8.—15

"B."— Profit and Loss.

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£ s. d. £ s. d. £ s. d. £ s. d. i £ s. d. Dividend oil C long-term mortgage shares .. .. 878 18 1 Balance at 31st March, 1927 .. .. .. .. .. |1,214,803 3 4 Dividend on D long-term mortgage shares .. .. 2,185 5 9 Dividend on preference B shares ...... 120, 833 6 8 Bonus on preference B shares .. .. .. .. 18,750 0 0 Dividend on ordinary share capital .. .. .. 250,000 0 0 Bonus on ordinary shares .. .. .. .. 37,500 0 0 Amount transferred to Reserve Fund .. .. .. 200,000 0 0 | 630,147 10 6 Balance carried down .. .. .. .. .. 584,655 12 10 £1,214,803 3 4 £1,214,803 3 4 Balance brought down .. .. .. .. .. 584,655 12 10 — Profits for year ended 31st March, 1928, including Twelve months' interest on guaranteed stock .. .. .. 21,199 8 11 recoveries, and after payment of and provision Dividend paid, 3rd December, 1927 — for all interest due and accrued on deposits, On preference A shares .. .. .. .. 50,000 0 0 i provision for bad and doubtful debts, and other , On C long-term mortgage shares .. .. .. 2,636143 contingencies, for the annual donation to the On D long-term mortgage shares .. .. .. 6,578 17 6 ' Provident Fund, also for bonus to staff .. 1,816,869 7 11 On preference B shares .. .. .. .. 41,666 13 4 | Surplus on realization and on maturity of GovernOn ordinary shares .. .. .. .. .. 250,000 0 0 ment and other securities .. .. .. 73,510 13 10 350,882 5 1 1,890,380 1 9 Balance, being profit on the ordinary operations of the bank Less — for the year .. .. .. .. .. 841,878 5 1 Salaries and allowances at Head Office and 237 To which has to be added — branches and agencies .. .. .. 466,380 2 6 Surplus on realization and on maturity of Government and Directors' remuneration, including London other securities .. .. .. .. .. 73,510 13 10 Board .. .. .. .. 9,312 10 0 Amount brought forward from last year .. .. 584,655 12 10 General expenses, including rent, stationery, — telegrams, postages, travelling, repairs to 1,500,044 11 9 premises, &c. .. .. .. .. 151,844 0 5 Less dividend paid, as above.. .. .. .. 350,882 5 1 Audit Expenses Account .. .. .. 2,915 18 4 1,149,162 6 8 Rates and taxes .. .. .. .. 323,339 2 8 953,791 13 11 936,588 7 10 £1,521,244 0 8 £1,521,244 0 8 Reserve Fund. £ s. d. £ s. d. Balance.. ... .. .. .. .. .. .. .. 3,150,000 0 0 Balance per last statement .. .. .. .. .. .. .. 3,025,000 0 0 Premium on D long-term mortgage shares (fractions and unallotted) .. .. 824 13 11 Amount to be added from profits for year ended 31st March, 1928 .. .. 124,175 6 1 £3,150,000 0 0 £3,150,000 0 0 CERTIFICATES. I, Arthur Richard Wenman Pennefather Green, the Chief Auditor of the Bank of New Zealand, We hereby certify that, having carefully examined the foregoing balance-sheet (marked "A") do hereby certify — and statements, we are satisfied that they have been correctly compiled from the books and accounts 1. That, having carefully examined the foregoing balance-sheet (marked "A") and statements, of the bank, and that the balance-sheet is a full and fair balance-sheet, properly drawn up, and I am satisfied that they have been correctly compiled from the books and accounts of the bank. exhibits a true and correct view of the state of the bank's affairs at the date thereof. 2. That I am also satisfied that the said balance-sheet is a full and fair balance-sheet, properly ! Dated this 28th day of May, 1928. drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. A. Hempton, Acting Genera] Manager. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as N. Fbatherstone, Accountant. 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 30th day of May, 1928. A. P. Gkeen, Chief Auditor.