year ended 31st March; 1881, and that wo have the cash balances and examined tne bills and other securities hold atthe"Head Office, and compared' <the<returns,of; the Branches; with ..the statements in foregoing balance-sheet, and have found the same to be correct. . _ " '/• , * (Signed) Auditors^ ..Jffie.Chairman, In moving the adoption of the report, said: —Greriflemeh7 th¥ - report" arid" balance sheet which have Just been, read, beyond affording evidence of the continued success of our operations, do not, as compared with previous statements present any features so marked its to call for more than mere passing notice. The principal difference in the figures in the balance-sheet will be observed in the amount of bills payable m circulation on the one side, and m bills receivable and securities in London on the.; other—the latter item being swollen over a million partly by the more profitable investment of about £770,000 of money which at. date: of last statement, was on short call in London, and the balance being due to the more , active . exchange • operations of the period of the year,' the past six months comprehending the wool season,-when our remittances are much increased. The bills in circulation, representing the current outstanding bills on London and elsewhere, havenaturally been consider-' ably swollen by sale of exchange to provide payment for these remittances. It will be observed that our resources remain abundantly ample for every contingency, and while not disposed to encourage or foster speculative business, we are fully prepared.to take advantage of any.opportunity largely to increase legitimate transactions. It' will not be expected, withso large an amount of the Bank's resources invested in securities affording a narrow, margin, of profit, that the resultofthepasthalf-year'soperatiohs caa.fihow any material increase, but our-profits have Been more than maintained, and that under the ■ heavy taxation of the past year, towards which this .Bank ,has ,contributed,nearly £17,000. lam glad . however, to congratulate shareholders on our ability' to maintain our usual dividend, and to carry forward suchan amount as practically ensures the continuance of a like return.for next half-year. I will only add one word more of congratulation, to shareholders on ™P r °TOd and improving condition of the Colony. Public finance appears now to have attained a: stable and healthy condition, and with [continued prudence we may reasonably hope to see the credit of New Zealand second to none of the Australasian Colonies. Trade is gradually but surely progressing, population fast increasing, settlement (both North and South) lapialy extending, and we lia,ve been favored with z most bountiful season, in both pastoral and agricultural pursuits. _ With these few remarks I beg to move the adoption of the Report and Balance-sheet as read.

To'the Warden at Naßeby. May sth. I Hereby Apply for .a lease of land for agricultural purposes, situate at Bock and Pillar Survey District, being section 34, Block"VII., in said District, an:l composing 168 a Or 35p, or thereabouts, in accordance with the Agricultural Leases Regulations made under the limes Act, 1877.. , HUGH RUSSELL, junr., Taieri Beach. _The above application will be heard before me at Hyde, on the 16th day of June, 1881. - . : ARTHUR D. HARYEY, j■ ' pro.Warden. pPLIOATIOy FOR AGRICULTURAL LEASE r To the "Warden at Naseby— ,j . /.. May sth. I, Hereby Apply for a ]ea;je of land for agricultural purposes, situate at Rock and Pillar district, being section 32, block VII., and comprising 200 acres 0 roods n perches, or thereabouts, in accordance with the .Agricultural Leases Regulations made under the Mines Act, 1877. THOMAS CALDWELL, Taieri Eeacli. The above application will be heard before mo at Hyde on the 15th day of June next. ARTHUR D. HARYEY. pro. Warden ; PPLIOATIOKT FOR' AGRICULTURAL LEi.SE To the Warden at Naseby May sth I Hereby Apply for a lease of land for agricultural purposes, situate atßock and Pillar District, beingsec--33 blk. YlL.and comprising 200 a Or Op, or thereabouts m accordance with tno >.,r. t Leases Regulations made under " The Mines Act, 1877 " ° ALEXANDER TEVIOTDALE, Fullartons. The above application will bo heard before me, at the Court House, Hyde, on the.lsth day of June, ARTHUR D. HARYEY, • pro. Warden. o E S A L E • 30 SCRIP in tlie UNDAUNTED WATER RACE CO., Naaeby. TENDERS will be received by Messrs Inder and George on or before TUESDAY 31st MAY. No tender necessarily acoept.ed'