BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1932.

Appendix to the Journals of the House of Representatives, 1932 Session I-II, B-15

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1932. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1932.

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.

BANK OF NEW ZEALAND. Incorporated by Act of the General Assembly, 29th July, 1861. Bankers to the Government of New Zealand.

Authobized Capital. £ s. d. Four-per-cent. stock (guaranteed by New Zealand Government) .. . . 529,988 10 6 Preference A shares —500,000 at £1 .. • • ■ • ■ ■ • • • • 500, 000 0 0 C long-term mortgage shares —468,750 at £1 .. .. .. •• 468,750 0 0 D long-term mortgage shares —937,500 at £1 .. . • • • • ■ • • 937,500 0 0 Preference B shares—l,37s,ooo at £1 .. .. •• •• 1,375,000 0 0 Ordinary shares —3,750,000 at £1 .. .. •• •• 3,750,000 0 0 £7,561,238 10 6 Subscribed Capital. £ s. d. Four-per-cent. guaranteed stock .. . • • • • • • ■ • • 529,988 10 6 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 £6,858,113 10 6 up. £ s. d. Four-per-cent. guaranteed stock .. . . ■ • • • • • ■ ■ 529,988 10 6 Preference A shares .. .. • • ■ ■ ■ • • • • ■ 500,000 0 0 C long-term mortgage shares .. ■ ■ • ■ • • • • • • 234,375 0 0 D long-term mortgage shares .. . . • • • • • • • • 468,750 0 0 Preference B shares .. .. •• •• •• •• 1,375,000 0 0 Ordinary shares .. .. •• •• •• •• •• •• 3,750,000 0 0 £ a. d. 6,858,113 10 6 Reserve Fund .. ■ ■ • • ■ ■ ■ ■ ■ ■ 3,575,000 0 0 Undivided profits .. . • • • • ■ • • 395,056 5 9 3,970,056 5 9 £10,828,169 16 3

