THE NATIONAL BANK OF NEW ZEALAND.
[reuter's telegram.] London, July 15. The balance-sheet of tho National Bank of New Zealand shows the doubtful debts to be £131,000. £100,000 from the capital account, and £10,000 from the reserve fund, have been transferred to a contingent bad debts account. [Bl TKLKGRAPH.—rRESS ASSOCIATION.] JDuNfDiN', Thursday. The Inspector of the National Bank has received a telegram from London intimating that the annual meeting wae hold on Tuesday when the report already telegraphed out was adopted. The bank has written off all ascertainei losses, and in order to make full provision for any ultimate loss from doubtful debts and depreciated securities a proposal to trausfer a turn equal to £1 per share from the capital account to a special reserve fund was favourably recoivodby the shareholders.
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Bibliographic details
New Zealand Herald, Volume XXII, Issue 7382, 17 July 1885, Page 5
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131THE NATIONAL BANK OF NEW ZEALAND. New Zealand Herald, Volume XXII, Issue 7382, 17 July 1885, Page 5
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