BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1914.

Appendix to the Journals of the House of Representatives, 1914 Session I, B-15

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1914. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1914.

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

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

BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1914.

Liabilities. Assets Capital— £ s . a. ' £ s. d. £ s. d. £ s. d. £ s. d Four-per-cent. guaranteed stock .. .. .. 1,000,000 0 0 Coin and cash balances at banker's .. .. .. .. .. 3,261,510 6 11 " A " preference shares fully paid up, issued to the Crown under the Bank of New Zea- Bullion on hand and in transit .. .. .. .. .. 11-5,674 19 1 land Aot, 1903, sections 9 and 10 .. .. 500,000 0 0 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 .. .. .. .. ..5,076,748 10 5 ■' , Bills receivable in London and in transit .. .. .. 3,164,081 17 5 Paid up to £3 6s. 8d. per share .. .. .. 500,000 0 0 • . 8 240 830 7 10 2,000,000 0 0 Investments in the colonies — New Share Account .. .. .. .. .. .. 269,690 0 0 Colonial Government securities .. .. .. .. 718,681 0 0 Reserve Fund, of which £500,000 is invested in British Govern- Municipal securities .. .. .. .. .. 253,489 18 5 nient securities, the balance being employed in the business . 972 170 18 5 of the bank .. .. .. .. .. .. ., 1,875,000 0 0 Notes in circulation .. .. .. .. .. .. 989,882 0 0 i Bills discounted .. .. .. .. .. . 1 280 027 0 10 Deposits .. .. .. .. .. .. .. I .. 18,070,613 0 0 Other advances and securities, and debts due to the bank .. .. 10,080,458 19 11 Bills payable and other liabilities, including provision for doubtful debts and for depreciation in investment securities *. ., 1,403,456 13 1 : Landed property, premises, &c. .. ... .. .. .. 449,577 8 11 Balance of Profit and Loss .. .. .. .. .. .. 291,608 8 10 £24,400,250 1 11 £24,400,250 1 11

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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 2nd day of June, 1914. W. Gallkndeb, General Manager. A. McLenkan, Accountant.

B.—Profit and Loss, 31st March, 1914.

CERTIFICATES.

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, 1 am satisfied that they have been correctly compiled from the books and accounts of the bank. 2. That 1 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, and have had access to certified returns of so much thereof as were then held at the various branches and agencies of the bank, or were then in transit. Dated this 3rd day of June, 1914. B. M. Litchfield, Chief Auditor.

Approximate Cost 0/ Paper. —Preparation, not given ; printing (650 copies), £2.

By Authority : John Mackat, Government Printer, Wellington.—l9l4.

Price 3d.]

£ s. d. £ s. d. j| £ s. d. Dividend at the rate of 4 per cent, on £500,000 preference shares j Balance, 31st Maroh, 1913 issued to the Crown in terms of the Bank of New Zealand Act, 1903 .. .. .. .. .. .. .. 20,000 0 0 Dividend at the rate of 6 per cent, on £500,000 ordinary share capital .. .. .. .. .. .. .. 30,000 0 0 Bonus at the rate of 3 per cent, on £500,000 ordinary share capital 15,000 0 0 Amount transferred to Eeserve Fund .. .. .. .. 175,000 0 0 Q/1A nrui n n £ s. d. Balance, 31st Maroh, 1913 .. .. .. .. .. 283,117 15 i £ s. I. d. £ s. d. ; 283,117 15 2 £ s. d. 283,117 15 2 240,000 0 0 43,117 15 2 ■ I \r\ r\ n I I 240,000 0 0 )O O 0 ' Balance carried down .. .. .. .. .. .. 43,117 15 2 £283,117 15 2 nj u u i7 it; o £283,117 15 S .7 15 2 Twelve months' interest on guaranteed stock .. .. .. .. 40,000 0 0 Balance brought down Amount written off bank premises and furniture .. .. .. 40,000 0 0 Profits for year ended 31st March, 1914, including Interim dividend paid 19th December, 1913 — recoveries, and after payment of and provision 6 per cent, on preference shares, £500,000 .. .. .. 30,000 0 0 for all interest due and accrued on deposits, pro6 per cent, on ordinary shares, £500,000 .. .. .. 30,000 0 0 vision for bad and doubtful debts, for annual : 60,000 0 0 donation to the Provident Fund, and for bonus Balance, being net profit for year .. .. .. .. 308,490 13 8 I to staff Amount brought forward from last year - .. .. .. 43,117 15 2 Less — £283,117 15 2 40,000 0 0 40,000 0 0 L7 15 2 £283,117 15 ! )0 0 0 Balance brought down .. .. .. .. .. 43,117 15 ! )0 0 0 Profits for year ended 31st March, 1911, including recoveries, and after payment of and provision for all interest due and accrued on deposits, provision for bad and doubtful debts, for annual )0 0 0 donation to the Provident Fund, and for bonus to staff .. .. .. .. .. .. 714,076 3 2 11 U . I ,076 i 3 43,117 15 i 2 60,000 0 0 Salaries and allowances at Head Office and 208 351,608 8 10 branches and agencies .. .. .. 199,755 9 4 Less interim dividend paid, as above .. ..' .. I. 60,000 0 0 Directors'remuneration, including London Board 4,079 10 10 ■/ IJ I r *( l>"< y< 11} I tufi n l'O I Ol v TioTi C OC 1 t\ I* I In (1 1 T\ IT r u ri CTQ.r.1 f\1 1 d I^* 291,608 8 10 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. .. .. .. 58,229 14 5 Audit Expenses Account .. .. .. 2,253 10 0 Rates and taxes .. .. .. .. 61,267 4 11 291,608 8 10 Less — Salaries and allowances at Head Office and 208 branches and agencies .. .. .. 199, 755 9 i Directors'remuneration, including London Board 4,079 10 10 )8 8 10 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. .. .. .. 58,229 14 5 Audit Expenses Account .. .. .. 2,253 10 0 Rates and taxes .. .. .. .. 61,267 4 11 — 325,585 9 6 388,490 13 : 18 8 10 I £431,608 8 II R £431,608 8 10 £431,608 8 10 J I } , ,585 i 9 6 j 388,490 13 I £431,608 8 1C Besekve Fund. 1XBSBKVE DUND. ] £ s. d. ; Balance .. .. .. .. .. .. .. .. .. 1,550,000 0 0 Balance, per last statement .. .. .. .. .. Amount to be added from profits for year ended 31st March, 1914 £ s. d .. 1,375,000 0 ( 175,000 0 ( £1,550,000 0 0 £1,550,000 0 (