BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1920.

Appendix to the Journals of the House of Representatives, 1920 Session I, B-15

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1920. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1920.

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

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BANK OF NEW ZEALAND. A.—Balance-sheet at 31st March, 1920.

_ , . . ..II _ II Liabilities. fc Assets. Capital— £ s. d. £ s. d. £ s. d. Four-per-cent. guaranteed stock .. : .. ..I 529,988 10 6 Coin and cash balances at banker's .. "A" preference shares fully paid, issued to the New Zealand Government notes —Commonwealth. Fijian, and Scimoan AdGovernment .. .. .. .. .. .. 500,000 0 0 ministration "B " preference shares fully paid, issued to the New Zealand Notes of other banks (legal tender) .. Government ., .. .. .. .. .. 250,000 0 0 Bullion on hand and in transit Ordinary shares (150,000 at £6 13s. 4d., £ s. d. Money at call and short notice, Government securities, and other £1,000.000), paid up to £3 6s. 8d. per share 500,000 0 0 securities in London .. .. .. .. .. 19,622,410 15 1 Call of £3 6s. 8d. per share, payable ist April, Bills receivable in London and in transit .. .. .. j 661,230 19 11 1920. Amount paid in advance .. 347,453 6 8 847,453 6 8 Investments in the Dominion — . New ordinary shares (75,000 at £6 13s. 4d.), fully t>aid .. 500,000 0 0 New Zealand Government securities .. .. .. 3,497,553 10 0 ■ — 2,627,44117 2 Municipal securities .. .. .. .. .. '327,210 10 0 J . Reserve Fund .. .. .. .. ... .. .. 2,350,000 0 0. Commonwealth and Fijian Government securities .. .. i Notes in circulation .. .. .. .. .. .. 5,765,337 10 0 Bills discounted Deposits .. .. .. .. .. .. .. ... 37,661,610 15 6 £ s. d. 8,371,535 11 0 297,712 0 C 56,370 0 C 46,668 7 5 20,283,641 15 C , (Ui V U 239,316 13 4 1,502,233 9 10 Other advances and securities, and debts due to the bank Bills payable and other liabilities, including provision for doubtful debts and for depreciation in investment securities, also Landed property, premises, <fec. contingencies .. .. .. .. .. .. .. 3,70S, 305 0 11 17,929,615 0 11 361,108 8 4 Reserve for Taxes .. .. .. ... .. .. .. 340,000 0 0 " Balance of Profit and Loss .. .. .. .. .. .. 460,270 2 3 52,912,965 5 10 £152,912,965 5 10 £J This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement, marked " B." —Richard W. Gibes, Chief Auditor.

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B.—Profit and Loss, 31st March, 1920.

Approximate. Cost of Paper. —Preparation, not given ; printing (500 copies), £4 10s.

By Authority : Mabxus F. Marks, Government Printer, Wellington.—l92o.

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£ 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, 1919 .. 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 .. .. .. ..I 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 .. 60,000 0 0 Bonus at the rate of 3 oer cent, on ordinary share capital .. 30,000 0 0 Amount transferred to Reserve Fund .. .. .. .. 150,000 0 0 282,500 0 0 Balance carried down .. .. .. .. .. .. 146,224 5 9 £428,724 5 9 i £ s. 428,724 5 £42S,724 5 £ s. d 428,724 5 i £428,734 5 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, 1920, including Interim dividend paid 13th December, 1919 — 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 bad and doubtful debts, and'other con6 per cent, on ordinary shares, £1,000,000 .. .. .. 60,000 0 0 tingencies, for the annual donation to the Pro105,000 0 0 vident Fund, and for a special grant thereto, Balance, being net profit for year .. .. .. .. 419,045 16 6 also for bonus to staff .. .. .. .. 1,376,838 6 7 Amount brought forward from last year .. .. .. 146,224 5 9 Less — Salaries and allowances at Head Office and 212 565,270 2 3 branches and agencies .. .. .. | 308,361 16 8 Less interim dividend paid, as above .. .. .. 105,000 0 0 Directors'remuneration, including London Board 4,650 0 0 460,270 2 3 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. .. .. .. 114,397 3 6 Audit Expenses Account .. .. .. 2,700 1 8 Rates and taxes .. .. .. .. 456,483 17 5 886,592 19 3 £636,469 13 1 j 146,224 5 490,245 7 £636,469 13 OOU , OiJ£i XO (J 490,245 7 4 £636,469 13 1 Eeseeve Fund. Balance £ s. d. 2,500,000 0 0 Balance, per last statement .. Amount to be added from profits for year ended 31st March, 1920 £ s. d. .. 2,350,000 0 0 150,000 0 0 £2,500,000 0 0 £2,500,000 0 0 CERTIFICATES. I, Richard Waine Gibbs, 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 1st day of June, 1920. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had H. Buckle-ton, General Manager, access to certified returns of bo much thereof as were tnen held at the various branches and agencies A. McLennan, Accountant, of the bank or were then in transit. Dated this 2nd day of June, 1920. Richard W. Gibbs, Chief Auditor