Page 6 Advertisements Column 3

Southland Times, Issue 22350, 15 June 1934, Page 6

THE BANK OF AUSTRALASIA. (Incorporated by Royal Charter, 1835.) Paid-up Capital --------- £4,500,000 Reserve Fund (used in the business of the Bank) -2,475,00 V Currency Reserve (used in the business of the Bank) 2,000,000 Reserve Liability of Proprietors under the Charter - 4,500,000 £13,475,000 ONE-HUNDREDTH ANNUAL REPORT OF THE DIRECTORS OF THE BANK OF AUSTRALASIA With the Accounts for the Year to October 16, 1933, presented to the Proprietors at the Annual General Meeting held on Thursday, March 22, 1934. REPORT. The Directors submit to the Proprietors the Balance Sheet as at October 16 last with the Profit and Loss Account for the year to that date. After providing’ for rebate on bills current, for British, Australian and New Zealand rates and taxes, and making a transfer to the credit of Contingencies Account, out of which account provision for all bad and doubtful debts has been made, the net profit for the year amounted to £258,507 14/4. To this has to be added £169,783 2/-, brought forward from the previous year’s account, making a total of £428,290 16/4. From this, £118,125 was paid as an interim dividend on October 6 last, and the directors have now appropriated a further sum of £135,000 to pay a final dividend of 4/- per share, less Income Tax at 5/- in the £l, making, in all, £253,125, equal to 7/6 per share less tax, and representing for the year a distribution at the rate of 7j) per cent., less tax. There will remain £175,165 16/4 to be carried forward to the next account. The dividend will be payable in London, Australia and New Zealand on March 23. The directors retiring by rotation are: Rt. Hon. the Earl of Midleton, K.P., Mr T. R. Johnson, and Mr John Sanderson, who, being eligible, offer themselves for re-election. The auditors, Messrs Deloitte, Plender, Griffiths and Co., offer themselves for re-election. . Since the date of the last report, branches at North Sydney, in New South Wales, and Newton (Auckland) and Otaki, in New Zealand, have been closed. WHITWORTH, Chairman. 4 Threadneedle Street, London, March 12, 1934. PROFIT AND LOSS ACCOUNT FROM OCT. 11, 1932, TO OCT. 16, 1933. Balance brought forward from Oct., 1932 £169,783 2 0 Profit for the year to October 16, 1933, after deducting rebate on bills current at balance date (£22,688 4/8), and after making a transfer to the credit of Contingencies Account, out of which account provision for all bad and doubtful debts has been made . £1,069,702 3 2 Less : I. Charges of Management. —Australasia—Salaries and allowances to the staff, including the Superintendent’s Department and 227 branches and agencies £472,604 3 5 General expenses, including rent, repairs, stationery, travelling, etc. 114,800 6 5 London— Salaries 31,244 4 5 General expenses 10,816 10 0 £629,465 4 3 11. Rates and Taxes— Australasia and London 181,729 4 7 £811,194 8 10 £258,507 14 4 £428,290 16 4 From which deduct— Dividend, less Income Tax at 5/- in the £, paid October 6, 1933 £118,125 0 0 Transfer to Dividend Account, payable March 23, 1934 £135,000 0 0 £253,125 0 0 Balance carried forward per Balance Sheet £175,165 16 4

BALANCE SHEET, OCTOBER 16, 1933,

LIABILITIES. £ s. d. Circulation 353,520 0 0 Deposits at interest 26,041,278 14 0 Current accounts 11,792,071 15 4 Bills, payable, drafts in transit, and other liabilities, including provision for contingencies 4,576,978 11 11 Acceptances for customers, as per contra 195,188 11 , 6 • £42,959,037 12 9 Capital—- £ s. d. 900,000 Shares of £5 each, fully paid 4,500,000 0 0 (There is under the Charter a reserve li a bi 1 i t y of the P r oprietors of £5 per share). Reserve Fund (used in 'the business of the Bank) 2,475,000 0 0 Currency Reserve (used in the business of the Bank) 2,000,000 0 0 Dividend payable March 23, 1934 135,000 0 0 Profit and Loss Account Balance 175,165 16 4 9,285,165 16 4 £52,244,203 9 1 A. H. BULLOCK, Accountant.

AUDITORS’ REPORT TO THE PROPRIETORS.

We have examined the above Balance Sheet with the books of the Bank in London, and with the returns received in London from the branches in Australia and New Zealand. We have verified the Cash Balances, Loans at Call and Short Notice, Bills of Exchange, Investments, and Securities held in London. We have obtained all the information and explanations we have required, and in our opinion, the above Balance Sheet is properly drawn up so as to exhibit a true and correct view of the state of the Bank’s affairs, according to the best of our information and the explanations given to us, as shown by the books in London and the returns from the branches. DELOITTE, PLENDER, GRIFFITHS & CO., Auditors. London, March 7, 1934.

For .DEFECTIVE VISION Consult D.8.0.A., F. 1.0. (London). CONSULTING OPTICIAN. DEE STREET. OPP. P.O. INVERCARGILL, piAMOND RINGS. £4, £4 10/-, £5, £6 10/-, £B, £9 5/-, £9 10/-, etc. BUY YOUR ENGAGEMENT RING HERE AND SAVE. C. WARBURTON. Watchmaker and Jeweller. COLONIAL CHAMBERS, DEE ST. There was not a single road death in Hartlepool, England, last year. The credit for this is given to the police constables, who visit the schools and give the children lessons in “safety first.” Burn LINTON COAL. Southland’s best. (Advt.)