JULY 8.] THE NEW ZEALAND GAZETTE. 1619

RESERVE BANK OF NEW ZEALAND.

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31ST MARCH, 1937.

To General charges, including salaries, rent,
cost of note issue, and other expenses £ s. d. | By Balance of profit after making provision
Staff Superannuation and Provident Fund 81,775 4 7 | for rebate on Treasury Bills not yet due,
Balance, being profit for year .. 10,000 0 0 | and for sundry liabilities and contin-
147,142 13 6 | gencies .. .. .. .. .. .. .. .. .. .. .. 238,917 18 1
£238,917 18 1 | £238,917 18 1
============= | =============

PROFIT AND LOSS APPROPRIATION ACCOUNT.

To Payments to Government in terms of £ s. d. | By Balance from Profit and Loss Account .. 147,142 13 6
section 11 of the Finance Act, 1934 .. 100,000 0 0 |
Balance .. .. .. .. .. .. .. .. .. .. .. .. 47,142 13 6 |
£147,142 13 6 | £147,142 13 6
============= | =============

BALANCE-SHEET AS AT 31ST MARCH, 1937.

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 .. .. .. .. .. .. .. .. .. .. .. 13,121,810 10 0 | Sterling exchange .. .. .. .. .. .. .. .. .. 19,387,749 18 2
Demand liabilities— | Subsidiary coin .. .. .. .. .. .. .. .. .. .. .. 154,975 4 6
(a) State .. .. .. .. .. .. .. .. .. .. .. 7,853,672 15 2 | Advances—
(b) Banks .. .. .. .. .. .. .. .. .. .. .. 8,870,149 10 8 | To the State or State undertakings—
(c) Other .. .. .. .. .. .. .. .. .. .. .. 907,144 16 1 | (1) Dairy Industry Account .. .. .. .. 6,225,908 8 7
Other liabilities .. .. .. .. .. .. .. .. .. 78,587 1 1 | (2) For other purposes .. .. .. .. .. .. 800,000 0 0
Profit and Loss Appropriation Account .. .. 47,142 13 6 | Investments .. .. .. .. .. .. .. .. .. .. .. 2,906,450 0 0
| Other assets .. .. .. .. .. .. .. .. .. .. .. .. 101,632 15 3
| N.B.—Holdings of sterling have been
| converted into New Zealand currency
| at the rate of £100 sterling equals £124
| N.Z.
£32,378,507 6 6 | £32,378,507 6 6
============= | =============

L. LEFEAUX, Governor.
W. F. L. WARD, Deputy Governor.
W. H. WELSH, Chief Accountant.

AUDITORS’ CERTIFICATE AND REPORT.

We have audited the balance-sheet as at 31st March, 1937, 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, 1937, according to the best of our information and the explanations given to us and as shown by the books of the bank.

D. G. JOHNSTON, \ Public Accountants, Auditors.
J. L. GRIFFIN /

Wellington, New Zealand, 24th May, 1937.

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, 5TH JULY, 1937.

Liabilities. £ s. d. | Assets. £ s. d.

1. General Reserve Fund .. .. .. .. .. .. .. 1,500,000 0 0 | 7. Reserve—
2. Bank-notes .. .. .. .. .. .. .. .. .. .. .. 12,696,153 10 0 | (a) Gold .. .. .. .. .. .. .. .. .. .. .. .. 2,801,791 0 0
3. Demand liabilities— | (b) Sterling exchange .. .. .. .. .. .. .. .. 19,746,703 18 7
   (a) State .. .. .. .. .. .. .. .. .. .. .. 5,972,845 19 10 | (c) Gold exchange .. .. .. .. .. .. .. .. .. ..
   (b) Banks .. .. .. .. .. .. .. .. .. .. .. 9,304,687 19 3 | 8. Subsidiary coin .. .. .. .. .. .. .. .. .. 115,127 13 0
   (c) Other .. .. .. .. .. .. .. .. .. .. .. 1,071,343 11 4 | 9. Discounts—
4. Time deposits .. .. .. .. .. .. .. .. .. .. .. | (a) Commercial and agricultural
5. Liabilities in currencies other than | bills .. .. .. .. .. .. .. .. .. .. .. .. ..
   New Zealand currency .. .. .. .. .. .. .. .. | (b) Treasury and local-body bills .. .. .. ..
6. Other liabilities .. .. .. .. .. .. .. .. .. 85,172 6 4 | 10. Advances—
   | (a) To the State or State undertakings—
   | (1) Dairy Industry Account .. .. .. .. 4,785,986 6 1
   | (2) For other purposes .. .. .. .. .. .. 200,000 0 0
   | (b) To other public authorities .. .. .. .. ..
   | (c) Other .. .. .. .. .. .. .. .. .. .. .. .. ..
   | 11. Investments .. .. .. .. .. .. .. .. .. .. .. 2,906,450 0 0
   | 12. Bank buildings .. .. .. .. .. .. .. .. .. .. ..
   | 13. Other assets .. .. .. .. .. .. .. .. .. .. .. 74,144 9 1
   £30,630,203 6 9 | £30,630,203 6 9
   ============= | =============

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 77·632 per cent.

W. H. WELSH, Chief Accountant.

D