MAY 16.] THE NEW ZEALAND GAZETTE. 1351

RESERVE BANK OF NEW ZEALAND.

BALANCE-SHEET AS AT 31ST MARCH, 1935.

Liabilities. £ s. d. Assets. £ s. d.
Paid-up capital .. 500,000 0 0 Gold (at face value) .. 3,001,731 0 0
General Reserve Fund .. 1,000,000 0 0 Sterling exchange .. 22,458,016 14 7
Bank-notes .. 9,382,722 0 0 Subsidiary coin .. 176,704 11 10
Demand liabilities— .. .. .. .. Investments .. 2,069,771 0 0
(a) State .. 12,223,301 5 4 Other assets .. 30,456 6 11
(b) Banks .. 4,519,047 2 7 N.B.—Holdings of sterling have been
(c) Other .. 39,610 19 3 converted into New Zealand currency
Other liabilities .. 43,144 2 6 at the rate of £100 sterling equals £124
Profit and loss .. 28,854 3 8 N.Z.
£27,736,679 13 4
£27,736,679 13 4

PROFIT AND LOSS ACCOUNT FOR PERIOD ENDED 31ST MARCH, 1935.

£ s. d. £ s. d.
To General charges, including salaries, rent, By Balance of profit after making provision
cost of note issue, and other expenses 66,063 13 7 for rebate on Treasury Bills not yet due
Staff Pension Fund 6,000 0 0 and for sundry liabilities and contin-
Balance 28,854 3 8 gencies 100,917 17 3
£100,917 17 3 £100,917 17 3

L. LEFEAUX, Governor.
W. F. L. WARD, Deputy Governor.
W. R. EGGERS, Acting Chief Accountant.

REPORT OF THE AUDITORS TO THE SHAREHOLDERS OF THE RESERVE BANK OF NEW ZEALAND.

We have audited the balance-sheet as at 31st March, 1935, 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.
Allowances to Directors for expenses as determined by the Board have been paid. Section 33 of the Reserve Bank of New Zealand Act, 1933, requires that in addition such allowances be sanctioned at a general meeting of shareholders.
Subject to the foregoing qualification, the balance-sheet is in our opinion properly drawn up so as to exhibit a true and correct view of the affairs of the bank as at 31st March, 1935, according to the best of our information and the explanations given to us and as shown by the books of the bank.

J. L. GRIFFIN,
D. G. JOHNSTON,
} Public Accountants, Auditors.

Wellington, New Zealand, 15th May, 1935.

RESERVE BANK OF NEW ZEALAND.

STATEMENT OF ASSETS AND LIABILITIES OF THE RESERVE BANK OF NEW ZEALAND AS AT THE CLOSE OF BUSINESS ON MONDAY, 13TH MAY, 1935.

Liabilities. £ s. d. Assets. £ s. d.

1. Paid-up capital .. 500,000 0 0 8. Reserve—
2. General Reserve Fund .. 1,000,000 0 0 (a) Gold .. 2,801,731 0 0
3. Bank-notes .. 9,359,102 10 0 (b) Sterling exchange .. 22,700,836 10 11
4. Demand liabilities— .. .. .. .. (c) Gold exchange .. .. .. ..
   (a) State .. 12,892,474 12 2 9. Subsidiary coin .. 163,279 0 8
   (b) Banks .. 3,951,602 9 7 10. Discounts—
   (c) Other .. 12,492 11 6 (a) Commercial and agricultural
5. Time deposits .. .. .. .. bills .. .. .. ..
6. Liabilities in currencies other than .. .. .. .. (b) Treasury and local-body bills .. .. .. ..
   N.Z. currency .. .. .. .. 11. Advances—
7. Other liabilities .. 86,497 13 1 (a) To the State or State under-
   takings .. .. .. ..
   (b) To other public authorities .. .. .. ..
   (c) Other .. .. .. ..
8. Investments .. .. .. .. 2,094,075 0 0
9. Bank buildings .. .. .. .. .. .. ..
10. Other assets .. .. .. .. 33,338 4 9
    £27,802,259 16 4 £27,802,259 16 4

Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 97·31 per cent.

W. R. EGGERS, Acting Chief Accountant.