BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1911.

Appendix to the Journals of the House of Representatives, 1911 Session I, B-15

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1911. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1911.

Laid before both Houses of the General Assembly in pursuance of Section 24 of the Bank of New Zealand and Banking Act Amendment Act, 1808.

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This is the balance-sheet referred to in certificate on attached Profit and Loss Statement, marked " B."— B. 11. Litchfield, Chief Auditor. A ' p -^

BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1911.

Assets. . i Liabilities. Capital— £ s. d. Four-per-cent. guaranteed stock Preference shares fully paid up, issued to the Crown under the Bank of New Zealand Aot, 1903, sections 9 and 10 Ordinary shares, 150,000 at £6 13s. id. .. 1,000,000 0 0 £ s. d. £ s. d. 1,000,000 0 0 Coin and cash balances at banker's .. £ s. d. £ s. d. 3,248,289 19 5 Bullion on hand and in transit 500,000 0 0 Money at call and short notice, Government securities, and other securities in London Bills receivable in London and in transit 121,812 2 6 6,710,239 8 5 2,294,621 17 3 Paid up to £3 6s. 8d. per share 500,000 0 0 ; 2,000,000 0 0 Investments in the coloniesColonial Government securities Municipal securities 800,000 0 0 977,246 0 0 Assets Realization Board assetsBalances owing by purchasers 17,886,745 13 10 Sundry assets unrealized .. : 9,004,861 5 8 I. Reserve Fund, of which £500,000 is invested in British Government securities, the balance being employed in the business of che bank Notes in circulation 1,077,921 0 0 260,089 2 11 1,338,010 2 11 Deposits 178,540 16 5 37,813 3 10 Bills payable and other liabilities, including provision for doubtful debts and for depreciation in investment securities 216,354 0 3 1,439,420 17 0 Bills discounted .. 1,111,635 18 9 Balance of Profit and Loss .. 299,405 7 6 Other advances and securities, and debts due to the bank Landed property, premises, &c. £23,402,817 18 4 7,938,115 1 7 423,739 7 3 ; £23,402,817 18 4

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CERTIFICATES. I, Burnet Murray Litchfield, the Chief Auditor o{ the Bank of New Zealand, do hereby certify,— We hereby certify that, having carefully examined the foregoing balance-sheet (marked " A") 1. That, having carefully examined the foregoing balance-sheet (marked " A") and statements, and statements, we are satisfied that they have been correctly compiled from the books and I am satisfied that they have been correctly, compiled from the books and accounts of the bank. accounts of the bank, and that the balance-sheet is a full and fair balance-sheet, properly 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 drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. thereof. 3. That I have verified so much of the cash, investments, securities, and assets of the bank Dated this 31st day of May, 1911. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had • I. Callendek, General Manager, accese to certified returns of so much thereof as were then held at the various branches and agencies A. P. W. F. A. Macbean, Aocountant. f the bank, or were then in transit. Dated this Ist day of June, 1911. B. M. Litchfikl,d, Chief Auditor.

B.—Profit and Loss, 31st March, 1911.

Approximate Cost of Paper.— Preparation, not given; printing (1,400 copies), £2 15s.

By Authority : John Mackay, Government Printer, Wellington.—l9ll.

Price 3d. |

Dividend at the rate of 3} per cent, (making 8j per cent, for the year ended 31st March. 1910), on £500,000 preference shares issued to the Crown in terms of the Bank of New Zealand Act, 1903 .. Dividend at the rate of 5 per cent, on £500,000 ordinary share capital .. .. .. .. ; Bonus at the rate of i\ per cent, on £500,000 ordinary 3hare capital (making 12J per cent, for the year ended 31st Maroh, 1910) Amount transferred to Reserve Fund I I £ s. d. £ s. d. £ a. d. Balanee, 31st Maroh, 1910 £ g. d. £ s. d. 270,384 8 e 18,750 0 0 25,000 0 0 12,500 0 0 150,000 0 0 206,250 0 0 64,134 8 6 Balance carried down Twelve months' interest on guaranteed stock Amount written off bank premises and furniture Interim dividend paid 12th December, 1910 — 6 per cent, on preference shares, £500,000 6 per cent, on ordinary shares, £500,000 270,384 8 6 270,384 8 Balance, being net profit for year Amount brought forward from last year 30,000 0 0 30,000 0 0 295,270 19 0 64,134 8 6 40,000 0 0 Balanee brought down 20,000 0 0 Profits for year ended 31st Maroh, 1911, including recoveries, and after payment of and provision for all interest due and accrued on deposits, provision for bad and doubtful debts, for donation 60,000 0 0 to the Provident Fund, and for bonus to staff .. Less — Salaries and allowances at Head Offioe and 167 branches and agencies .. .. .. ! 160,678 1 4 Directors'remuneration, inoluding London Board 3,250 0 0 General expenses, including rent, stationery, 299,405 7 6 telegrams, postages, travelling, repairs to premises, &c. .. .. .. ..I 48,142 19 2 Audit Expenses Account .. .. .. 1,918 9 6 Rates and taxes .. .. .. .. 53,131 0 9 622,391 9 9 64,134 8 Less interim dividend paid, as above 359,405 7 6 60,000 0 0 267,120 10 9 355,270 19 ' £419,405 7 6 £419,405 7 T> T! Reserve Fund. Reserve Fund. Balance £ s. d. 1,000,000 0 0 Balance, per last statement .. Amount to b"e added from profits for year ended 31st March, 1911 £ s. d. 800,000 0 0 200,000 0 0 £1,000,000 0 0 £1,000,000 0 0