BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1935.

Appendix to the Journals of the House of Representatives, 1935 Session I, B-15

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1935. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 3 1st MARCH, 1935.

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

BANK OF NEW ZEALAND. Incorporated by Act of the General Assembly, 29th July, 1861. Authorized Capital. £ s. d. Preference A shares-500,000 at £1 500,000 0 0 C long-term mortgage shares—46B,7so at £1 .. •• •• 468,750 0 0 D long-term mortgage shares —937,500 at £1 .. ■■ •• " , n a Preference B shares—l,37s,ooo at £1 •• •• •• •• Ordinary shares—3,7so,ooo at £1 3,750,000 0 0 £7,031,250 0 0 Subscribed Capital. £ s. d. Preference A shares issued to the New Zealand Government . . .. .. 500,000 0 0 C long-term mortgage shares issued to the New Zealand Government .. 234,375 0 0 D long-term mortgage shares .. •• •• •• 468,750 0 0 Preference B shares issued to the New Zealand Government .. .. .. 1,375,000 0 0 Ordinary shares .. •• . •• •• •• . . 3,750,000 0 0 £6,328,125 0 0 Capital Paid up. £ s. d. Preference A shares issued to the New Zealand Government .. .. .. 500,000 0 0 C long-term mortgage shares issued to the New Zealand Government .. 234,375 0 0 D long-term mortgage shares .. •• •• •• •• •• 468,750 0 0 Preference B shares issued to the New Zealand Government .. .. .. 1,375,000 0 0 Ordinary shares 3,750,000 0 0 £ s. d. 6,328,125 0 0 Reserve Fund 3,575 000 0 0 Undivided profits •• 348,137 137 13 0 £10,251,262 13 0

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BANK OF NEW ZEALAND. Balance-sheet at 31st March. 1935. Liabilities. Assets. Capital— £ s- d. £ s. d. £ s. d. £ s. d. Preference A fully paid £1 shares issued to the New Zealand Coin, Reserve Bank notes, and deposits with bankers .. 7,031,454 8 6 Government .. .. .. .. .. 500,000 0 0 Government notes: Commonwealth, Fijian, and Samoan C long-term mortgage fully paid £1 shares issued to the New Administration .. .. .. .. .. 113,082 0 0 Zealand Government ' .. .. .. .. 234,375 0 0 Balances due by other banks .. .. .. .. 33,255 4 5 D long-term mortgage fully paid £1 shares .. .. 468,750 0 0 Money at call and short notice, Government securities and Preference B fully paid £1 "shares issued to the New Zealand other securities in London .. .. .. .. 7,585,468 0 8 Government .. .. .. .. .. 1,375,000 0 0 Bills receivable in London and in transit .. .. .. 1,475,537 19 2 Ordinary fully paid £1 shares .. .. .. .. 3,750,000 0 0 New Zealand Government securities .. .. .. 3,147,671 16 0 6,328,125 0 0 Australian Government securities .. .. .. 4,852,138 16 2 Reserve Fund .. .. .. .. •• .. 3,575,000 0 0 Municipal and other local bodies'securities .. .. 299,346 3 11 Long-term mortgage debenture stock .. .. .. .. .. 607,050 0 0 Remittances in transit between branches .. .. .. 1,369,450 17 3 Notes in circulation .. .. .. .. .. .. .. 503,778 10 0 25,907,405 6 1 Deposits .. .. .. •• •• 33,198,613 19 2 Bills discounted .. .. .. .. .. .. •• 519,340 11 2 Balances due to other banks .. .. .. .. .. .. 61,145 13 9 Other advances and securities and debts due to the bank, after deducting proBills payable and other liabilities (including provision for contingencies) .. 3,777,295 3 9 vision for bad and doubtful debts .. .. .. .. .. 20,971,391 9 9 Reserve for taxes .. .. .. .. .. 426,000 0 0 Landed property, premises, &c, .. .. .. .. .. ■■ 673,677 11 3 London Office acceptances under credits .. .. .. .. .. 58,179 12 10 Liabilities of customers for acceptances, per contra .. .. .. .. 58,179 12 10 Transfers from Long-term Mortgage Department .. .. .. .. 275,984 11 1 Long-term Mortgage Department .. .. .. .. .. 1,310,175 0 0 Balance of profit and loss ... .. .. • • • • • • 628, 997 0 6 £49,440,169 11 1 £49,440,169 11 1 Long-term Mortgage Department. Long-term Mortgage Fund— £ s. d. £ s. d. Capital .. . . .. -. • ■ • • • • • • 703,125 0 0 Loans .. .. .. .. .. .. • • • • 1,034,190 8 11 Debenture stock .. .. .. .. .. .. .. 607,050 0 0 Transfers to bank .. .. .. .. .. .. .. 275,984 11 1 £1,310,175 0 0 £1,310,175 0 0 This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement marked " B."— A. Hempton, Chief Auditor.

