Page 2 Advertisements Column 3

Poverty Bay Herald, Volume XVIII, Issue 6026, 25 March 1891, Page 2

THE UNION BANK OF AUSTRALIA, LIMITED. [From the " Mowby Mabkkt Review" of Jauuary 31, 1891.] The half -yearly general meeting of this to the principal interests of the Australian bank was held at the office, Bank- buildings, colonies. Since Lst martfngof >h«eho»dera T „ . . . ' oa . u . . f. branches of the bank have been opened at Lothbury, on Monday, the 2ofch inst. Air Q eor g e . s treet (Centra), Sydney— the other R. J. ABhton presided. branch iv George-street being now designated Mr W. R. Mewburn (the manager) read Haymarket branch— and at Peak Hill, New the notice calling the meeting, and the fol- South Wales ; also at Rupanyup and Warlowing report of the directors and statement racknabeal, Victoria, whilst the branch at of accounts were taken as read : The direc- Port Ahuriri, New Zealand, has been closed, tors have to submit to the shareholders the The directors have to report that they annexed balance-Bheeit of the bank to the 3 1st deemed it their duty to join the Bank of August last, duly audited, which exhibits a England and other large banking and flDannet amount of profita inclusive of the balance ctal institutions aud fiims in the guarantee brought forward from previous half year —of against ultimate loss in the liquidation of the L12L,i55 6s, admitting of a dividend at the affairs of Baring Bros, and Co The total of rate of 14 per cent per annum, equal to LI the guarantee is about L 17,000,000, of which 15s per share, which will absorb L 105.000 the amount guaranteed by this bank is and leave L 16 ,155 6s to be carried forward. LIOO.OOO. The dividend warrants will be The directors h«ve as usual, after careful transmitted by post on the 28th insb., and inveßtig tion, made sufficient reserves for a 1 the dividend will be payable in the colony doubtful dependencies, They havd pleasure on such date as the general manager may fix in stating that last year was very favorable after receipt of telegraphic advice. bal am ob-sheet, august 31, 1890. Liabilities. Capital £4,500,000 Less reserve liability 3,000,000 Paid up ~ r« £1,500,000 0 0 Reserve funds.! 1,000,000 0 0 Of which there is invested in Imperial Guaranteed Four per Cent, debentures £200,000 0 0 I India Government Sterling Stock ... 50,000 0 0 j Colonial Government and Munieipd Debentures ... 250,000 0 0 . Bank premises aud property, as per contra 460,606 6 7 r . olTl .. _ 404,448 10 0 Circulation . .. ... ... •■ ••• ••* ■. . 107 «Q£ n a Depo its (iucluding inscribed stock deposits) ••• i*»«»/,o^o j y Bils payable and other liablities (including reserves held „ against doubtful debts) 'JS'tS « r» Balance of undivided profits 121,155.6 0 £19,393,215 12 10 ASSKTS. Ppecie on hund, and cash balances £2> ooHS !? \ Bullion on hand nd in trawntu - Tfn'nnn J n Money at call and short notice in London 1 9fß !i7fi 1Q V Government and municipa securities ... ... ••• •■• {'™'afS |j „ Bills receivable, loans and othe securities at London omce ... i,tdJ,aoi i» 11 Bills discounted, bills receivable, loaus and other securities at »he branches - 12) 52H I ? Bank premises and property - ' ' t'19,393,215 12 10 Statement of Profits. B lance of undivided profits at 28th February, 1890 £120,378 15 0 Out of which a dividend was declared of 105,000 0 0 Leaving a balance of 15,378 15 0 Profits of the past half-year, after making provision for all bad and doubtful debu « £204,152 13 6 Less : Remuneration to tbe local directors, and salaries apd a lowances to the colonial staff m £62,114 11 10 General expenses in the colonies, including rent, taxes, stationery, &c. 21,569 3 7 Remuneration to the board of directors and auditors, Balaaes of London office staff, rent, taxes, stationery, and general expenses 12,523 13 4 *—"■•« _*i««j 105,776 11 0 Balance of undivided profits at this dare £121,155 6 ___o C. E. Bright, } Arthuk Flower, ! Director . John S. Hill, f » ire< *°»- H. P. Sturois, J W. R. Mewburn, Manager. T. C. C. Saunders, Acting Accountant. We certify that the various securities held in London have been produced to us, and that we have examined the balance books of the several branches in the colonies for the six months ended 31st August, 1890, and. the books and accounts of the London office for the same period, a d, having compared the combined resuits with the above balauce-sheet, h.ve found the same correct. Frkpk Whinney, Chartered ■ AlsCountanfc i\ i j, ll( ]jfc orSi Albeut Deacon, / Londou, Jan. 13, 1891. The Chairman said : Before referring to j years, with credit to himself and advantage the accounts i should like to say a few words |to the bank. He ha bee* nearly forty years resnectine the last clause but one in the re- in the service, and retires with a pension nort which is on the subject of the guaran- which he has well deserved, and he carr.ea tee entered into by this bank with the Bank with him the good wishes o* the directors of England and other large institutions to I am glad to add that we shall not be liquidate the affairs of Messrs Baring entirely deprived of his valuable knowBrothers and Co. This has been so fully ledge and experience, as he will ant for the mentioned at all the bank meetings of late bank at Christchurch as Loal director. Mthat I fear to weary you with the r petition, Tolhurst has been appointed his successor, but as our numerous shareholders in the and is designated resident inspector m New colonies may not be so fully conversant with Zealand, and we hope will prove a valuable what has taken place as yourselves who are addition to our establishment. A pleasan • on the spot, and aa the subject is of great uuty Btillremains to be done, and that is to importance and of exceptional interest, I acknowledge the serv.ces of our excellent