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1931. NEW ZEALAND.

BALANCE-SHEET OF THE BANK OF NEW ZEALAND AS AT 31st MARCH, 1931.

Laid, before both Houses of the General Assembly in pursuance of Section 24 of the Bank of New Zealand and Banking Act Amendment Act, 1898.

BANK OF NEW ZEALAND. Incorporated by Act of the General Assembly, 29th July, 1861. Bankers to the Government of New Zealand. Authorized Capital. £ s. d. Four-per-cent. stock (guaranteed by New Zealand Government). . .. .. 529, 988 10 6 Preference A shares—soo,ooo at £1 .. .. .. .. .. •• 500,000 0 0 C long-term mortgage shares—46B,7so 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 £7,561,238 10 6 SuBSCEiBED Capital. £ s. d. Four-per-cent. guaranteed stock .. .. .. .. .. .. 529,988 10 6 Preference A shares issued to the New Zealand Government .. .. .. 500,000 0 0 C long-term mortgage shares issued to the New Zealand Government .. .. 234,375 0 0 D long-term mortgage shares .. .. .. .. .. • • 468,750 0 0 Preference B shares issued to the New Zealand Government .. .. .. 1,375,000 0 0 Ordinary shares .. .. .. .. .. .. •• •• 3,750,000 0 0 £6,858,113 10 6 Capital paid up. £ s. d. Four-per-cent. guaranteed stock .. .. .. .. .. .. 529,988 10 6 Preference 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. 6,858,113 10 6 Reserve Fund ..3,575,000 0 0 Undivided profits .. .. .. .. •■ .. 626,00113 1 4,201,001 13 1 £11,059,115 3 7

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BANK OF NEW ZEALAND. " A."—Balance-sheet at 31st March, 1931. Liabilities. Assets. £ s. d. Capital— £ s. d. £ s. d. Coin, cash balances, and deposits with bankers .. .. .. .. 7,106,498 7 3 4-per-cent. guaranteed stock .. .. .. .. 529,988 10 6 Government notes— Commonwealth, Fijian, and Samoan Administration .. 119,596 10 0 Preference A fully paid £1 shares issued to the New Zealand Notes of other banks (legal tender) .. .. .. .. .. 22,903 0 0 Government .. .. .. .. .. 500,000 0 0 Balances due by other banks .. .. .. .. .. .. 50,370 7 10 C long-term mortgage fully paid £1 shares issued to the New Bullion on hand and in transit .. .. .. .. .. .. 3,340 9 11 Zealand Government .. .. .. .. 234,375 0 0 Money at call and short notice, Government securities and other £ s. d. D long-term mortgage fully paid £1 shares ~ .. 468,750 0 0 securities in London .. .. .. .. .. 4,170,785 4 11 Preference B fully paid £l" shares issued to the New Zealand Bills receivable in London and in transit .. .. .. 1,749,352 17 4 Government ' .. .. .. .. .. 1,375,000 0 0 5,920,138 2 3 Ordinary fully paid £1 shares .. .. .. .. 3,750,000 0 0 New Zealand Government securities (not including £148,222 3s. 2d. held in London) 3,467,26117 5 6,858,113 10 6 Australian Government securities.. .. .. .. .. .. 3,548,443 7 0 Reserve Fund .. .. .. .. .. .. .. .. 3,550,000 0 0 Municipal and other local bodies'securities .. .. .. .. 1,093,846 8 7 Long-term mortgage debenture stock .. .. .. .. .. 607,050 0 0 Bills discounted ... .. .. .. .. .. .. 1,112,960 8 5 Notes in circulation .. .. .. .. . ■ •. .. 3,679,957 0 0 Other advances and securities and debts due to the bank, after deducting proDeposits .. .. .. .. .. .. .. .. 32,324,685 5 10 vision for bad and doubtful debts .. .. .. .. .. 27,287,253 1 4 Balances due to other banks .. .. .. .. .. .. 17,613 4 6 Remittances in transit between branches .. .. .. .. .. 1,296,261 11 1 Bills payable and other liabilities (including provision for contingencies) .. 4,331,328 4 10 Landed property, premises, &c. .. .. .. .. .. .. 600,758 18 10 Reserve for taxes .. .. .. ~ .. .. .. 426,000 0 0 Liabilities of customers for acceptances, per contra .. .. .. .. 19,454 19 7 London Office acceptances under nredits .. .. .. .. .. 19,454 19 7 Long-term Mortgage Department.. .. .. .. .. .. 1,310,175 0 0 Transfers from Long-term Mortgage Department .. .. .. .. 42,365 17 0 Balance of profit and loss .. .. .. .. .. .. 1,102,694 7 3 £52,959,262 9 6 £52,959,262 9 6 Long-term Mortgage Department. Long-term Mortgage Fund— £ s. d. £ s. d. Capital .. .. .. .. .. .. .. .. 703,125 0 0 Loans .. .. .. .. ... .. .. .. 1,267,809 3 0 Debenture stock .. .. .. .. .. .. .. 607,050 0 0 Transfers to bank .. .. .. .. .. .. .. 42,365 17 0 I ■ ■ £1,310,175 0 0 J £1,310,175 0 0 This is the balance-sheet referred to in the certificate on attached Profit and Loss Statement marked " B."— A. Hempton, Chief Auditor.

