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Taranaki Herald, Volume XXXIX, Issue 8934, 17 November 1890, Page 2

COMMERCIAL.

♦ — . BANK OP NEW SOUTH WALES.

Eightieth Report of the Bank of New South Wales to the half-yearly general meeting of the Proprietors, held at the Chief Bankhouse, on Friday, the 31st day of October, 1890. The Directors have the pleasure to submit to the proprietors a statement of the assets and liabilities of the Bank on the 30th September last, with the auditors' report and declaration. The net profits for the half-year, after deducting rebate on current bills,interest on de posits, paying note tax in the colonies, reducing valuation of Bank promises, providing for bad and doubtful debts, and including recoveries from debts previously written oIE as bad, amount to ... £118,522 15 7 To which is to be added — Undivided balance from last half-year ... 9,256 811 Giving for distribution £127,779 4 6 Which the Directors recommend to be appropriated as follows :—: — To payment of dividend at the rate of 15 per cent, per I annum, £93,750 ; to bonus at the rate of 2\ per cent per annum, £15,625; to to augmentation of the reserve fund, £10,000; to balance carried to " Profit and Loss," new account, £8,404 4s 6d £127,779 4 6 With the above appropriation the Reserve Fund will amount to £960,000. During the past Half-year the Branch at Charlton, in the Colony of Victoria, has been closed ; and during the same period Branches have been opened at Bingara, Thornleight, and Warren, in this Colony ; at Tallangatta, in Victoria ; and at Amberley, in New Zealand. It will be the duty of this Meeting to elect a Director in the room of Thomas Buckland, Esq., who retires by rotation, but is eligible for re-election, and has given the requisite notice that he is a candidate A Director will also have to be elected in the room of the Hon. William Laidley, Esq., M.M.C., who resigned in consequence of his departure from the Colony. The vacancy at the Board thus created was filled by the appointment, in terms of the Deed of Settlement, of Thomas Cadell, Esq., a duly qualified Shareholder, who now offers himself as a candidate for election, and has given the requisite notice. The Meeting will further have to elect Auditors in the room of A. G. Milson and J. S. Harrison, Esqs., who now retire, the latter being eligible for re-election. The Dividend will be payable at the Head Office to-morrow, and at the Branches on receipt of advice. For and on behalf of the Board of Directors, THOMAS BUCKLAND, President. Aggregate Balance-sheet of the Bank of New South Wales, September 30, 1500 {including London Branch to 30th June, 1890, and New Zealand Branches to Ist September, 1890. Dr. £ s. d. To Proprietors' Capital —62,500 shares, £20 each, fully paid up... 1,250,000 0 0 Reserve Fund '„50,000 0 0 Notes in circulation ... 640,927 0 0 Bills Payable 1,513,544 1 6 Deposits and other liabilities 18,440,004 14 10 Profit and Loss ... 147,752 4 3 r £22,942,228 0 7 Cu. £ s. d. By Coin and Cash Balances 3,244,440 14 2 Bullion 64,521 14 5 Government Securities 519,369 19 0 Notes of other Banks... 8,793 0 0 Bank Premises 543,127 15 3 Bills Receivable, Bills Discounted, and other Debts due to the Bank 18,560,735 3 1 Insurance Account ... 1,239 14 8 £22,942,228 0 7 PROFIT AND LOSS, SEPTEJIBER, 1890. Dr. Sept. 30, 1890.— T0 re-" £ s. d. bate i at current rates) on bills discounted not due at this date ... 19,972 19 9 To dividend attherate of 15 per cent, per annum 93,750 0 0 To bonus at the rate of 2A per cent, per annum 15,625 0 0 To augmentation of the reserve fund ... 10,000 0 0 To balance carried to " Profit and Loss,,' new account ' 8,404 0 0 £147,752 4 3 Cr. March 31 to Sept. 30, £. s. d. 1890. — By amount from last account ... 9,256 8 11 By balance of halfyear's profits after providing for bad and doubtful debts, and including recoveries from debts previously written off as bad ... 138,495 15 4 £149,752 4 3 RESERVE FUND, SEPTEMBER 30, 1890. Dr. £ s. d. Sept. 30, 1890. —To balance 960,000 0 0 £960000 0 0 Cr. Mar. 31 to Sep. 30, 1890. £ s. d. —By balance ... 950,000 0 0 By amount from profit and loas 10,000 0 0 £960,000 0 0 Audited, 30th October, 1890. Alfred G. Milson, ) A „, J. S. Harrison, 'jA"^ 0 ™-