JULY 6.] THE NEW ZEALAND GAZETTE. 1957

RESERVE BANK OF NEW ZEALAND.

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31ST MARCH, 1939.

To General charges, including salaries, rent,
cost of note issue, and other expenses £ s. d. | By Balance of profit after making provision
Balance, being profit for year .. 108,902 7 6 | for rebate on Treasury Bills not yet due,
250,285 10 4 | and for sundry liabilities and contin-
———————— | gencies £ s. d.
£359,187 17 10 | 359,187 17 10
———————— | ————————
£359,187 17 10 | £359,187 17 10
———————— | ————————

PROFIT AND LOSS APPROPRIATION ACCOUNT.

To Payment to New Zealand Government in £ s. d. | By Balance at 1st April, 1938 £ s. d.
terms of section 36 of Reserve Bank | 195,811 3 7
of New Zealand Act, 1933 .. 195,811 3 7 | Balance from Profit and Loss Account 250,285 10 4
Balance .. 250,285 10 4 |
———————— | ————————
£446,096 13 11 | £446,096 13 11
———————— | ————————

BALANCE-SHEET AS AT 31ST MARCH, 1939.

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 15,246,970 10 0 | Sterling exchange 4,663,051 6 7
Demand liabilities— | Subsidiary coin 226,271 6 1
(a) State 4,386,770 2 5 | Advancements—
(b) Banks 8,350,113 9 3 | (a) To the State or State undertakings—
(c) Other 902,256 19 11 | (1) Primary Products Marketing
Liabilities in Currencies other than New | Department 7,235,461 15 2
Zealand Currency 26,220 12 4 | (2) For other Purposes 12,225,000 0 0
Other accounts 304,583 17 7 | Investments 3,689,904 19 2
Profit and Loss Appropriation Account 250,285 10 4 | Other assets 125,720 14 10
———————— | ————————
£30,967,201 1 10 | £30,967,201 1 10
———————— | ————————

N.B.—Holdings of sterling have been converted into New Zealand currency
at the rate of £100 sterling equals £124 New Zealand.

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

AUDITORS’ CERTIFICATE AND REPORT.

We have audited the balance-sheet as at 31st March, 1939, 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, 1939, 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, 1939.

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 3RD JULY, 1939.

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

1. General Reserve Fund 1,500,000 0 0 | 7. Reserve—
2. Bank-notes 15,584,712 0 0 | (a) Gold 2,801,839 0 0
3. Demand liabilities— | (b) Sterling exchange* 5,690,003 13 6
   (a) State 1,634,742 18 4 | (c) Gold exchange
   (b) Banks 9,324,002 5 9 | 8. Subsidiary coin 224,291 13 3
   (c) Other 372,251 6 10 | 9. Discounts—
4. Time deposits | (a) Commercial and agricultural
5. Liabilities in currencies other than | bills
   New Zealand currency 59,528 14 10 | (b) Treasury and local-body bills
6. Other liabilities 381,750 12 8 | 10. Advancements—
   ———————— | (a) To the State or State undertakings—
   £(N.Z.)28,856,987 18 5 | (1) Primary Products Mar-
   ———————— | keting Department 5,659,544 5 2
   | (2) For other purposes 10,475,000 0 0
   | (b) To other public authorities
   | (c) Other
   | 11. Investments 3,780,491 0 5
   | 12. Bank buildings
   | 13. Other assets 225,818 4 1
   | ————————
   | £(N.Z.)28,856,987 18 5
   | ————————

• Expressed in New Zealand currency.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities 31·329 per cent.

W. R. EGGERS, Deputy Chief Accountant.