may state that our guarantee of LIOO.OOO is staff, both at home and abroad. Harder to remai.i in force foi three years. When it work and greater responsibilities are ever was entered into on the 15th November lasc, on the increase, but our general manager, the guarantors were assured by the Governor Mr Fiolayson, has fully proved himself of the Bank of England that the risk run of equal to cope with these, and has earned the beine called upon to contribute to any loss thanks of the directors To the managers that may arise was a most, nominal, aud this and the numerous ataff under them our statement h a recently bten repeated in a thauks are also due for the able manner in more decided tone, with tbe ddition that which they have assisted him in the conduct the assets of the firm were being realised in pf so large a bus ness. Mr Mewburn who a moat satisfactory manner. It cannot be looks so carefully aud zealously fter the meaid that this bank had any direct intere t terests of the bank on this Bide, assisted by in connexion with Messrs Baring Brothers Mr Carbery and other able officers, all deand Co 's affairs but no one would dare yen- serve our best thanks for their valuable aerture to' nredict what would have been the vices. In concluding I would just add the conseamTnces to the me c ntile world had satisfactory and gratifying intelligence refchis larse and influential firm been allowed ceived from Me bourne on the 22nd mst. to stop payment. Looking, therefore, at this viz. :_«' That splendid rams have made very important m .tter in all its bearings, we squatters safe all over the country.' (Ap. did not hesitate for one moment to become lauw.) These are the few remarks whwh I one of the guarantors for L 17 ,105,000 (which have to put before you, b-'b I shall be is the exact amount), and which we are san- pleased to answer any questwns you may euinevu will fully approve ttud confi-m. desire to ask me. I wil now move that tbe It miv interest some of you to know that directors' report and statement of accounts those who have bo midily and universally now submitted be adopted contributed to this guarantee fund consist of Mr J. feebag Montofiore seconded the tbe Bank of England, London banks, coun- motion, and stated that he had pleasure in try Scotch colonial, and foreign banks, dis- doing so as a shareholder who had a substan. c»ant houses, merchants, and individuals, tial and not a shifting interest in the bank the last named having generously put down He considered that m the shares of that bank their names for the large sum of L 935.000. he possessed a very eafo investment. He I have said nothing in praise of the was quite sure that the shareholders who Governor of the Barns of England for attended the meetings, or those who read bringing about this satisfactory transac the reports of the proceedings, had reason to tion but you are all fully aware how great'y be gratified with the statement that the Mr Lidderdale's services have been appro- chairman was able to make. He did not oiated by his fellow-citizens, and, in fact, by think that upon any previous occasion he a much wider circle which extends nearly all shareholders had had a more s.twfaotory to the balance-sheet, I cannot help noticing statement of accounts presented than they over the world. (Hear, hear.) Turning now had upon the present occasion. With refer?h!f r-nnumred with the accounts in January, ence to the matter of the Baring guarantee X79' STfirlt bad the honor of occupying fund and the contribution made by thta bank thia chair the volume of business was then to the fund, he commended very highly the represented by a sum of £11,278,000, our re- action taken by the directors m this matter, effve f und was only £250,000, and the num.- and thought that it would meet with the her of our branches was fifty-six ; wbi'e now approval of the proprietors. Ho jae also of the business iabilities amount to L 19,393,2 5 opinion that- great thanks were due to the and th?S B JtefundißLl,ooo,ooo,ahd the Governor of the Bank of . ngland for his ana tueieom which all shows a aotnon in the matter. (Applause.) SSSta^KSSaS^KS-V^ Tbe re? olut i onw. S the»T«tt<.th 8 m M t l ng, large luoreuoo »v v nrosner- and carried without di cussion. and proves *• Ttate You wU Mr W. R. Mewbum then read the, adverous an d still PW«»T d property tiwment, stating that the dividend declared m^.^£to!£ZSStlAl 494, which i£ of El ta per share on the capital of the bank to be *™v.^ n u S^ ri tt _i° r Wrr \ h Major-General Trevor then proposed a 'hasTo frita to m JKSiua^AU e iJL vote i thauks to the chairman! directors, cnase 01 »»« '« Rnec 5 a i notice but may and - Btaff « both Kfc homo an(i abroad. {Wm-^.^^g^^V^Cimp^ Mr H ' B - Hyde seconded the motion, be pa wed !« »^ t^ b^ hiVen the which was carried, and the Chairman having | tant change in our lias bee ntn resp onded on behalf oi the board, ans offi eHn New Zealand? which^ !ook place on Mr Urn on behalf of the London and the 31st ult He held that post for twenty colonial staff, the proceedings terminated. LAWSON HEALS, M.D., (> " H' ' PHYSICIAN & SURGEON DENTISTRY. (Formerly House burgeon and House Phy ' sioian to the Westminster Hospital, and */TR. B. 0 WTLSON, BUBffiM» House Surgeon to the Winchester and Leamington Hospitals), TENNYSON STREET, NAPIES, .1 • n ' Rfion to inform his patients that he FTAVING taken up bis residence u iGl . G!flbor P ne on Apri l 12 th, I A borne , ma y be Conned be- and may be conßU lted at usual tween 9 a.m. and 10.30 a m., aud 6.30 pm. FogTRR , 8f Chflmlat , Gladstone Road, md 7.30 p.m., at Mr Babnakd's, Custom Hntil 2p, ra , on the following Friday, April House Street ; and between 2 p.m. and 17th. 3 p.m. at Mr Foster's, Chemist, Gladstone Teeth extracted by Mr W.'a newgproceas, H Q a d , Mf jPAIN&ESSItf.' '