BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1919.

Appendix to the Journals of the House of Representatives, 1919 Session I, B-15

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1919. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1919.

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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BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1919.

• r" ii ~ i i 1 I Liabilities. Assets. Capital— £ s. a. £ s. d. £ s. d. £ s. d. Four-per-cent. guaranteed stock .. .. .. 529,988 10 0 Coin and cash balances at banker's .. .. .. .. .. 5,918,455 17 4 "A" preference shares fully paid, issued to the New Zealand Government notes —Commonwealth, Fijian, and Samoan AdGovernment .. .. .. .. .. .. 500,000 0 0 ministration .. .. .. .. .. .. .. 269,754 10 0 " B" preference shares fully paid, issued to the New Zealand Note3 of other banks (legal tender) .. .. .. .. .. 440,960 0 0 Government ., .. .. : .. .. .. -250,000 0 0 Bullion on hand and in transit .. .. .. ..I .. 90,595 4 7 Ordinary shares (150,000 at £6 13s. 4d., £1,000.000), paid up Money at call and short notice, Government securities, and other to £3 6s. 8d. per share .. .. .. .. .. 500,000 0 0 securities in London .. .. .. ..' .. 13,179,285 15 1 New ordinary shares (75,000 at £6 13s. 4d.), fully paid .. 500,000 0 0 Bills receivable in London and in transit .. .. .. 638,770 8 1 2,279,988 10 6 - : 13,818,056 3 2 Investments in the Dominion — Reserve Fund .. .. .. .. .. .. .. - 2,200,000 0 0 New Zealand Government securities .. .. .. 2,945,603 10 0 Municipal securities .. .. .. .. .. 330,499 1 5 Notes in circulation ... .. : .. .. .. .. 13,728,249 0 0 8,276,162 11 5 Deposits .. .. .. .. .. .. .. .. 31,716,353 0 8 Commonwealth and Fijian Government securities .. .. .. 13*, 316 13 4 Bills payable and other liabilities, including provision for doubt- Bills discounted .. .. .. .. .. .. .. 1,475,750 13 7 ful debts and for depreciation in investment securities .. .. 2,800,3!U 9 1 Other advances and securities, and debts due to the bank .. .. 17,389,787 5 7 Balance of Profit and Loss .. .'. , .. .. .. .. 428,724 0 9 Landed property, premises, &c. .. .. .. .. .. 399,807 7 0 £13,213,706 6 0 £43,213,700 6 0 43,213,700 6 0 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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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 sth day of June, 1919. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had w - Callender, General Manager, access to certified returns of so much thereof as were then held at the various branches and agencies A. McLennan, Accountant, of the bank or were then in transit. Dated this 6th day. of June, 1919. B. M. Litchfiejcd, Chief Auditor.

B.—Profit and Loss, 31st March, 1919.

Approximate Cost of Paper. —Preparation, not given ; printing (750 copies), £5.

By Authority : Marcus P. Marks, Government Printer, Wellington.—l9l9.

Price, 3d.

I II • ... I £ s. d. £ s. d. £ s. d. £ s. d. Dividend at the rate of 4 per cent, on £500,000 "A" preference Balance at 31st March, 1918 .. 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 the Bank of New Zealand Act, 1913 .. .. .. .. 15,000 0 0Bonus 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 .. 60,000 0 0 Bonus at the rate of 3 per cent, on ordinary share capital .. 30,000 0 0 Amount transferred to Reserve Fund .. .. .. .. 65,000 0 0 : 1 197,500 0 0 Balance carried down .. .. .. .. .. .. 145,702 12 3 £ a. d. 343,202 12 3 £343,202 12 3 £343,202 12 3 I Twelve months' interest on guaranteed stock .. .. .. .. 21,199 10 10 Balance brought down Amount written off bank premises and furniture .. .. .. 50,000 0 0 Profits for year ended 31st March, 1919, including Interim aividend paid 7th December, 1918— 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 Oj vision for bad and doubtful debts, for the annual 6 per cent, on ordinary shares, £1,000,000 .. .. .. 60,000 0 0: donation to the Provident Fund, and for a special 105,000 0 0 grant thereto, also for bonus to staff .. ..j .. 1,217,153 6 3 Balance, being net profit for year .. .. .. ..I 388,021 13 6 Less — Amount brought forward from last year .. .. ..I 145,702 12 3 ; Salaries and allowances at Head Office and 203 branches and agencies .. .. -.. I 0,572 5 6 533,724 5 9 Directors'remuneration, including London Board 4,650 0 0 Less interim dividend paid, as above .. .. .. 105,000 0 0 General expenses, including rent, stationery, 428,724 5 9 telegrams, postages, travelling, repairs to i premises, &c. .. .. .. .. 83,982 1 1 Audit Expenses Account .. .. .. : 2,455 2 7 Rates and taxes .. .. .. .. 386,272 12 9 — 757,932 1 11 £604,923 16 7 145,702 12 3 459,221 4 4 £604,923 16 7 459,221 4 4 £604,923 16 7 Eeserve Fund. Balance £ s. d. 2,350,000 0 0 Balance, per last statement .. Amount to be added from profits for ye.xr ended 31st March, 1919 £ a. d. .. 2,200,000 0 0 150,000 0 0 £2,350,000 0 0 £2,350,000 0 0