JULY 3.] THE NEW ZEALAND GAZETTE. 2079

RESERVE BANK OF NEW ZEALAND.

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31ST MARCH, 1941.

£ s. d. £ s. d.
To General charges, including salaries, rent, By Balance of profit after making provision
cost of note issue, and other expenses 139,181 18 1 for rebate on Treasury Bills not yet due,
Balance, being profit for year .. 351,906 10 0 and for sundry liabilities and contin-
gencies .. .. .. .. .. .. 491,088 8 1
£491,088 8 1 £491,088 8 1

PROFIT AND LOSS APPROPRIATION ACCOUNT.

£ s. d. £ s. d.
To Payment to New Zealand Government in By Balance at 1st April, 1940 .. .. 361,363 6 10
terms of section 36 of Reserve Bank
of New Zealand Act, 1933 .. 361,363 6 10 Balance from Profit and Loss Account .. 351,906 10 0
Balance .. .. .. .. .. .. .. .. .. 351,906 10 0
£713,269 16 10 £713,269 16 10

BALANCE-SHEET AS AT 31ST MARCH, 1941.

Liabilities. Assets.
£ s. d. £ s. d.
General Reserve Fund .. .. .. .. 1,500,000 0 0 Gold (at face value) .. .. .. 2,801,873 10 0
Bank-notes .. .. .. .. .. .. 21,440,822 10 0 Sterling exchange .. .. .. .. 17,536,569 9 9
Demand liabilities— Subsidiary coin .. .. .. .. .. 82,335 17 7
(a) State .. .. .. .. .. .. 6,269,551 0 5 Advances—
(b) Banks .. .. .. .. .. .. 12,845,770 5 11 To the State or State undertakings—
(c) Other .. .. .. .. .. .. 931,872 9 8 (1) Marketing Department .. .. 2,926,463 0 6
Liabilities in Currencies other than New (2) For other Purposes .. .. .. 15,500,000 0 0
Zealand Currency .. .. .. .. .. 7,260 1 2 Investments .. .. .. .. .. .. 3,772,322 4 0
Other accounts .. .. .. .. .. .. 820,894 5 9 Other assets .. .. .. .. .. .. 1,546,515 1 1
Profit and Loss Appropriation Account .. 351,906 10 0
N.B.—Holdings of sterling have been
converted into New Zealand currency
at the rate of £100 sterling equals £124
New Zealand.
£44,166,077 2 11 £44,166,077 2 11

W. F. L. WARD, Acting Governor.
E. C. FUSSELL, Deputy Governor.
W. R. EGGERS, Chief Accountant.

AUDITORS’ CERTIFICATE AND REPORT.

We have audited the balance-sheet as at 31st March, 1941, 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, 1941, 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,
J. L. GRIFFIN,
Public Accountants, Auditors.

Wellington, New Zealand, 20th June, 1941.

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, 30th JUNE, 1941.

Liabilities. Assets.
£ s. d. £ s. d.

1. General Reserve Fund .. .. .. 1,500,000 0 0 7. Reserve—
2. Bank-notes .. .. .. .. .. .. 21,843,087 0 0 (a) Gold .. .. .. .. .. 2,801,874 10 0
3. Demand liabilities— (b) Sterling exchange* .. .. 19,967,000 15 2
   (a) State .. .. .. .. .. .. 7,946,195 1 10 (c) Gold exchange .. .. .. ..
   (b) Banks .. .. .. .. .. .. 14,108,317 17 11 8. Subsidiary coin .. .. .. .. .. 51,448 5 5
   (c) Other .. .. .. .. .. .. 623,915 13 0 9. Discounts—
4. Time deposits .. .. .. .. .. .. (a) Commercial and agricultural
5. Liabilities in currencies other than bills .. .. .. .. .. .. ..
   New Zealand currency .. .. .. .. 12,820 3 3 (b) Treasury and local-body bills ..
6. Other liabilities .. .. .. .. .. 920,710 0 5 10. Advances—
   (a) To the State or State undertakings—
   (1) Marketing Department 5,265,615 9 1
   (2) For other purposes .. 13,500,000 0 0
   (b) To other public authorities ..
   (c) Other .. .. .. .. .. ..
7. Investments .. .. .. .. .. .. 3,772,569 9 1
8. Bank buildings .. .. .. .. .. ..
9. Other assets .. .. .. .. .. .. 1,596,537 7 8
   £(N.Z.)46,955,045 16 5 £(N.Z.)46,955,045 16 5

• Expressed in New Zealand currency.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 51·112 per cent.

W. R. EGGERS, Chief Accountant.