8.—16.

Profit and Loss Account for Year ended 31st March, 1938. Dr. Gr. General charges, including salaries, rent, £ s. d. Balance of profit after making provision £ s. d. cost of note-issue, and other expenses 90,753 15 9 for rebate on Treasury bills not yet Staff Superannuation and Provident due, and for sundry liabilities and Fund .. .. .. .. 12,500 0 0 contingencies .. .. .. 299,064 19 4 Balance, being profit for year .. 195,811 3 7 £299,064 19 4 £299,064 19 4 Profit and Loss Appropriation Account. Dr. Cr. Payment to New Zealand Government £ s. d. £ s. d. in terms of section 36 of Reserve Bank Balance at Ist April, 1937 .. .. 47,142 13 6 of New Zealand Act, 1933 .. .. 47,142 13 6 Balance from Profit and Loss Account.. 195,811 3 7 Balance .. .. .. .. 195,811 3 7 £242,953 17 1 £242,953 17 1 £ s. d. Balance .. .. .. .. 195,811 3 7 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. General Reserve Fund .. .. 1,500,000 0 0 Gold (at face value) .. .. 2,801,791 0 0 Bank-notes .. .. .. 13,553,546 10 0 Sterling exchange .. .. 16,535,053 .16 0 Demand liabilities — Subsidiary coin .. .. .. 227,798 0 7 (a) State .. .. .. 6,138,218 10 7 Advances— (ft) Banks .. .. .. 5,477,773 19 2 (a) To the State or State under(c) Other .. .. .. 271.175 2 5 takings — Other liabilities .. .. .. 96,992 10 3 (1) Primary Products MarketProfit and Loss Appropriation Account 195,811 3 7 ing Department .. 5,200,848 17 5 Investments .. .. .. 2,423,525 0 0 Other assets .. .. .. 44,501 2 0 N.B. —Holdings of sterling have been converted into New Zealand currency at the rate of £100 sterling equals £124 (N.Z.). £27,233,517 16 0 £27,233,517 16 0 L. Lefeaux, Governor. W. L. Ward, Deputy Governor. W. H. Welsh, Chief Accountant. Auditors' Certificate and Report.—We have audited the balance-sheet as at 31st March, 1938, above set forth, and have obtained all the information and explanations we have required. We have accepted the certificate of the Bank of England as to assets held on account of the Reserve Bank of New Zealand. In our opinion, the balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the affairs of the Bank as at 31st March, 1938, according to the best of our information and the explanations given to us and as shown by the books of the Bank. D. G. J™TON} Public Accoulltants > Auditors. Wellington, New Zealand, 26th May, 1938.

Approximate Cost of Paper.—Preparation, not given ; printing (840 copies), £14.

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

Price 6d.]

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