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BANK OF NEW ZEALAND. " A "—Balance-sheet as at 31st March, 1932. Liabilities. Assets. Capital—- £ s. d. £ s. d, £ s. d. £ s. d. 4-per-cent. guaranteed stock .. .. .. .. 529,988 10 6 Coin, cash balances, and deposits with bankers .. .. 7,697,240 8 4 Preference A fully paid £1 shares issued to the New Zealand Government notes : Commonwealth, Fijian, and Samoan Government .. .. .. .. .. 500,000 0 0 Administration .. . . .. .. .. 106,139 5 0 C long-term mortgage fully paid £1 shares issued to the New Notes of other banks (legal tender) .. .. .. 20,863 0 0 Zealand Government .. .. .. .. 234,375 0 0 Balances due by other banks .. .. .. .. 32,075 1 5 D long-term mortgage fully paid £1 shares .. .. 468,750 0 0 Bullion on hand and in transit .. .. .. .. 4,822 10 2 Preference-B fully paid £1 shares issued to the New Zealand Money at call and short notice, Government securities and Government .. .. .. .. .. 1,375,000 0 0 other securities in London .. .. .. .. 4,314,317 11 1 Ordinary fully paid £1 shares .. .. .. .. 3,750,000 0 0 Bills receivable in London and in transit .. .. .. 1,514,716 13 10 6,858,113 10 6 New Zealand Government securities (not including £86,581 9s. 4d. Reserve Fund .. .. .. .. .. .. .. .. 3,575,000 0 0 held in London) .. .. .. .. .. 4,682,686 4 3 Long-term mortgage debenture stock .. .. .. .. ~ 607,050 0 0 Australian Government securities .. .. .. .. 3,647,732 2 0 Notes in circulation .. .. .. .. .. .. .. 4,062,762 10 0 Municipal and other local bodies'securities .. .. .. 682,379 0 7 Deposits .. .. .. .. .. •• ■■ •• 31,565,843 0 1 Remittances in transit between branches .. .. .. 1,496,777 19 5 Balances due to other banks .. .. .. •• •• 77,242 15 10 24,199,749 16 1 Bills payable and other liabilities (including provision for contingencies) .. 3,642,948 2 11 Bills discounted .. .. .. .. .. .. .. 792,384 0 7 Reserve for taxes .. .. .. .. •• ■■ 426,000 0 0 Other advances and securities and debts due to the bank, after deducting proLondon Office acceptances under credits .. .. .. .. .. 22,397 18 4 vision for bad and doubtful debts .. .. .. .. .. 24,860,936 19 5 Transfers from Long-term Mortgage Department .. .. .. .. 124,361 19 9 Landed property, premises, &c. .. .. .. .. .. .. 622,825 2 11 Balance of profit and loss .. .. .. •• .. •• 846,748 19 11 Liabilities of customers for acceptances, per contra .. .. .. .. 22,397 18 4 Long-term Mortgage Department .. .. .. .. .. .. 1,310,175 0 0 £51,808,468 17 4 — = £51,808,468 17 4 Long-term Mortgage Department. Long-term Mortgage Fund— £ s. d. £ s. d. Capital .. .. .. .. .. •• •• •• 703,125 0 0 Loans.. .. .. .. .. .. .. .. .. 1,185,813 0 3 Debenture stock .. .. .. .. .. .. 607,050 0 0 Transfers to bank .. .. .. .. .. .. .. 124,361 19 9 £1,310,175 0 0 £1,310,175 0 0 - I 1 - 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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" B."— Profit and Loss. £ s. d. £ s. d. £ s - Dividend on C long-term mortgage shares .. .« .. 7,031 5 0 Balance at 31st March, 1931 .. .. .. •• - •• 1,102,694 7 3 Dividend on D long-term mortgage shares .. .. .. 17,57826 Dividend on preference B shares .. .. .. .. 120,833 6 8 Bonus on preference B shares .. .. .. .. 18,750 00 Dividend on ordinary share capital .. . . .. 250,000 0 0 Bonus on ordinary shares .. .. .. .. .. 37,500 0 0 Amount transferred to Reserve Fund .. .. .. 25,000 0 0 476,692 14 2 Balance carried down .. .. .. .. .. .. .. 626,001 13 1 £1,102,694 7 3 . £1,102,694 7 3 £ s. d. ■ 1 Twelve months' interest on guaranteed stock .. .. .. .. 21,199 8 11 £ s. d. Dividend paid sth December, 1931— £ s. d. Balance brought down .. .. .. .. .. •• •• 626,001 13 1 On preference A shares .. .. .. .. .. 50,000 0 0 Profits for year ended 31st March, 1932, inOn C long-term mortgage shares .. .. .. .. 7,031 5 0 eluding recoveries, and after payment of On D long-term mortgage shares .. .. .. 17,57826 and provision for all interest due and On preference B shares .. .. .. . • . • 41,666 13 4 accrued on deposits, provision for bad and On ordinary shares .. .. .. .. .. 250,000 0 0 doubtful debts and for the annual donation £ s. d. £ s. d. 366,276 0 10 to the Provident Fund .. .. .. 1,770,686 7 9 Balance, being profit for the year .. .. .. 587,023 7 8 1,770,686 7 9 To which has to be added— Less— Amount brought forward from last year .. .. .. 626,001 13 1 Salaries and allowances at Head Office and 235 branches and agencies .. .. 504,800 10 11 1,213,025 0 9 Directors' remuneration, including London Less dividend paid, as above .. -. . • • • 366,276 0 10 Board, and local directors in Australia .. 9,696 2 7 846,748 19 11 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &c. .. .. .. 142,236 1 2 Audit Expenses Account .. .. 2,896 5 2 Rates and taxes .. . . - - 502, 834 11 4 - 1,162,463 11 2 608,222 16 7 £1,234,224 9 8 £1,234,224 9 8

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" B."—continued,.— Reserve Fund. Balance .. .. .. .. .. __ 3,575,000 0 0 Balance per last statement .. .. .. .. .. 3 375 qqq g £3,575,000 0 0 £3,575,000 0 0 Note.— This balance-sheet is expressed m New Zealand currency, and no special provision has been made for the difference in the currency value of the net assets in Australia caused bv the adverse exchange rate, as the appreciation m sterling assets m London is greater than the depreciation in the net assets in Australia in so far as these are affected by the exchange rate. CERTIFICATES. of thyLnk^ml°tw y t^t'l haVin >, T 6fUU ? ,T am i n f ed l he , f ° reg rS 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 24th day of May, 1932. H . Btxckleton, General Manager. I, Arthur Lewis Hempton, the Chief Auditor of the Bank of New Zealand, do hereby certify— ' Gcoun^ant. '' 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 9 t f m so tisfied th&t the fid 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 i. lhat 1 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 01 so much thereof as were then held at the various branches and agencies of the bank, or were then in transit Dated this 31st day of May, 1932. ' A. Hempton, Chief Auditor.

By Authority: W. A. G. Skinner, Government Printer, Wellington.— 1932.

Approximate Cost of Paper.—Preparation, not given ; printing (435 copies), £4.

Price 3d.]

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