Bank of New Zealand.

New Zealand Graphic, Volume XXXI, Issue II, 11 July 1903, Page 130

Bank of New Zealand.

THE BALANCE-SHEET. WELLINGTON, July 1. The balance-sheet of the Bank of New Zealand for the year ended March 31, 1903, was laid on the table of the House this afternoon. It is as follows:— Liabilities: Capital — 4 per cent, guaranteed stock, £2,000,000; ordinary capital called up under the Bank of New Zealand and Banking Aet, 1885, £500,000; amounts paid to date as follows (127,077 shares, with full second call, £3 6/8 per share paid, £423,590; 1730 shares, first and second calls, in course of payment, £1507; 21,193 shares forfeited, amount paid thereon, £4590) —150,000 shares, £429,688; call of 1895, made in terms of the Bank of New Zealand and Banking Aet, 1895, £3 6/8 per share, £500,000; amount collected to date and specially applied as provided by the said Act, £455,199; nominal reserve liability on shares, £435,660; preferred share capital, issued to the Crown, and repurchased in terms of the Bank of New Zealand and Banking Act, 1895, section 8, and available for reissue in terms of section 13 of the said Act, £500,000; reserve fund invested in New Zealand consols, £23,474; notes in circulation, £764,906; bills payable in circulation, £838.791; deposits, £10,520,935; other liabilities, £86,037; balance of profit and loss, £195,590: total, £14,859,423. Assets-—Coin and cash balances at bankers, £1,834,728; bullion on hand and in transit, £113,050; money at call and short notice, Government securities, and other securities in London, £2,475,285; bills receivable in London, £1,003,286; investments in the colonies — colonial Government securities, £678,131; municipal securities, £23,653; other securities, £32,400; Assets Realisation Board debentures held in London and New Zealand ( £ 1,754,600 —less discount on £22,700 issued debentures repurchased at market price, £566), £1,754.033; bills discounted, £1,886.392; other advances and securities and debts due to Bank, £4,478,647; landed property, premises, etc., £350,158; Bank of New Zealand Estates Company, assets in liquidation (book value), £212,029; Colonial Bank propertv and premises, £17,625: total. £14.859,423. Profit and Loss—Annual statutory payment to March 31, 1902, paid to Assets Realisation Board in terms of the Bank of New Zealand and Banking Act, 1895, section 11, £50.000; dividend at 5 per cent, for the year ending March 31, 1902. on share capital of £427.319, £21,366; balance of profits at March 31, 1902, paid to Assets Realisation Board in terms of the Bank of New Zealand and Banking Aet, 1895, section 11, £101,135; 12 months’ interest on guaranteed stock, £80,000; amount written off Bank premises, £7000; amount written off Colonial Bank premises, £5000; amount written off furniture account, £3000; balance for the year ended March 31, 1903, £195,590- total. £463.091. Balance from the year ended March 31, 1902, £172,501; profits for the year ended March 31, 1903, includimg Recoveries and after payment of and provision for all interest due and accrued on deposits. and provision for bad and doubtful debts in current business, £463,120 (less —salaries and allowances at head office, and 128 branches and* agencies, £110.052; directorsf remuneration, ineludjing London Board, £3045; general expenses, including rent, stationery, travelling, repairs to premises, etc., £28,841; audit expenses account, £2553; rates, taxes, telegrams and postages, £28,035 — £172,529). £290,590: total, £463,091.

Reserve Fund: Balance from the year ended March 31. 1902, £23,474.

In the above figures shillings and pence are omitted.