BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1922.

Appendix to the Journals of the House of Representatives, 1922 Session I, B-15

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1922. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEA R ENDED 31st MARCH, 1922.

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, 1922. Liabilities. Assets. Capital— £ s. d. £ s. d. £ s. d. £ s. d. Four-per-cent. guaranteed stock .. .. .. .. 529,988 10 6 Coin, cash balances, and deposits with bankers .. .. .. 7,427,410 4 7 Preference "A" fully paid £1 shares, issued to the New Government notes— Commonwealth, Fijian, and Samoan AdZealand Government .. .. .. .. .. 500,000 0 0 ministration .. .. .. .. .. .. .. 105,943 15 0 Preference "B" fully paid £1 shares, issued to the New Notes of other banks (legal tender) .. .. .. .. .. 186,665 0 0 Zealand Government .. .. .. .. .. 625,000 0 0 Bullion on hand and in transit .. .. .. .. .. 2,858 12 1 Ordinary shares of £1 fully paid . .. .. 2,250,000 0 0 Money at call and short notice, Government securities, and other 3,904,988 10 6 securities in London .. .. .. .. .. 4,105,402 15 1 Bills receivable in London and in transit .. .. .. 2,869,860 18 5 Reserve Fund .. .. .. .. .. .. .. ; 1,525,000 0 0 6,975,263 13 6 Investments in the Dominion— Notes in circulation .. .. .. .. .. !.. 4,294,230 0 0 New Zealand Government securities .. .. .. 3,128,151 12 6 Municipal securities .. .. .. .. .. 287,114 10 0 Deposits .. .. .. .. .. .. .. .. 28,676,603 6 7 3,415,266 2 6 Bills payable and other liabilities (including provision for Australian Government securities .. .. .. .. .. 136,750 13 4 doubtful debts and for depreciation in investment securi- |- • ties, also contingencies) .. .. .. .. .. .. 3,713,175 910 Bills discounted .. .. .. .. .. .. .. ; 1,471,429 15 9 Reserve for taxes .. .. .. .. .. .. .. 426,000 0 0 Other advances and securities, and debts due to the bank .. | .. 23,312,130 6 8 Balance of profit and loss .. .. .. .. .. .. 790,193 11 3 Landed property, premises, &c. .. .. .. .. .. 296,472 14 9 £43,330,190 18 2 £43,330,190 18 2 This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement, marked " B."— R. A. Holmes, Assistant Auditor.

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B.—Profit and Loss, 31st March, 1922.

Price 3d.\

Approximate Cost of Paper.—Preparation, not given; printing (475 copies), £5.

By Authority : W. A. G. Skinner, Government Printer, Wellington.—l 922.

Dividend on £500,000 preference " A " shares .. Dividend on £625,000 preference " B " shares .. Dividend on ordinary share capital Amount transferred to Reserve Fund Balance carried down Twelve months' interest on guaranteed stock Amount written off bank premises and furniture Dividend paid 17th December, 1921— On preference " A " shares, £500,000.. on preference " B " shares, £625,000 On ordinary shares, £2,250,000 Balance, being net profit for year Amountjbrought forward from last year Less dividend paid, as above £ s. d. < £ s. d. £ a . d. ! £ s. d. £ s. d. 6,250 0 0 Balance at 31st March. 1921 .. .. .. .. .. 726 900 16 9 40,625 0 0 .. 168,750 0 0 .. j 150,000 0 0 365,625 0 0 361,275 16 9 £726,900 16 9 726,900 16 9 21,199 10 2 Balance brought down .. .. .. .. .. 361,275 16 9 50,000 0 0 Profits for year ended 31st March, 1922, including recoveries, and after payment of and provision 50,000 0 0 for all interest due and accrued on deposits, 21,875 0 0 provision for bad and doubtful debts, and other 131,250 0 0 contingencies, for the annual donation to the 203,125 0 0 Provident Fund, for special grant to increase .. 632,042 14 6 pension benefits, also for bonus to staff .. .. 1,809,255 14 7 .. 361,275 16 9 Less— ; ; Salaries and allowances at Head Office and 213 993,318 11 3 branches and agencies .. .. .. j 377,514 3 6 .. j 203,125 0 0 Directors'remuneration, including London Board 7,275 0 0 : 790,193 11 3 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, cfec. .. .. .. .. 139,879 19 1 Audit Expenses Account .. .. .. 3,504 12 0 Rates and taxes .. .. .. .. 577,839 15 4 1,106,013 9 11 , 703,242 4 8 £1,064,518 1 5 £1,064,518 1 5 ,242 4 £1,064,518 1 Reserve Fund. Balance & s. d. 1,675,000 0 0 Balance, per last statement .. Amount to be added from profits for year ended 31st March, 1922 £ s. d .. 1,525,000 0 t 150,000 0 ( £1,675,000 0 0 £1,675,000 0 C CERTIFICATES. I, Robert Arthur Holmes, the Assistant 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, properlv 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 24th day of May, 1922. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had H. Buckeeton, General Manager, access to certified returns of so much thereof as were then held at the various branches and agencies , A. H. Bath, Accountant, of the bank or were then in transit. Dated this 27th day of May, 1922. R. A. Holmes, Assistant Auditor.