BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1912.

Appendix to the Journals of the House of Representatives, 1912 Session II, B-15

8.-15

Session 11. 1912. NEW ZEALAND

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1912.

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.

B;—15

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BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1912. Liabilities. Assets. Capital— & 8. d. £ s, d. i £ s. d. £ s. d. & s. d. Four-per-cent. guaranteed stock .. .. .. 1,000,000 00 l Coin and cash balances at banker's .. .. .. .. j.. 2,900,097 4 0 Preference shares fully paid up, issued to the Grown under the Bank of New Zea- Ij| Bullion on hand and in transit .. .. .. .. .. 204,415 16 0 land Act, 1903, sections 9 and 10 .. .. 500.000 0 0 I Money at call and short notice. Government securities, and other Ordinary shares, 150,000 at £6 13s. 4d. .. 1,000,000 0 0 securities in London .. .. .. .. .. 1a,316, 159 19 2 JI i Bills receivable in London and in transit .. .. .. 2,406,266 0 1 Paid up to £3 6s. Bd. per share .. .. ..' 500,000 00 : 5,722,425 19 3 !■ j 2,000,000 0 0 Investments in the colonies— jBeserve Fund, of which £500,000 is invested in British Govern- Colonial Government securities .. .. .. .. j1,019, 581 0 0 ment securities, the balance being employed in the business Municipal securities .. .. .. .. ..I 245,666 18 0 j of the bank .. .. .. .. .. .. .. 11,000,000 00.L j 1,265,247 18 0 Notes in circulation .. .. .. .. .. .. j 1,030,966 0 0 Assets Realization Board assets— Balances owing by purchasers .. .. .. .. ■. 136,356 610 Deposits .. .. .. .. .. .. . .. I ... 115,833,867 12 9 I Bills discounted .. ".. ■ .. .. .. .. .. 1,221,075 5 0 Bills payable and other liabilities, including provision for doubtful debts and for depreciation in investment securities .. .. I 1,367,483 4 0 Other advances and securities, and debts due to the bank .. .. j 9,667,748 1 0 Balance of Profit and Loss .. .. .. .. .. .. 305,587 13 5 Landed property, premises, &c. .. .. .. .. .. 420,538 0 1 £21,537,904 10 2 £21,537,904 10 2 This is the balance-sheet referred to in certificate on attached Profit and Loss Statement, marked " B."— B. M. LiTCHFißia>, Chief Auditor. ' p„,

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B.—Profit and Loss, 31st March, 1912. . £ a. d. I £ s. a. £ s. d. j & s. d. j £ s. d. Dividend at the rate of 4 per cent, (making 10 per cent, for the year J I Balance, 31et March, 1911 -. .. .. •■ .■ i 299,405 7 6 ended 31st March, 1911) on £500,000 preference shares issued ! to the Crown in terms of the Bank of New Zealand Aot, 1903 .. I 20,000 0 0 Dividend at the rate of 6 per cent, on £500,000 ordinary share j || capital .. .. .. .. :.. .. i 30,000 00 j Bonus at the rate of 3 per cent, on £500,000 ordinary share capital | (making 15 percent, for the year ended 31st March, 1911) .. I 15,000 0 0 j ;; Amount transferred to Reserve Fund .. .. .. .. i 200,000 0 0 ' I J 265,000 0 0 i| Balance carried down .. .. .. .. .. j.. 34,405 76 I! I £299,405 7 6 f £299,405 1 6 Twelve months' interest on. guaranteed stock .. .. .. .. 40,000 00 j ! Balance brought dowu .. .. .. .. .. 34.405 7 6 Amount written off bank premises and furniture .. .. .. 25,000 00 i| Profits for year ended 31st March, 1912, including Interim dividend paid 4th December, 1911— j recoveries, and after payment of and provision 6 per cent, on preference shares, £500,000 .. .. .. 30,000 00: for all interest due and accrued on deposits, pro--6 per cent, on ordinary shares, £500,000 .. .. .. 30,000 00 : vision for bad and doubtful debts, for donation : 60,000 oOj to the Provident Fund, and for bonus to staff .. .. (681,034 14 8 Balance, being net profit for year .. .. .. .. 331,182 511 j I Less— Amount brought forward from last year .. .. ..[ 34,405 76 I ! Salaries and allowances at Head Office and 179 i 1 J branches and agencies .. .. .. ! 171,317 17 9 ! I 365,587 13 5 i . < Directors'remuneration, including Loudon Board; 3,250 0 0 Less interim dividend paid, as above .. .. ..: 60,000 0 0| ! General expenses, including rent, stationery, I 1 305,587 13 5 I telegrams, postages, travelling, repairs Co I premises, &c. .. .. .. .. | 52,544 9 2 ] i Audit Expenses Account .. .. .. 1,968 15 2] : ; Rates and taxes .. .. .. .. | 55,771 68 j ! i i 284,85-2 8 9 ! J 1 396,182 5 ii j £430,587 13 5; ! £430,587 13 5 Eesbbvb Fund. £ s. d. J £ s. d. Balance .. .. .. .. .. .. .. .. .. 1,200,000 00 | Balance, per last statement .. .. .. .. .. .. .. 1,000,000 0 0 '• Amount to be added from profits for year ended 31st March, 1912 .. .. 200,000 0 0 £1,200,000 0 0 £1,200,000 0 0

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CERTIFICATES. I, Burnet Murray Litchfield, the Chief Auditor of 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 jj 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, j thereof. 3. That I have verified so much of the cash, investments, securities, and assets of the bank j Dated this Ist day of June, 1912. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had T. Callbndeb, General Manager, access to certified returns of so much thereof as were then held at the various branches and agencies A. P. W. F. A. Macbban, Accountant. of the bank, or were then in transit. |- Dated this 4th day of June, 1912. B. M. Litcotield, Chief Auditor.