Page 16 Advertisements Column 2

Observer, Volume XVI, Issue 910, 6 June 1896, Page 16

IV I M E T V - F I It 8 T REPORT OF THE DIRECTORS OF THE BANK OF JMEW SOUTH WAXES TO IHE HALF-YEARLY GENERAL MEETING OF THE PROPRIETORS, HELD AT TBE CHIEF BANKING HODSE ON MONDAY, THE 18TH DAY OF MAY, 1896. The Directors have the pleasure to submit to the Proprietors a Statement of the Assets and Liabilities of the Bank on the 31st March last, with the Auditors' Report and Declaration The net profits for the Half-year, after deducting Rebate on Current Bills, Interest on Deposits, paying Note and other Taxes in the Colonies (amounting to £11,108), reducing valuation of Bank Prtmises, providing for Bad and- Doubtful Debts, and including recoveries from Debts previously written off as bad, amount to £86 460 i a To which is to be added-^ Undivided Balance from last Half-year £22,048 18 0 Giving for distribution £108,509 7 8 Which the Directors recommend to be appropriated as follows : — To payment of dividend at the rate ot 9 per cent, per annum £86,318 5 0 „ Interest at 6 per cent, to 31st March on capital paid in advance on other than the fixed dates ... 62 2 0 „ Balance carried to ' Profit and Loss,' New Account . . 22,129 0 8 £108,509 7 8 By the payments made on the Ist November, 1895, and during the half-year; the paid-up Capital has been increased by £34,180, and now amounts to £1,928,380. The Reserve Fund has also daring the Half-year, been increased by £11,279 10s premiums on the New Shares, and now amounts to £1,183,576 12s. During the past half-year a Branch of the Bank has been opened at Kalgoorlie, in Western Australia, and the Branches at Brunswick, in Victoria, and at Kumar a, in New Zealand, have been closed. It will be obseved, as foreshadowed in the President's speech at last half-yearly meeting, that the statement of the Bank's affairs had been made up at all the Branches to the same date, namely, to 31st March last, and not to various dates, for London, New Zealand, Northern Queensland, and Western Australia, ac previously had been the practice. It will be the duty of the meeting to elect an Auditor in the room of James Stabt Habbison, Esq., who was compelled by ill-health to resign. His place has been temporarily filled by the appointment of AiwHtra John Mackenzie, Esq. 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, J. R. HILL, President, AGGREGATE BALANCE-SHEET OF THE BANK OF NEW SOUTH WALES, MARCH 31, 1896. Liabilities. Assets. £ s. d. £ s. d. £ s. d. £ s. d. Notes in Circu- Coin, Bullion, lation .. 813,770 00 and Cash Deposits and Balances . . 7,103,035 16 4 accrued In- Gov emm cn t terest ... 18,534,841 14 1 Securities . . 813,932 11 y 19,348,611 14 1 Municipal and Bills Payable and other Liabili- other Securities (which include Reserves ties .. .. 103,361)7 a held for Doubtful Debts and Queensl'd TreaAmount at Credit of Officers sury Notes . . 173,318 0 0 Fidelity Guarantee and Pro- Notes of other vident Fund) 3,173,172 19 5 Banks . . 12,82:; 0 0 Paid-up Cap'l — Due by other Bearing six Banks includm'nths'div. 1,892,000 0 0 ing Cheques Bearing five and Dratts rem'nths' div. ceived on :51st from Nov. 1 31,420 0 0 March, but Bearing In- not cleared terest at 6% till the followto May 1.. 4,960 0 0 ing day .. 2i>9,575 I 0 1,928380 0 0 Bills Receivable, Bills Dis- ' ' Reserve Fund 1,183,576 12 0 counted, and Remittances in Profit and Loss 115,195 4 3 transit 2,342,792 16 8 3,227,151 16 3- Loans and Advances to Cusr, *°$? ers 14,334,797 7 3 £25,748,936 9 9 Bank Premises 625,000 0 0 Contingent Liabilities — ■ . Outstanding Credits and en- T . . £25,748,936 9 0 dorsements as per Contra 321,757 8 -I Liabilities of Customers and others on Letters of Credit and Drafts, as per Contra ... 321,757 8 3 £26,070,693 18 0 £26,070,693 18 0 PROFIT AND LOSS MARCH 31, 1596. Dr. I " Cb 1896. £ s . d. 1895. ±* s d Mar. 31. To Rebate (at current 4 Sept. 30. By amount from last rates) on Bills Dis- j Account .. .. 22,048 18 0 [ counted not due at 1596. this date 6,685 10 7 Mar. 31. „ Balance of Half- „ Dividend at the ! year's Profits after rate of 9 per cent. | providing for Bud per annum . . 86,318 5 0 ! and Doubtful „ Interest at 6 per Debts, reducing cent.to 31st March, the Valuation of on Capital paid in Bank Premises, advance on other ; and including rethau the fixed I coveries from dates ... ... 62 2 0 Debts previously " ' Profit ! writtenoffasßad 93,146 6^ New Account ... 22,129 0 8 £115.195 43 £115,195 4 j RESERVE FUND, MARCH 31, 1896. Dr. Ch. 1896. £ s. d. ! 1895. £ s d Mar. 31. To Balance 1,183,576 12 0 i Sept. 30. By Balance 1,172,297 2 6 . 1596. ; Mar. 31. „ Premiums on i New Stock paid I "P 11279 10 0 £1 183,576 12 0 j £1,183,576'12~~ j Mar. 31. By Balance £1,183,576 12 0 J. RUSSELL FRENCH, General Manager. ALFRED G. MILSON, ! . „. HENRY T URNER, Branch Accountant-. A. J. MACKENZIE I" Auditors. Audited 16th May, 189(5. ' AUDITORS' REPORT. We have examined the annexed Balance-sheet, made up to the 31st March, 1896 and renort that we nnd the several items therein stated to conform to the Balances in the General Ledser and the Balance-sheets of the respective Branches and Agencies of the Bank collectively * We , c counted the Cash Balance, and examined the Bills and other Securities held by the Bank at the Head Office, in Sydney, on the 31st March last, and hereby certify that we found them correct. J The Cash, Bills, and other Securities held at London and at the Branches and Agencies in the Colonies on the 31st March last have been certified to as being correct by the usual docuALFRED G. MIL6ON, i . „. A. J. MACKENZIE, /Auditors Eank of New South Wales, 16th May. Ifc96. DECLARATION. we, Alfred George Milton and Abthtjr John Mackenzie, of Sydney, in the Colony of New South Wales, Esqrs., beiug duly appointed Auditors of the Accounts of the Corporation of the Bank of New Sonth Wales, do hereby solemnly and sincerely declare that the foregoing Renort and Btaten.ent of Accounts are, to the best of onr several and respective knowledge and belief a 3ust, trne, and faithful Report and Statement of the Accounts and Affairs of the said Cornora^ tion, and that this declaration is made by us after diligent and careful examination into toe state of such Accounts and Affairs, as far as the same have come within our cognizance • and we do severally and respectivelj make this declaration, conscientiously believing the same to S e t fu e Vxr and by virfc 5 e . 01 an Act of the Governor and Legislative Council of the Colony of New South Wales, passed m the fourteenth year of Her present Majesty, Queen Victoria intituled A-n Act to Incorporate the Proprietors oj a certain Bat, kin <, Vn»ip,, n y. called the BanliufNetr South n dies, mid for other purposes therein mentioned.Declared before me, this 16th day of May, 1896, ALFRED G MIL SON" ROB. B. CAMERON. J.P. A. J MACKENZIE: