832
THE NEW ZEALAND GAZETTE
[No. 37

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 1947

Dr.
General charges, including salaries, rent, cost of
note issue, and other expenses .. .. 272,547 9 4
Balance, being profit for year .. .. 581,784 2 1
£854,331 11 5

Cr.
Balance of profit after making provision for rebate
on Treasury bills not yet due, and for sundry
liabilities and contingencies .. .. 854,331 11 5
£854,331 11 5

PROFIT AND LOSS APPROPRIATION ACCOUNT

Dr.
Payments to New Zealand Government in terms of
section 36 of Reserve Bank of New Zealand
Act, 1933 .. .. .. 540,919 18 9
Balance .. .. .. 581,784 2 1
£1,122,704 0 10

Cr.
Balance as at 1st April, 1946 .. 540,919 18 9
Balance from Profit and Loss Account .. 581,784 2 1
£1,122,704 0 10

BALANCE-SHEET AS AT 31ST MARCH, 1947

Liabilities
General Reserve Fund .. .. 1,500,000 0 0
Bank notes .. .. 46,878,128 0 0
Demand liabilities—
(a) State .. .. 22,835,144 18 3
(b) Banks .. .. 54,540,503 15 7
(c) Other .. .. 511,667 12 0
Liabilities in currencies other than New Zealand
currency .. .. 26,455 15 8
Other accounts .. .. 3,047,401 17 4
Profit and Loss Appropriation Account .. 581,784 2 1
£129,921,086 0 11

Assets
Gold (at face value) .. .. 2,801,877 10 0
Sterling exchange .. .. 85,847,760 9 10
Subsidiary coin .. .. 49,263 15 8
Advances to the State or State undertakings—
(1) Marketing organizations .. .. 36,000,000 0 0
(2) For other purposes .. .. 3,868,093 2 11
Investments .. .. 1,354,091 2 6
Other assets .. ..
N.B.—Holdings of sterling have been converted
into New Zealand currency at the rate of
£100 sterling equals £124(N.Z.).
£129,921,086 0 11

W. F. L. WARD, 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, 1947, above set forth and have obtained all the information and explanation 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, 1947, according to the best of our information and the explanations given to us and as shown by the books of the Bank.

D. A. F. CROMBIE
D. G. JOHNSTON
} Public Accountants, Auditors.

Wellington, New Zealand, 29th May, 1947.

RESERVE BANK OF NEW ZEALAND

STATEMENT OF ASSETS AND LIABILITIES OF THE RESERVE BANK OF NEW ZEALAND AS AT THE CLOSE OF BUSINESS ON WEDNESDAY, 25TH JUNE, 1947

Liabilities

1. General Reserve Fund .. .. 1,500,000 0 0
2. Bank-notes .. .. 46,984,006 0 0
3. Demand liabilities—
   (a) State .. .. 9,710,488 8 10
   (b) Banks .. .. 62,528,167 8 2
   (c) Other .. .. 356,440 15 10
4. Time deposits .. .. ..
5. Liabilities in currencies other than New
   Zealand currency .. .. 1,288,888 2 5
6. Other liabilities .. .. 3,221,386 16 3
   £(N.Z.)125,589,377 11 6

Assets
7. Reserve—
(a) Gold .. .. 2,801,877 10 0
(b) Sterling exchange* .. 93,932,588 15 4
(c) Gold exchange .. ..
8. Subsidiary coin .. .. 47,490 14 5
9. Discounts—
(a) Commercial and agricultural bills .. ..
(b) Treasury and local-body bills .. ..
10. Advances—
(a) To the State or State undertakings—
(1) Marketing organizations .. 602,589 11 2
(2) For other purposes .. 23,577,676 19 10
(b) To other public authorities .. ..
(c) Other .. ..
11. Investments .. .. 3,868,093 2 11
12. Bank buildings .. .. ..
13. Other assets .. .. 759,060 17 10
£(N.Z.)125,589,377 11 6

• Expressed in New Zealand currency.
  Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 79·817 per cent.

W. R. EGGERS, Chief Accountant.