BANK OF NEW ZEALAND.
ANNUAL REPORT. DIVIDEND OF 7 PER CENT. [PER PHE93 ASSOCIATION.] Auckland, October 24. — The annual meeting of the Bank of New Zealand was held to-day. The report showed a net profit, after appropriation for bad and doubtful debts, with an exception, explained in the President's speech, of £40,961 4s 9d, to which had been added a balance from the halfyear ended 31st March, 1889, of £55,386 12s 7d, making a total available of £96,347 17s 4d, which it is proposed to appropriate as follows : — Dividend, at the rate of 7 per cent, per annum, £39,375 ; balance carried forward, £56,972 17s 4d. The dividend is payable to-morrow. Tho balance-sheet shows a coin and cash balance of £2,056,000, and the advances were increased to £560,000 of a sound liquid character. Auckland, October 24. — The Directors of the Bank recommend the removal of the principal office to London.
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Bibliographic details
Taranaki Herald, Volume XXXVIII, Issue 8611, 24 October 1889, Page 2
Word Count
149BANK OF NEW ZEALAND. Taranaki Herald, Volume XXXVIII, Issue 8611, 24 October 1889, Page 2
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