The Bank of New Zealand.

Colonist, Volume XLVI, Issue 10143, 10 July 1901, Page 4

The Bank of New Zealand.

Wellington, July 9,

The balance sheet of the Bank of New Zealand was laid on the table of the House this afternoon. The profit and loss aeoount showa groiS profits of £469,291. The expenses of management, including rates and taxes, totalled £169.049, leaving a net profit of £300,242. This is further reduced by the payment of £80,000 interest on the guaranteed stock, and £9,577 interest on preferred shares up to the date of repurchase, leaving available £210,665, which has been disposed of as follows :- To extinguish the debenture conversion account, £35,360 ; to extinguish the Colonial Bank goodwill account, £60,000 ; writt* n off the Estates Company assets, in liquidation, £17,000; written off the Colonial Bank property and premises, £10,000; wri ,ten off the Bank property premises and furniture, £38,305; to be paid to the Assets Eealisation Board, £50,000. Total, £210,665. The liabilities show ordinary capital paid up by the shareholders, £421,860 ; Reserve Fund (invested in New Zealand consols), £23,474. The note circulation is £770,729; bills payable amount to £1,170,030; deposits to £8,682,504; and other liabilities, £115,910; bills rediscounted in London, £274,958. The total liabilities, including the two million guarantee, and the fifty thousand balance of profit to be paid to the Assst3 Board is £13,509,564. The assets show coin and sash, £1,456,119; bullion, £98,010 ; money at call at short notice, bills receivable, Government and other securities in London, £2.523.089 ; investments iD the Colony, £2,607,584 (of which £1 .625,000 is in the Assets Board debentures) ; bills discounted, £2,080,832; other advances, £4,111,188; landed property, premises, etc., £388,762 ; Estates Company Assets, in liquidation (book value), £298,479; Colonial Bank property and premises, £45,398. In the above figures shillings and pence are omitted. ,