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RESERVE BANK OF NEW ZEALAND Profit and Loss Account for the Year ended 31st March, 1944 Dr. £ s. d. Or. £ s. d" General charges, including salaries, rent, Balance of profit after making provision cost of note issue, and other expenses 221,890 13 9 for rebate on Treasury Bills not yet duo, Balance, being profit for year .. .. 476,473 6 10 and for sundry liabilities and contingencies .. .. .. . . 098,3ti4 0 7 £698,364 0 7 £698,364 0 7 Profit and Loss Appropriation Account Dr. £ s. d. Cr. £ s. d. Payments to New Zealand Government in Balance as at Ist April, 1943 .. .. 379,118 11 1 terms of section 30 of Reserve Bank of Balance from Profit and Loss Account .. 476,473 0 10 New Zealand Act, 1933 .. .. 379,118 11 1 Balance .. .. 476,473 610 £855,591 17 11 £855,591 17 11 Balance-sheet as at 31st March, 1944 Liabilities £ s. d. Assets £ s. d. General Reserve Fund .. .. 1,500,000 0 0 Gold (at face value) .. .. 2,801,877 10 0 Banknotes .. .. .. 36,254,494 10 0 Sterling exchange .. .. 27,962,535 14 11 Demand liabilities:— Subsidiary coin .. .. .. 60,788 8 4 (a) State .. 13,550,448 12 6 Advances to the State or State under(b) Banks .. .. .. 28,724,627 9 9 takings— (c) Other .. .. 529,579 2 3 (1) Marketing Department .. 1,643,272 16 1 Liabilities in currencies other than New (2) For other purposes .. .. 35,885,000 0 0 Zealand currency .. .. 01,342 8 6 Investments .. .. .. 11,743,428 12 8 Other accounts .. .. .. 1,644,244 17 0 Other assets .. .. .. 2,644,307 410 Profit and Loss Appropriation Account 476,473 6 10 N.B. —Holdings of sterling have been converted into New Zealand currency at the rate of £100 sterling equals £124(N.Z.). £82,741,210 0 10 i £82,741.210 6 10 ■ I W. F. L. Ward, Governor. E. C. Fussell, Deputy Governor. W. R. Eggers, Chief Accountant. Auditors' Certificate ami Report.—We liave audited the balance-sheet as at 31st March, 1944, 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, 1944, according to the best of our information and the explanations given to ns and as shown by the books of the Bank. T G -' loHNSrtoN \Public Accountants, Auditors. J. L. Griffin J Wellington, New Zealand, 26th June, 1944.

Approximate Cost of Paper.—Preparation, not given ; printing (540 copies), £15.

Authority: E. V. Paul, Government Printer, Wellington. —1944,

Price t.'id.)

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