B.—l [PT. IV].

BANK OF NEW ZEALAND SHARES ACCOUNT. Income and Expenditure Account fob the Year ended 31st March, 1938. Expenditure,. £ s. d. Income. £ s. d. Interest on consolidated stock .. .. 32,500 0 0 Dividends declared for the year .. .. 164,062 10 0 Management charges on consolidated stock .. 257 10 9 Excess of income over expenditure .. .. 131,304 19 3 £164,062 10 0 £164,062 10 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Loan capital, New Zealand Consolidated Stock —• Bank of New Zealand shares (at nominal value) — 3|-per cent., 1940 .. .. .. 500,000 0 0 500,000 preference A shares .. .. 500,000 0 0 4 per cent.. 1943-63 .. .. .. 375,000 0 0 1,375,000 preference B shares .. .. 1,375,000 0 0 Consolidated Fund capital .. .. .. 984,375 0 0 234,375 long-term mortgage C shares .. 234,375 0 0 Capital reserve .. .. .. .. 250,000 0 0 Dividends declared but not paid .. .. 75,781 5 0 Accrued interest on consolidated stock .. 6,650 13 9 Treasury Adjustment Account .. .. 62,174 8 0 Excess of income over expenditure .. .. 131,304 19 3 £2,247,330 13 0 £2,247,330 13 0 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Lond.), Assistant Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

Approximate Cost of Paper.—Preparation, not given ; printing (547 copies), £132 10s.

Authority: E. V. Paul, Government Printer, Wellington —1938.

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