BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1915.

Appendix to the Journals of the House of Representatives, 1915 Session I, B-15

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1915 NEW ZEALAND

BALANCE-SHEET OF THE BANK OF NEW ZEALAND FOR THE YEAR ENDED 31st MARCH, 1915.

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, 1915.

Liabilities. -.ssbts. Capital — £ s. d. £ s. d. £ s. d. £ a ,j jg j Four-per-cent. guaranteed stock .. .. .. 528,988 10 6 Coin and cash balances at banker's .. .. .. .. .. 4 617 060 16 9 " A " preference shares fully paid up, issued » to the New Zealand Government .. .. 500,000 0 0 Bullion on hand and in transit .. .. .. .. .. 210 461 9 3 "B" preference shares fully paid up, issued Money at call and short notice, Government securities, and other to the New Zealand Government .. .. 250,000 0 0 securities in London .. .. .. .. ..5 136 996 14 7 Ordinary shares, 150,000 at £6 13s. 4d. .. 1,000,000 0 0 Bills receivable in London and in transit .. .. .. 3,301! 301 8 11 __tid up to £3 6s. 8d. per share .. .. 500,000 0 0 ' 8.438,298 3 6 New ordinary shares, 75,000 at £6 13s. 4d. .. 500,000 0 0 Investments in the colonies — Of which paid up at date .. .. .. 475,710 0 0 Colonial Government securities .. .. .. .. 718 681 0 0 ■ ; — 2,254,698 10 6 Municipal securities .. .. .. .. ,. 242,906 6 5 Reserve Fund, of which £1,000,000 is invested in British Govern- , ' g g ment securities, the balance being employed in the business of the bank .. .. .. .. .. .. .. 1,915,536 7 2 Bills discounted .. .. .. .. .. I ._ 4 435 aqq jq 44 Notes in circulation .. .. .. .. .. .. 1,676,051 0 0 Deposits .. .. .. .. .. .. .. .. 18,741,657 3 3 Other advances and securities, and debts due to the bank .. .. 10 662 707 4 5 Bills payable and other liabilities, including provision for doubt- Landed property, premises, &e. .. .. .. ,. ._ 451 §57 3 g ful debts and for depreciation in investment securities .. .. 1,670,103 7 10 Balanoe of Profit and Loss .. .. .. .. .. .. 270,394 10 9 £26.528,440 19 6 £126,528,440 19 6 This is the balance-sheet referred to in the certificate on attached Profit aud Loss Statement, marked " B." —B. M. Litchfield, Chief Auditor.

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B.—Profit and Loss, 31st March, 1915.

Approximate Cost of Paper. —Preparation, not ju'veu ; priiltiug (U5O ooples), £2 12_. 6d.

By Authority : John Mackay, Government Printer, Wellington.—l9l6.

Price 3d.]

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I £ a. d. £ s. d. I £ s. d. £ s. d. ! £ g. d. Dividend at the rate of 4 per cent, on £500,000 "A" preference Balance, 31st Maroh, 1914 .. .. .. .. .. 291,608 8 10 shares issued to the New Zealand Government in terms of the Bank of New Zealand Act, 1903 .. .. .. ..j 20,000 0 0 Dividend at the rate of 6 per cent, on £500,000 ordinary share capital .. .. .. -. •• •• •• 30,000 0 0 Bonus at the rate of 3 per cent, on ordinary share capital .. 15,000 0 0 Amount transferred to Reserve Fund .. .. .. .. 175,000 0 0 — 240,000 0 0 Balance carried down .. .. .. .. .. .. 51,608 8 10 £291,608 8 10 £291,608 8 10 - - Twelve months' interest on guaranteed stock .. .. .. .. 26,680 15 4 Balance brought down .. .. .. .. .. 51.608 8 10 Amount written off bank premises and furniture .. .. .. 50,000 0 0 Profits for year ended 31st March, 1915, including Interim dividend paid 12th December, 1914 — 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, prosper cent, on " B" preference shares, £250,000 .. .. 15,000 0 0 vision for bad and doubtful debts, for annual 6 per oent. ordinary shares.. .. .. .. .. 55,699 19 6 donation to Provident Fund, and for bonus to 100,699 19 6 staff .. .. .. .. .. .. 755,239 15 0 Balance, being net profit for year .. .. .. .. 319,486 1 5 Less — Amount brought forward from last year .. .. .. 51,608 8 10 Salaries and allowances at Head Office and 213 branches and agencies .. .. .. 211,320 12 2 371,094 10 3 Directors'remuneration, including London Board 4,172 5 2 Less interim dividend paid, as above .. .. .. 100,699 19 6 General expenses, including rent, stationery, 270,394 10 9 telegrams, postages, travelling, repairs to premises, &o. .. .. .. .. 66,722 0 7 Audit Expenses Account .. .. .. 2,309 8 6 j Rates and taxes .. .. .. .. 74,548 11 10 I ' 359,072 18 3 396,166 16 9 £447,775 5 7 . . £447,775 5 7 Reserve Fund. £ s - d -i £ s. d. Balance .. .. .. .. .. .. .. .. .. 2,000,000 0 0 Balance, per last statement .. .. .. .. .. .. .. i 550 000 0 0 Premium on new shares issued, less expenses of issue .. .. .. .. 365 536 7 2 Amount to be added from profits for year ended 31st March, 1915 .. .. 84,463 12 10 £2,000,000 0 ol £2,000,000 0 0 CERTIFICATES. I, Burnet Murray Litchfield, 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 ha've 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, 1915. as at the date of the said balance-sheet were held at the Head Office in Wellington, and have had W. Oallendbb, General Manager access to certified returns of so much thereof as were then held at the various branches and agencies A. McLennan Accountant of the bank or were then in transit. Dated this 2nd day of June, 1915. B. M. Litchfield, Chief Auditor.