BANK OF NEW ZEALAND.

New Zealand Herald, Volume XXXVIII, Issue 11716, 26 July 1901, Page 3 (Supplement)

BANK OF NEW ZEALAND.

- ': - Wellington, July 7. The balance-sheet of the Bank of New Zealand was laid on the table of the House this afternoon. ':: : ■'.'■■•..-;/■ -'■//;-./;.: /■; ', , V /The profit and loss account shows the gross profits to be £469,291. The expenses /of management,'-; : ) including v rates ■'. and '■'; taxes; totalled £169,049, leaving a net profit of £300,242. This is further reduced by the payment of £80,000 interest on guaranteed stock, and ;; £9577 interest on preferred shares up :to date : of: repurchase, leaving available £210,665,'which,has been disposed of as follows: —To extinguish debenture consversion' account, : £35,360; to extinguish Colonial Bank goodwill account, £60,000; written off Estates Company's assets in liquidation, £17,0001; written off Colonial Bank property and premises', £10,000; written off bank property, premises, , and furniture, £38,305; to be paid to Assets Realisation Board, £50,000. '://-. < ■'./■-.The liabilities :■Ordinary capital paid up by shareholders, £421,860 ; reserve fund (invested in*/ New Zealand consols); £23,474 ; note circulation,/ £770,729 ; bills payable, £1,170,030 ; deposits, £8,682,504 ; otter liabilities, £115,910; bills rediscounted in London, > £274,956. The total liabilities, including the two million guarantee, and the £50,000 balance of profit, to be paid to the Assets Board, is £13,509,464. v The assets show:—Coin ; and ■■■■■■ cash, £1,456,119; Bullion, ; £98,010 '■- money at call, short-notice bills receivable; and Government and other securities in London, £2,523,089 ; investments /in the; colony, £2,507,584 (of which £1,625,000 'is in Assets Board debentures); ; bills discounted, £2,080,832; V other advances, - £4,111,188 landed property, premises, etc. £388,762 Estates Company assets in liquidation (book value), '■■;■ £289,479 ; Colonial Bank property and premises, £45,398. ■ , . , •