BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1921.

Appendix to the Journals of the House of Representatives, 1921 Session I-II, B-15

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Session II 1921 NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1921.

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, 1921.

Liabilities. Assets. Capital— £ s. d. £ s. d. Four-per-cent. guaranteed stock .. .. .. .. 529,988 10 6 Coin and cash balances at bankers .. Preference " A " fully paid £1 shares, issued to the New Government notes —Commonwealth, Fijian Zealand Government .. .. .. .. .. 500, 000 0 0 ministration Preference " B " fully paid £1 shares, issued to the New Notes of other banks (legal tender) Zealand Government .. .. .. .. .. 625,000 0 0 Bullion on hand and in transit Ordinary shares of £1, fully paid .. .. .. 2,250,000 0 0 Money at call and short notice, Government .i i.iii noo 111 ti . 14.: — :_ T ; — £ s. d. Assets. £ s. d. £ s. d. Coin and cash balances at bankers .. •• •• •■ •• 5,925,791 0 11 Government notes —Commonwealth, Fijian, and Samoan Administration .. .. .. ■- •- •■ ■• 190,996 5 0 Notes of other banks (legal tender) .. .. •■ •• 564,06110 0 Bullion on hand and in transit .. ■■ •• ■- 4,889 13 3 Money at call and short notice, Government securities, and other securities in London .. .. ■• •• •• 6,114,822 15 1 Bills receivable in London and in transit .. .. .. 2,209,533 11 0 8.324.356 6 1 3,904,988 10 6 3,904,988 10 6 securities in London Hills receivable in London and m transit Reserve Fund .. .. .. .. .. .. .. 1,375,000 0 0 Tn vpstmpnf.s in flip himnininn — 1,375,000 0 0 Investments in the Dominion — Notes in circulation .. .. .. .. .. .. 4,741,492 10 0 New Zealand Government securities ATiinipinnl Kpp.nritipe; 4,741,492 10 0 0,dZ*,dOO O 1 Investments in the Dominion — New Zealand Government securities .. .. ■■ 3,225,987 10 0 Municipal securities .. .. ■• •■ •• 287,114 10 0 3,513,102 0 0 Municipal securities Deposits .. .. .. .. .. .. .. 34,475,655 3 3 34,475,655 3 3 Bills payable and other liabilities, including provision for doubt- Australian Government securities ful debts and for depreciation in investment securities, also contingencies .. .. .. .. .. .. 4,116,573 16 0 Bills discounted .. Reserve for taxes .. .. .. .. .. .. 426,000 0 0 Other advances and securities, and debts du Balance of profit and loss .. .. .. .. .. .. 726,900 16 9 Landed property, premises, &c. £49,766,610 16 6 4,116,573 16 0 426,000 0 0 Australian Government securities .. .. .. •• •- 399,316 13 4 Bills discounted .. .. .. .. ■• ■• ■■ 2,780,753 15 6 Other advances and securities, and debts due to the bank .. .. 27,725,874 17 1 Landed property, premises, cfce. .. .. ■• •■ •• 337,468 15 4 £49,766,610 16 6 726,900 16 9 49,766,610 16 6 I 1—— II I = This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement, marked "B." —Richard W. Gibbs, Chief Auditor.

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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 accounts I am satisfied that they have been correctly compiled from the books and accounts of the bank. of the bank, and that the balance-sheet is a full and fair balance-sheet, properly drawn up, and exhibits 2. That I am also satisfied that the said balance-sheet is a full and fair balance-sheet, properly : a true and correct view of the state of the bank's affairs at the date thereof, drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. Dated this 4th day of .Tune, 1921. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as at H. Buckleton, General Manager, the date of the said balance-sheet were held at the Head Office in Wellington, and have had access A. H. Bath, Accountant. 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 6th day of June, 1921. Richard W. Gibbs, Chief Auditor. '

B.—Profit and Loss, 31st March, 1921.

Approximate Cost of Paper. —Preparation, not given ; printing (500 copies), £5 15s.

By Authority : Marcus F. Marks, Government Printer, Wellington.—l92l

Price 3d. ]

Dividend on £500,000 " A " preference shares Dividend on £250,000 " B " preference shares Bonus on " B " preference shares Dividend on ordinary share capital Bonus on ordinary share capital Amount transferred to Reserve Fund 1 ■ • I £ s. d. 20,000 0 0 18,750 0 0 10,000 0 0 75,000 0 0 40,000 0 0 150,000 0 0 £ s. d. Balance at 31st March, 1920 .. £ s. d. £ s. d. £ s. d. 460,270 2 3 £ s. d. £ s. d. 460,270 2 3 Balance carried down £ 313,750 0 0 146,520 2 3 £460,270 2 3 r.i«n or/ a o o £460,270 2 3 £460,270 2 3 £460,270 2 3 . __= Twelve months' interest on guaranteed stock Amount written off bank premises and furniture Interim dividend paid 11th December, 1920 — On " A " preference shares, £500,000 On " B " preference shares, £250,000 On ordinary shares, £1,500,000 .. 43,750 0 0 21,875 0 0 131,250 0 0 21,199 10 11 50,000 0 0 21,199 10 11 50,000 0 0 196.875 0 0 Balance brought down Profits for year ended 31st March, 1921, including recoveries, and after payment of and provision for all interest due and accrued on deposits, provision for bad and doubtful debts, and other contingencies, for the annual donation to the Provident Fund, also for bonus to staff Less — Salaries and allowances at Head Office and 211 branches and agencies Directors' remuneration, including London Board General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. .. .. Audit Expenses Account Rates and taxes 146,520 2 3 1,844,017 2 2 355,174 11 5 6,650 0 0 145,905 4 11 2,737 0 11 485,094 19 6 196,875 0 0 Balance, being net profit for year Amount brought forward from last year 777,255 14 6 146,520 2 3 „ „ 777,255 14 6 146,520 2 3 i»o,o/o u u Less interim dividend paid, as above 923.775 16 9 I 196,875 0 0 923,775 16 9 196,875 0 0 726,900 16 9 £994,975 7 8 995,561 16 9 848 455 5 :i ! S4S,4oo O O £994,975 7 Reserve Fuxd. £ s. d. Amount transferred to Capital Account at 31st December, 1920, in terms of section 4 of Bank of New Zealand Act, 1920 Balance 1,125,000 0 0 1,525,000 0 0 Balance, per last statement Amount to be added from profits for year ended 31st March, 1921 £ s. d 2,500,000 0 ( 150,000 0 ( £2,650,000 0 0 £2,650,000 0 (