TWENTY SECOND REPORT OF THE BOARD OF DIRECTORS OF THE BANK OF NEW SOUTH WALES.

Otago Witness, Issue 522, 30 November 1861, Page 9

TWENTY SECOND REPORT OF THE BOARD OF DIRECTORS OF THE BANK OF NEW SOUTH WALES.

- To the Half-yearly General Meeting of the Proprietors, held at the Banking House, on ; Wednesday, 30th day of October, lSdl. . The Directors have to lay before the Pro- I •nnetors the following statement ibr the Halfear ended on the 30th September. £ s. a Ihe undivided Balance from lust Half-year \vs« 55S 18 G The net Profit for the Half-year after ! deducting rebate on Current Bills, Interest on Depos-its, Bad a:i:l Doubtful Debts, and other loiscs amounts to 59,433 15 7 Making together £64.002 14 1 Which the Directors recommend should be appropriated thus — To payment of dividend at rate cf 15 per cent. peraunum 50,250 0 0 To Increase of Reserve, Fund 4,148 O 0 To Balance carried to present half-year...., 3,004 11 5 54,002 14 1 With the above addition to the Reserve Pund *nd the sum of £1,351 17s<-4d. recovered from Debts previously written oiFas bad, that fund will amount to .£218,000. It is with extreme regret the Directors have to report that a loss of £5,100 has been sustained by fraud committed by a former Accountant of the Bank, Alexander Salmon, and the then Head Teller, George P. C. Smith, which has been written off frpm the current profits of the half-year. The Directors immediately on obtaining the sanction of the Proprietors to the New Zealand extension, concluded an arrangement with the Oriental Bank for the transfer of its business at Auckland, Wellington, Wangauui, Dunedin, and Invercargill, and in addition have opened Branches at Christchurch and Lyttelton, and contemplate opening at Nelson. The Local Inspector and Managers report favorably of the prospects and so far justify the expectations formed of doing a remunerative business, while the discovery of extensive and productive Gold-fields in the province of Otago will materially further the prosperity of the Southern Branches? • A Branch has been opened in the rising town of Rockhunipton, in Queensland, and Gold-buying Agencies have been established at Inglcwood, Creswick, and Linton, in the Colony of Victoria, ■while that at Kiandra in this Colony has been withdrawn. Mr. Stuart retires from the Direction by rotation. Messrs. Robert Towns and James Henderson, were Candidates for the vacant seat, but the latter having withdrawn, Mr. Towns remains the only Candidate. Mr. Lotzc also retires from the office of Auditor, •and it devolves upon the Meeting to elect a successor. • The Dividend will be payable at the Head office, to-morrow, and at the Branches on receipt of I advice. Jfor and on behalf of the Board of Directors, Alexander Stcakt, President. AGGREGATE BALANCE SHEET OF THE BANK OF NEW SOCTU WALKS, 30TH SEPTEMBER IS6I. (Including London Branch, to 30th June 1831, and New Zealand Branches, to 2nd Sept. 186 1.) Dr. £ s. d. To Bank Stock 750,000 0 0 „ Notes in Circulation 452,308 0 0 „ Bills Payable 1,G42,030 17 1 „ Deposits and other Liabilities 2,777,759 2 5 „ Reserve Fund 213,851' 17 4 „ Profit and Loss 90,262 4 5 £5,92G,2G2 1 3 Cr. £ s. d. By Coin and Cash Balances 1,021,847 5 9 „ Bullion in hand, and in transit to London, 30th September IS6I 689,592 3 10 „ Government Securities 111,036 14 10 Notes of other Banks 3G,070 0 0 „ Bank Premises 104,713 17 9 Bills Discounted and other Debts due to the Bank 3,955,706 10 fi „ Insurance Account 7,295 8 8 £5,926,262 1 3 PROFIT AND LOSS, 30TH SEPTEMBER 1861. Dr. £ B - u1861. Sept. 30. To Rebate (at current rates) on Bills Discounted not due at this date 26,259 10 4 „ Dividend at the rate of 15 per cent, per annum 56,250 0 0 „ Increase of Reserve Fund 4,148 2 8 „ Balance carried to Profi t and Loss ' New Account' 3,604 11" 5 £90,262 4 5 Cr. £ s. d. 1861. March 31. By Amount from last Account 4,563 18 6 Sept 30. „ Balance of Current halt-year's Profits after writing off Bad Debts 85,693 5 11 £90,262 4 5 RESERVE FUND, 30TII SEPTEMBER, 1861. Dr. £ s. d. 1861. Sept. 30. To Balance 218,000 O 0 £218,000 0 0 Cr. £ . s. d. 1861. March 31. By Amount of last Account 212,500 0 0 Sept. 30. „ Recoveries from bad and doubtful debts 1,351 17 4 Amount from Profit and Loss 4,148 2 8 £218,000 0 0 Audited 29th October, 1861. Edwakd Lotze, l Auditors . James Kckdehsox, J 438 12

The following is from the Talbot Leader, a Victorian journal: —During the shearing at the station of D. Campbell, Eaq, the men employed have been in the habit of racing, the consequence is that the sheep have not been properly sheared, the fleeces damaged, and many of the sheep have died from the Bevere cuts they have received. Mr. Camp- , bell has now agreed with them instead of paying, by. the hundred, to pay them £3 per - "week, -with board and lodging. This they indignantly refused, and the result in, several have left him. Mr. Campbell has quietly let them go, determining to keep those willing to continue on wagis, and, although it may take longer to bring the work to a close, he will have the satisfaction of knowing it will be well done. They continue to deceive themselves with the fallacy that as so many have left for New Zealand, Victoria must be in want of labour, and they can act as they -/, ■ please with their employers; but they will a find at the harvest there will be sufficienl ~y\ reapers for the field, # £}:' ; The following advertisement has appearec ffiin one of the London uewspapers: —" A gen||l#ftJemaii who w" about to leave the house it fe^^iich he resides, and being desirous to returr ||ioil$o" the landlord in the $ame condition ir ibund it, will pay fair price for 50( 4 an acre of poisonous weeds rubbish: the weeds to b< Bwi^BP^S o<2??do<2??de >T > *he rub*>ish left on th< rats suffered to run loos<