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Late Advertisements. THE COLONIAL BANK OF NEW ZEALAND. TWENTY-FIFTH EEPOBT OP THE DIRECTORS TO THE HALF-YEARLY MEETING OF THE PIJOPR ETORS, ' To be held at the Bank, Princes street, Dunedin, on Wednesday, 2<3th January 1587. The Directors beg.t* submit to the Proprietors the accompanying Balance Sheet aud Statement of Accounts for the Half-year' ended 31st December last. The net profits for the Half-- ear, after deducting interest paid *nd accrued on fixed deposits,' rebating bills un 'er d.scount, and charging all expenses of management, rent, &c, and duly provid ng for bad ana doubtful debts, amount to ... £17,105 14 11 To this has to be added balance from last half-year ... ... ... 5,419 13 3 £32,585 7 2 And thero must be deducted tax on note circulation and Property Tax ... 1,943 0 0 Leaving available... ... ...£20,642 7 2 Which the Directors recommend to be applied as follows :— To Kesorve Fund (which will then etaud at £17,000) ... £1,000 0 0 Payment of Dividend at the rate of 7 per cent, per annum on the pa-.d-up capital... 14,000 0 6 Balance to be carried forward ... „. 5,643 7 8" . ,£20,642 7 2 - ' Upon confirmation by the Proprietors of 'the .foregoing appropriations, the Dividend will be payable at th.il lea > Office on and after 27tn inst., and at the Branoheson receipt of the warrants. John Thomas Wright, Bsq . is rhe Director who retires from the Foard at this meeting in accordance with claus 42 ot the Deed of Settlement, and being on the eve of departure for England he does not offer hinibelf for re-election The Hon. a i chard Oliver is the only candidate for the vacant seat. Both the Auditors retire irom office «t the p esent meeting. One only, Keith Kamsay, Esq ,is eligible lor re-e ection, ana he offers himself accordmkly. As i t muted by the Chairman at the last halfyearly meeting, it is in contemplation to alter the Bank's halt yearly balance dates from the 31st December and 30bh June to the last day* of February aud August, and i he Directors will at this meeting submit- for approval of the shareholders' resolutions necessary to effect this change. Should such resolutions be passed they will require to be confirmed at' the half-yearly general meeting which will be held in July next, and of which due nooice will be given. v. GBO. M'LEAN, llja Chairman. BALANCE SHEET of THE COLONIAL BANK OF NEW ZEALAND, as at 31st December 1886, including London Office at 30th September 188t5:— Dr. S ' s. d. Capital, £2 paid up on 200,000 shares 400,000 0 0 Notes in Circulation ... ... 110,952 5 0 Bills Payable aud other Liabilities ... 91,815 3 0. Deposits ... ... ... 1,504,247 16 7 Balances due to other Banks ... 52,901 12 7 Reserve Fund, ... ... ... 46,000 0 0 Profit and Loss,,, ,„ ,„ 20,612 7 2 £2,286,559 4 4 08. £ B. d. Coin and Cash Balances ... ... 288,648 4 9 Bui ion on" hand and in transitu ... 12,280 0 4 Government Securities, 3 per cent. Consols, and Colonial Debentures... 99,876 11 9 Notes of and Balances due by other Banks ... ... ... 54,306 7 9 Landed Property and Bank Premises 108,664 '5 10 Bank Furniture aud Stationery ... 8,851 18 0 Bills Discounted, Bills Receivable. and all other debts due to the Bank 1,713,931 15 II £2,28^,559 4 4 PROFIT AND "LOSS ACCOUNT. Dr. £ c. d. £ p. *d. To Transfer to Reserve Fund, in accordance with resolution of Proprietoi s at Halfyearly Meeting on 28th July 1886 ... 1,000 0 0 „ Dividend at 7 por cent, per annum on the paid-up Capital at 30th June 1886 ... 14,000 0 0 15,000 0 0 „ Charges for the Half-year, including Rent, Taxes, Salaries. Remuneration to Directors and Auditors, and all other expenses, at Head . Omce and 23 Branches ... 21,800 510 „ Tsx on Note Circu ation ... 1,063 10 2 „ Property Tax on Paid-up Capital and Reserves to 31st December 1886 • ... .... ... 879 9 10 „ Proposed Addition lo Reserve Fund ... £1,000 0 0 „ Proposed Dividend at the rate of 7 per ceut. per annum on the I'aid-up Capital 14,000 0 0 „ Balance ... ... 5,042 7 2 20,642 7 2 £59,475 13 0 Cb. £ g. d. By balance Profit and 'Loss at 30th June 188ti ... ... ... 20,419 12 3 „ Gross Profit for Halftyear (after making provision for Bad and Doubtful Debts, Inten st paid and accrued on Fixed Deposits, and Rebate on Bills current) amounts t0... " ... ... ... 39,056 0 9 £59,475 13 0 RESERVE FUND. Dr. £ a. d. To Balance ... ... ... 47,000 0 0 ; £47,000 0 0 Ch. £ s. d. By Balance 30th June 1886 ... 45,000 0 0 „ Transfer from Profit and Loss, 28th Julyl88« ... ... ... 1,000 0 0 „ Proposed Addition now ... 1,000 0 0 £47.000 0 0 GEO. M'LEAN, Chairman. H. MACKENZIE, General Manager. We have examined the Cash and Bills on hand at Head Office, and compared the Attracts of Balances from i he various Branches, and certify the foregoing statement to be in accordance therewith and correct. A. BARTLEMAN. 1„,»1 *„,», rtp , KEITH BAMSAY,; Auditors. Dunedin, loth January 1887. 14ja Farm for Sale. THE Undersigned hereby offers for Sale the whole, of his very desirable FREEHOLD PROPERTY onJVVairuna Flat, near Clinton, consisting of 132 acres of Excellent Land, being Sections 1 and 2, of Block XI, Pomahawk district 88 acres of the above are laid down in English Grass, and 44acres are under Crop. • The whole is subdivided into oiz paddocks, and thn other improvements consist of four-roomed Dwelling House, Stable, Barn, Cow Shed, &a ' ' For particulars apply to the Owner, ' THO§. tfAPDBN. Waimo'a, vtewc Clmtow, Dec, Jff, j«8B. isfo

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https://paperspast.natlib.govt.nz/newspapers/OW18870114.2.63.4

Bibliographic details

Otago Witness, Issue 1834, 14 January 1887, Page 20

Word Count
915

Page 20 Advertisements Column 4 Otago Witness, Issue 1834, 14 January 1887, Page 20

Page 20 Advertisements Column 4 Otago Witness, Issue 1834, 14 January 1887, Page 20