BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1917.

Appendix to the Journals of the House of Representatives, 1917 Session I, B-15

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1917. NEW ZEALAND

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1917.

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

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BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1917.

I I ii ■ 1 ! I Liabilities. Assets. Assets. Capital — £ a. A. £ s. d. £ s. d. j Four-per-cent. guaranteed stock .. .. ... 529,988 10 6 ! Coin and cash balances at banker's .. "A" preference shares fully paid, issued to Government notes —Commonwealth, Fijian, and the New Zealand Government ... .. 500,000 0 0 ministration "B" preference shares fully paid, issued to Notes of other banks (legal tender) .. the New Zealand Government ., .. .. 250,000 0 0 Bullion on hand and in transit Ordinary shares, 150,000 at £6 13s. 4d. .. 1,000,000 0 0 Money at call and short notice, Government securi Paid up to £3 6s. 8d. per share .. .. .. 500,000 0 0 securities in London New ordinary shares, 75,000 at £6 13s. 4d., fully paid .. 500,000 0 0 Bills receivable in London and in transit O Q<7Q QQQ 1A fi £ s. d. 529,988 10 6 £ s. d. £ a. d. £ s. d. Coin and cash balances at banker's .. .. .. .. .. 5,914,979 3 4 Government notes —Commonwealth, Fijian, and Samoan Administration .. .. .. .. .. .. .. 159,331 0 C Notes of other banks (legal tender) .. .. .. .. .. 451,735 0 C Bullion on hand and in transit .. .. .. .. .. 119,562 19 IC Money at call and short notice, Government securities, and other securities in London .. .. .. .. .. jll,476,002 15 1 Bills receivable in London and in transit .. .. .. 672,147 3 7 12,148,149 18 8 Investments in the Dominion — New Zealand Government securities .. .. .. 2,905,413 10 0 Municipal securities .. .. .. .. .. 383,698 6 5 3,289,111 16 6 - 500,000 0 0 250,000 0 0 500,000 0 0 500,000 0 0 ; j 2,279,988 10 6 Reserve Fund .. .. .. .. .. .. .. 2,062,141 7 3 Investments in the Dominion — Notes in circulation .. .. .. .'. .. .. 2,560,325 0 0 New Zealand Government securities 2,279,988 10 6 2,062,141 7 3 2,560,325 0 0 Municipal securities Deposits .. .. .. .. .. .. .. 29,052,790 1111 29,052,790 11 11 Bills payable and other liabilities, including provision for doubt- Bills discounted ful debts and for depreciation in investment securities .. 2,007,968 2 7 Other fl,dva.nppc: fl.nri securities a.rid dents due tn t-.l 2,007,968 2 7 Bills discounted .. .. .. .. .. .. .. j 1,256,721 7 S Other advances and securities, and debts due to the bank .. .. 14,489,763 19 4 cjtner advances ana securities, ana aeDts aue to ti Balance of Profit and Loss .. .. .. .. .. .. 316,954 6 1 Landed property, premises, &c. 316,954 6 1 Landed property, premises, &c. .. .. .. .. .. 450,812 13 C £138,280. 167 18 4 £3 138,280,167 18 4 i 38,280,167 18 4 £i38,280,167 18 i This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement, marked " B." — B. M. Litchfield, Chief Auditor.

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B.—Profit and Loss, 31st March, 1917.

Price 3d.]

AvjiroTimate Cost of Paper. —Preparation, not given ; printing (650 conic-), £3

By Authority : Marcus F. Marks, Government Printer, Wellington.—l.9l7.

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 : 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 2nd day of June, 1917. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had W. Callendeb, General Manager, access to certified returns of so much thereof as were then held at the various branches and agencies A. MoLennan, Accountant. of the bank or were then in transit. Dated this sth day of June, 1917. B. M. Litchfield. Chief Auditor.

£ s. d. j £ s. d. £ s. d. Dividend at the rate of 4 per cent, on £500,000 " A " preference Balance, 31st March, 1916 shares issued to the New Zealand Government in terms of the Bank of New Zealand Act, 1903 .. .. .. .. 20,000 0 0 Dividend at the rate of 6 per cent, on £250,000 " B " preference shares issued to the New Zealand Government in terms of tVie Bank of New Zealand Act, 1913 .. .. .. .. 15,000 0 0 Bonus at the rate of 3 per cent, on " B " preference shares .. 7,500 0 0 Dividend at the rate of 6 per cent, on ordinary share capital .. 59,908 9 6 Bonus at the rate of 3 per cent, on ordinary share capital .. 29,801 10 0 Amount transferred to Reserve Fund .. .. .. .. 50,000 0 0 182,209 19 6 Balance carried down .. .. .. .. .. .. 56,464 6 11 £ s. d. £ a. d. 238,674 6 5 £238,674 6 5 Twelve months' interest on guaranteed stock .. .. .. .. 21,141 9 6 Balance brought down Amount written off bank premises and furniture .. .. .. 50,000 0 0 Profits for year ended 31st March, 1917, including Interim dividend paid 9th December, 1916 — recoveries, and after payment of and provision 6 per cent, on " A" preference shares, £500,000 .. .. 30,000 0 0 for all interest due and accrued on deposits, pro6 per cent, on " B" preference shares, £250,000 .. .. 15,000 0 0 vision for had and doubtful debts, for annual 6 per cent, on ordinary shares, £1,000,000 .. .. .. 60,000 0 0 donation to Provident Fund and for a special 105,000 0 0 grant thereto, and for bonus to staff .. Balance, being net profit for year .. .. .. .. 365,489 19 2 Less — Amount brought forward from last year .. .. .. 56,464 6 11 Salaries and allowances at Head Office and 205 branches and agencies .. .. .. -248,515 7 2 421,954 6 1 Directors'remuneration, including London Board 4,250 0 0 Less interim dividend paid, as above .. .. .. 105,000 0 0 General expenses, including rent, stationery, 316,954 6 1 telegrams, postages, travelling, repairs to premises, etc. .. .. .. .. 74,735 1 5 Audit Expenses Account .. .. .. 2,727 7 0 Rates and tuxes .. .. .. .. 198,05119 4 ! £238,674 ' 6 5 56,464 6 11 964,911 3 7 528,279 14 11 436,631 8 8 ■248,515 7 2 4,250 0 0 74,735 1 5 2,727 7 0 198,051 19 i 528,279 14 11 436,631 8 8 £493,095 15 7 £493,095 15 7 £493,095 15 7 Resekve Fund. £ s. d. Balance .. .. .. .. .. .. .. .. .. 2,135,000 0 0 Balance, per last statement .. Amount to be added from profits for year ended 31st March, 1917 £-2,135,000 0 0 £ s. d. .. 2,062,141 7 3 72,858 12 9 £2,135,000 0 0