B—ls

Conclusion The accompanying Balance-sheet shows the Bank to be in a strong and liquid position. The assets have been conservatively valued and full provision for possible bad debts has been made. The Bank is well equipped to meet its customers' requirements, both in the Dominion and overseas, and give a complete banking service. For and on behalf of the Board of Directors, A. T. Donnelly, Chairman. Head Office, Bank of New Zealand, Wellington, 19th May, 1949. "A" BANK OF NEW ZEALAND Incorporated by Act of the General Assembly, 29th July, 1861 Authorized Capital £ s. d. 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,soo at £1 .. .. .. 937,500 0 0 Preference B shares—l,37s,ooo at £1 .. .. .. .. 1,375,000 0 0 Ordinary shares—3,7so,ooo at £1 .. .. .. .. 3,750,000 0 0 £7,031,250 0 0 Subscribed Capital £ s. d. Preference A shares .. .. .. .. .. .. 500,000 0 O C long-term mortgage shares .. .. .. .. .. 234,375 0 0 D long-term mortgage shares .. .. .. .. 468,750 0 O Preference B shares .. .. .. .. .. .. 1,375,000 0 0 Ordinary shares .. .. .. .. .. .. 3,750,000 0 0 £6,328,125 0 0 Paid-up Capital £ s. dPreference 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 £ s. d. 6,328,125 0 0 Reserve Fund .. .. .. .. 3,575,000 0 0 Undivided profits .. .. .. .. 432,930 010 4,007,930 0 10 £10,336,055 0 10

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