BANK OF NEW ZEALAND

Wellington Independent, Volume XVIII, Issue 1983, 14 November 1863, Page 3

BANK OF NEW ZEALAND

[From the " New Zealandar,'' October.]

The half-year general meetiug ofthe proprietors of tbis Bank was held in the Banking House in Auckland yesterday afternoon. The following report of the Directors and balance sheet was laid before the meeting.

Fourth Half- Yearly Report of the Directors ofthe Bank of New Zealand, presented at the General Meeting of the proprietors, held at Aucklaud, on the 30th October, 1863.

The directors bave the pleasure of submit

ting to the shareholders the annexed statement of accounts, which shows, alter defraying the

wbole expenses of the establishment, and providing for all bad and doubtful debts, that the >.ett profit realised for the half-year ending 30th September last, amounted to £39,523 Hs. 5d., to which is to be added the sura of £1,668 19s. ' Id., being the undivided balance of piofits for the previous half-year, making a total of £41,192 13s. 6d. available for division. The directors reccommend that the sum ol £27,000 be added to the reserve fund, by which tbat fund will be increased to £60,000 — that the turn of £12,468 13s. Od., be set apart for a dividend at the rate of£ten per cent, per annum on the paid-up capital of the bank, leaving an unappropriated balance of £1,724 Os. 6d„ to be carried forward to the credit of profit and loss account for the cuttent half-year. The dividend will be payable at Auckland on the 3rd November next, and at the branches on receipt of advice. In accordance with the provisions ofthe deed

of settlement, one of the directors retires from

the board of management by lot, and a vacancy having beeu caused by the resignation of Mr David Graham, two qualified proprietors have

to be elected at tbis meeting to serve as directors, of which due notice has been given. In

compliance with clause 94 of the deed of settle ment, the two auditors also retire, and two proprietors have now to be elected to serve as auditors during the year next ensuing. For the Dirsctors, (Signed.) James Williamson, President. Balance Sheet of the Bank of New Zealand, for the halfyear ending 30th September, 1863, (including the London Office Balances, at 30th June, 1863.) Dr. £ s." d. To Paid-up Capital 249,373 0 0 „ Notes in Circulation 303.2GG 0 0 „ Bills in Circulation 213,454 0 4 „ Deposits 1,035,900 4 1 „ Balances due to other Banks 78,152 12 8 „ Eeserve Fund 33,000 0 0 .. Balance of Profit and Loss Account @ lst March 1,668 1!) 1 „ Net Profit for half-year 39,523 14 5 £1,954,344 10 7 Cr. £ , s - d By Coin and Bullion 308,551 19 5 „ BillslteceivableandallotherAdvances... l,l4s,239 6 2 „ Balances due by Colonial Governments 148,311 0 7 [ „ Balances due by other Banks &Branches 203,952 7 5 „ Notes of other Banks 5,479 0 0 „ Government Securities 100.000 0 0 „ Landed Property 16,943 2 0 „ BankPremises.Furnlture&Stationery... 25,867 15 0 £1,954,344 10 7 Profit and Loss Acoount. Dr. £ s- d To Increase of Beserve Fund 27,000 0 0 „ Dividend at the rate of 10 _\ cent %) an. 12,468 13 0 „ Amount carried to Profit & Loss new acct. 1,724 0 C £41,192 13 G Cr. £ B - d - By Balance of Profit @31at March 1,668 13 1 „ Net Profit for half-year 39,523 14 5 £41,192 13 6 ' Reserve Fond. Dr. £ a d To Balance 60,000 0 0| £600,000 0 oi Cr. £ b. d. By Balance from last statement 33,000 0 0 „ Amount transferred from Profits of past half-year 27,000 0 0 £60,000 0 0 Ye hereby certify that we bave examined the accounts of the Bank of New Zealand for the half-year ending 30th September, 1863, and that we have counted the Cash Balance, and examined the Bills and other Securities held at the Head Office, and compared the Beturns of the Branches with the above Balance Sheet and found the same to be correct Chablbs J. Tatwb, J, *