BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1910.

Appendix to the Journals of the House of Representatives, 1910 Session I, B-15

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1910. NEW /EAT. AND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1910.

Laid before both Houses of the General Assembly in pursuance of Section 24 of the Bank of New Zealand and Banking Act Amendment Act, 1898.

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F. M. This is the balance-sheet referred to in certificate on attached Profit and Loss Statement, marked " B."— B. M. Litchfield, Chief Auditor. A ' .J?" "■ A. P. W. B. M. L.

BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1910.

Liabilities. Assets. Capital— £ s. d. £ s. d. £ s. d. £ 8 . d. £ a. d. Four-per-cent. guaranteed stock .. '.. .. 1,000,000 0 0 Coin and cash balances at banker's .. .. .. .. .. 3,143,775 3 4 Preference shares fully paid up, issued to the Crown under the Bank of New Zea- Bullion on hand and in transit .. .. .. .. 114,298 7 6 land Act, 1903, sections 9 and 10 .. .. 500,000 0 0 . Money at call and short notice, Government securities, and Ordinary shares, 150,000 at £6 13s. 4d. .. 1,000,000 0 0 other securities in London .. .. 3,891,644 3 7 — — Bills receivable in London and iu transit .. .. . 2,626,561 4 2 Paid up to £3 6s. 8d. per share .. .. .. 500,000 0 0 6,518,205 7 9 2,000,000 0 0 Investments in the coloniesReserve Fund .. .. .. .. •• 650,000 0 0 Colonial Government securities .. .. .. 1,082,121 0 0 Municipal securities .. .. .. 62,624 1 6 Notes in circulation .. .. .. .. •• 919,329 0 0 _, 1,144.745 1 6 Assets Realisation Board assets — Deposits .. .. .. .. .. .. .. .. 14,687,679 17 1 Balances owing by purchasers .. 286,899 9 3 Sundry assets unrealized .. .. .. .. 46,391 11 4 Bills payable and other liabilities, including provision for doubt- 333,291 0 9 ful debts and for depreciation in investment securities .. .. 1,146,917 10 4 Bills discounted .. .. .. .. .. .. .. 1,034,458 6 8 Balance of Profit and Loss .. .. .. .. .. 270,384 8 6 Other advances and securities, and debts due to the bank .. .. 7,025,747 14 4 Landed property, premises, &c. .. .. .. .. 359 799 14 j £19,674,310 15 11 £19,674,310 15 11 I

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B.—Profit and Loss, 31st March, 1910.

/'}{"<■ 3d.

CERTIFICATES.

We hereby certify that, having carefully examined the foregoing balance-sheet (marked " A ") and statements, we are satisfied that they have been correctly compiled from the books and accounts of the bank, and that the balance-sheet is a full and fair balance-sheet, properly drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. Dated this Ist day of June, 1910. A. E. Mills, pro General Manager. , A - P- W. p. A. Macbean, Accountant. B. M. L.

I, Burnet Murray Litchfield, the Chief Auditor of the Bank of New Zealand, do hereby certify,— 1. That, having carefully examined the foregoing balance-sheet (marked " A ") and statements, I am satisfied that they have been correctly compiled from the books and accounts of the bank. 2. That I am also satisfied that the said balance-sheet is a full and fair balance-sheet, properly drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as at the date of the said balance-sheet were held at the Head Office in Wellington, aud have had access to certified returns of so much thereof as were then held at the various branohes and agencies of the bank, or were then in transit. Dated this Bth day of June, 1910. B. M. Litchfield, Chief Auditor.

Approximate Go.it of Paper.—Preparation, not given ; printing (1,500 copies), £3 2e.

By Authority : John Mackay, Government Printer, Wellington.—l9lo.

£ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Dividend at the rate of 3J per cent, (making 8j per cent, for the year Balance, 31st March, 1909 .. .. .. .. .. 317 248 13 6 ended 31st March, 1909), on £500,000 preference shares issued to the Crown in terms of the Bank of New Zealand Act, 1903 .. 18,750 0 0 Dividend at the rate of 5 per cent, on £500,000 ordinary share capital .. .. : .. .. 25,000 0 0 Bonus at the rate of 2J per cent, on £500,000 ordinary 3hare capital (making 12$ percent, for the year ended 31st March, 1909) .. 12.500 0 0 Amount transferred to Reserve Fund .. .. .. .. 200,000 0 0 256,250 0 0 Balance carried down .. .. .. .. .. .. 60,998 13 6 -317,248 13 6 317,248 13 6 Twelve months' interest on guaranteed stock .. .. 40,000 0 0 Balance brought down .. .. .. .. .. 60 998 13 6 Amount written off bank premises and furniture .. .. 15,000 0 0 Profits for year ended 31st March, 1910, including Interim dividend paid 6th December, 1909 — recoveries, and after payment of and provision 5 p<.r cent, on preference shares, £500,000 .. .. 25,000 0 0 for all interest due and accrued on deposits, pro5 per cent, on ordinary shares, £500,000 .. .. 25,000 0 0 vision for bad and doubtful debts, for donation — 50,000 0 0 to the Provident Fund, and for bonus to staff .. .. 560,617 7 4 Balance, being net profit for year .. .. .. 259,385 15 0 Less — Amount brought forward from last year .. .. 60,998 13 6 Salaries and allowances at Head Office and 153 branches and agencies .. .. .. 152,734 6 9 320,384 8 6 Directors'remuneration, including London Board 3,250 0 0 Less interim dividend paid, as above .. .. 50,000 0 0 General expenses, including rent, stationery, 270,384 8 6 travelling, repairs to premises, &c. .. .. 38,640 12 10 Audit Expenses Account .. .. .. 1,919 6 3 Rates, taxes, telegrams, and postages .. 49,687 6 6 246,231 12 4 314,385 15 0 £375,384 8 6 £375,384 8 6 £375,384 8 Resekve Fund. £ s. d. £ 8. d. Balance .. .. .. .. .. .. .. .. .. 800,000 0 0 Balance, per last statement .. .. .. .. .. ., ,, 650 000 0 0 Amount to be added from profits for year ended 3lBt March, 1910 .. .. 150,000 0 0 £800,000 0 J) £800,000 0 0