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" B."— Profit and Loss. £ s. d. £ s. d. £ s. d. Dividend on 0 long-term mortgage shares .. .. .. 7.031 5 0 Balance at 31st March, 1930 .. .. .. .. .. .. 1,199.849 7 5 Dividend on D long-term mortgage shares .. .. .. 17,578 2 6 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 Beserve Fund .. .. .. 125,000 0 0 576,692 14 2 Balance carried down .. .. .. .. .. .. .. 623,156 13 3 £1,199,849 7 5 £1,199,849 7 5 £ s. d. £ s. d. Twelve months' interest on guaranteed stock .. .. .. .. 21,199 9 2 Balance brought down .. .. .. .. .. .. •■ 623,156 13 3 Dividend paid 6th December, 1930— £ s. d. Profits for year ended 31st March, 1931, inOn preference A shares .. .. .. .. 50,000 0 0 eluding recoveries, and after payment of On C long-term mortgage shares .. .. .. 7,031 5 0 and provision for all interest due and On D long-term mortgage shares .. .. .. 17,578 2 6 accrued on deposits, provision for bad and On preference B shares .. .. .. .. 41,666 13 4 doubtful debts and other contingencies, for On ordinary shares .. .. .. .. .. 250,000 0 0 the annual donation to the Provident Fund, £ s. d. 366,276 0 10 I also for bonus to staff .. .. 2,009.412 1 2 Balance, being profit for the year.. .. .. .. 845,813 14 10 2,009,412 1 2 To which has to be added— Less— Amount brought forward from last year ~ .. 623,156 13 3 Salaries and allowances at Head Office and 237 branches and agencies .. .. 508,988 17 10 1,468,970 8 1 Directors'remuneration, including London Less dividend paid, as above .. ~ .. .. 366, 276 0 10 Board and local directors in Australia .. 9,800 0 0 1,102,694 7 3 General expenses, including rent, stationery, telegrams, postages, travelling, repairs to premises, &e. .. .. .. 174,668 4 2 Audit Expenses Account .. .. 3,057 5 10 Rates and taxes .. .. .. 445,884 9 4 — 1,142,398 17 2 867,013 4 0 £1,490,169 17 3 £1,490,169 17 3

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" B."— continued — Reserve Fund. £ s. d. £ s. d. Balance .. .. .. .. .. .. .. .. 3,575,000 0 0 Balance per last statement .. .. .. .. .. .. 3,550,000 0 0 Amount to be added from profits for year ended 31st March, 1931 .. .. 25,000 0 0 £3,575,000 0 0 £3,575,000 0 0 CERTIFICATES. We hereby certify that, having carefully examined the foregoing balance-sheet (marked " A") and statements, we are satisfied that they have been correctly compiled from the books and accounts of the bank, and that the balance-sheet is a full and fair balance-sheet, properly drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. Dated this 26th day of May, 1931. H. Bttckleton, General Manager. A. W. Hall, Accountant. I, Arthur Lewis Hempton, the Chief Auditor of the Bank of New Zealand, do hereby certify— 1. That, having carefully examined the foregoing balance-sheet (marked " A ") and statements, I am satisfied that they have been correctly compiled from the books and accounts of the bank. 2. That I am also satisfied that the said balance-sheet is a full and fair balance-sheet, properly drawn up, and exhibits a true and correct view of the state of the bank's affairs at the date thereof. 3. That I have verified so much of the cash, investments, securities, and assets of the bank as 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 Ist day of June, 1931. A. Hbmpton, Chief Auditor.

By Authority : W. A. G. Skinnek, Government Printer, Wellington.— 1931.

Approximate Cost of Paper. — Preparation, not given ; printing (435 copies), £4 10s.

Price 3d.]

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