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Profit and Loss. ~ n , . i aVinrpa 7 031 5 0 j Balance at 31st March, 1934 .. .. • ■ • • • • • • 624,468 3 10 Dividend on C long-term mortgage shares .. •• " Dividend on D long-term mortgage shares .. .. ° Dividend on preference B shares .. ■ • • • " ' 'J?, , ~ Dividend on ordinary share capital .. . ■ • • • • 18/,ow Balance carried down .. .. • • • ■ • • • • 343,608 16 4 £624,468 3 10 £624,468 3 10 £ s. d. * £ s. d. , 6,476 4 6 Balance brought down .. .. . • •• •• •• •• 343,608 16 4 Interest on guaranteed stock ■••• '' " £s d Profits for year ended 31st March, 1935, including recoveries, and Dividend paid Bth December, 1934 • ■ afler payment Q f an( j provision for all interest due and accrued Dividend on preference A shares .. *• " 7 ? 031 50 on deposits, provision for bad and doubtful debts, depreciation Interim dividend on C long-term mortgage sha . • , furniture, and for the annual donation to the Provident £ s. d. Interim dividend on D long-term mortgage shares .. .. 17,578 / b " ™7' .. .. 1,468,370 11 1 Interim dividend on preference B shares 31,260 0 0 LessInterim dividend on ordinary shares .. •• ' 293,359 7 6 Salaries and allowances at Head Office and £s. d. , , . nj.rj.-u 5*7» 747 11 8 223 branches and agencies .. .. 520,911 17 2 33cil<inc6, being profit tor tiiG yG&r .. ,*"<> i'r ij. ' rpimiTipratioii including London To which has to be added: Amount brought forward from last Board and local directors in Australia .. 9,937 10 0 year, ■•**'* * * ' * * ' . General expenses, including rent, stationery, 922,356 8 0 telegrams, postages, travelling, repairs to v 293 359 7 6 premises, &c. .. •• 117,710 10 8 Less dividend paid, as above Q g Audit Expenses Account .. .. 3,148 0 0 Rates and taxes .. •• 231,438 17 1 883,146 14 11 585,223 16 2 £928,832 12 6 £928,832 12 6

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Reserve Fund. £ s. d. £ s. d. Balance .. .. .. .. .. .. .. .. 3,575,000 0 0 Balance per last statement .. .. .. .. .. .. 3,575.000 0 0 £3,575,000 0 0 £3,575,000 0 0 Note.—London assets are shown in this balance-sheet in sterling, and no provision has been made for their appreciation in their relation to New Zealand currency, apart from an adjustment for London exchange transactions for the year. CERTIFICATES. We hereby certify that, having carefully examined the foregoing balance-sheet (marked " A ") and statements, we are satisfied that they have been correctly compiled from the books and accounts of the bank, and that the 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 thereof. Dated this 22nd day of May, 1935. F. W. Dawson, General Manager. A. W. Hall, Accountant. I, Arthur Lewis Hempton, the Chief Auditor of the Bank of New Zealand, do hereby certify— 1. That, having carefully examined the foregoing balance-sheet (marked " A ") and statements, I am satisfied that they have been correctly compiled from the books and accounts of the Bank. 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 thereof. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as at the date of the said balance-sheet were held at the Head Office, in Wellington, and have had access 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 27th day of May, 1935. A. Hempton, Chief Auditor.

By Authority: G, H. Loney, Government Printer, Wellington.— 1935. Price 3d. j

Approximate Cost of Paper.—Preparation, not given; printing (420 copies), £3 10s.

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