Page 2 Advertisements Column 4

Oamaru Mail, Volume I, Issue 251, 10 February 1877, Page 2

[advertisement. ]. COLONIAL BANK OF NEW ZEA- / LAND. GENERAL MEETING OF SHAREHOLDERS. The half-yearly general meeting of the shareholders of the Colonial Bank of NewZealand was held in the Temperance Hall on Janua-y 31. The attendance was unusually large, over 200 shareholders being present. Mr. James Rattray was elected to the chair, on the motion of Mr. E. 0. Strode, seconded by Mr. Butterworth. MINUTES. The minutes of the last meeting were read and confirmed. ANNUAL REPORT. The Directors' annual report was then read by Mr. Cowie, and the balancesheet which was printed and circulated was accepted as read. The report and balance-sheet were as follows : The Directors have much pleasure in submitting to the proprietors the accompanying statement of profit and loss and balance-sheet for the half-year ending' 31st December last. The net profit for the half-year, after deducting all salaries and expenses of management, rent and other charges, and after making full provision for bad and doubtful debts, and interest accrued on deposits, amounts to £10,204 1G & To which add Balance of profit and loss account carried over from 30th June last 3,051 3 0 Making a total available I'm division of £13,915 19 5 As may be resolved on by the meeting. The Directors recommend that it shall be appropriated as follows: To increase the Reserve Fund (which will then be £10,000) .. £1,733 0 0 To payment of a dividend at the rate of G per cent, per annum . .«.., on the paid-up capi- •■» • v til of the iiank on >• 31st December .. £9.774 7 2 11,512 7 2 The balance of , £2,403 12 3 To "us carried forward to p oiit ami loss new account lor the current half-year. Upon the for.'going appropriation being confirmed by the proprietor.*, the dividend will be pavable at bead office on an.l after Wednesday, the 7th February, and at brandies as soon as the dividend warrants reach them fro-n Da-iadin, of which due notice will be given uy advertisement The business of the Hank continues to increase an.4 improve at head oifice and branches. In September last a branch was opened at Lawrence, where the pro,grcis already made quite meets the expectations of the Directors. The Hon. Donald Reid, M.IL.R., retires by ballot, in accordance with the deed of settlement, and is not eligible for re-election ; you will therefore be called upon to elect a Director in his stead. The Hon, .Mathcw Holmes, M.L.C., and the Hon. William Hunter Reynolds, M:H:lt., are the candidates for the vacant seat. The auditors retire from office at the present meeting, only one of whom (Mr. Kdmund. Smith) is eligible for re-election. A, CIIETHAM STRODE, Chairman. BALANCE SIiEET, As at 31st December, IS7O, including London Office at 30th September, 1870. Capital paid up to date Notes in circulation Bills payable and other liabilities Deposits Balances due to other banks '. \ Reserve Fund Profit and loss .. ]. '.'. £ J, d, .. s-25,04-:, q a . 62.,0i2j5> 10 0 .. 109,120 12- 4 ~ 413,021 1? 8 .. 11,071 9 8 .. 8,262 0 0 .. 13,915 19 5 £943,96G 10 11 Cr. £ 8- d. Coin and cash balances 114,007 13 10 Bullion on hand and, in transitu.. .. 12,806 13 4 Notes of and balances due by other Banks 7,121 12 8 anded prooerty and Bank premises .. -11,97(5 18 7 ank furniture and stationery .. .. •'■ 6,2tti 19 53 Bills discounted, bills receivable, and all other debts due to the Bank .. ~ 700,248 13 4 £943,966 10 U PROFIT AND LOSS ACCOUNT. in aacordance with resolution of proprietors at half-yearly meeting on 20th July, IS7G To charges for the half-year, including rent, taxes, salaries, remuneration to directors and auditors, and all other expenses at head office and thirteen branches To balance 13,397 3 2 13,915 19 $ £33,746 2 7 By balance profit and loss at 30th June, 1876 By gross profit for half year (after making provision for bad and doubtful debts and interest paid and accrued on fixed deposits) 10,084 3 0 RESERVE FUXD ACCOUNT. £8,262 0 0 By balance at 30th Jnne, 1876 .. .. 1,067 0 0 By transferred from profit and loss, as above 6,433 0 0 By amount paid on shares forfeited during past half year 762 0 0 A. Chetham Strode,