Page 1 Advertisements Column 5

Temuka Leader, Issue 1096, 24 April 1883, Page 1

The Bank of New ZaiLAJiD.— The halfyearly meeting of the Bank of New Zealand was held last Friday in Auckland. The Directors’ report showed that the nett profit during the half year ended 31st March, after appropriations for known, bad and doubtful debts and in reduction of Bank premises and furniture accounts, amounts to £89,525 18e Id. The balance from last half year wee £9925 9s lid, making a total sum available for division of £99,451 9s proposed to be appropriated ns follows : —To payment of a dividend at I lie rate of 10 per cent per annum, £50,000 j bonus of 5s per share, equal to 5 per cent per annum, £25,000; balance to profit and loss, new account, £24,451 Bs. In moving the adoption of the report, the Chairman, Mr Williamson, said that deposits had increased. The demand for money had increased so that a 6 per cent rate for twelve .months had become general on deposit, but the Bank did not increase its lending'Vato proportionately, and hence the reason the profit and loss account did not show as favorably as it otherwise would, lie was not apologising for a report that gave them 15 per cent and left £24,451 8s to be carried forward. Ho expected that money would get easier after six months. The report was adopted. The Her Shirley Baker moved a vote of thanks to the Directors and also the officers of the Bank, and suggested that a bonus of 10 per esnt should be given t« the staff. The motion was agreed to, Ur Murdoch said the Board of Directors would no doubt recognise the services of their staff when circumstances required it, but questioned whether the present time wae opportune.