JUNE 21]

THE NEW ZEALAND GAZETTE

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, 6TH JUNE, 1951

Liabilities
£
s. d.
2. General Reserve Fund
1,500,000 0 0
3. Bank-notes
58,865,889 10 0
4. Demand liabilities-
(a) State
8,897,959 17 9
(b) Banks
76,561,075 15 4
(c) Other
2,425,096 19 8
5. Time deposits
6. Liabilities in currencies other than New Zealand currency
12,528 2 10
7. Other liabilities
5,754,475 17 7
£(N.Z.)154,017,026 3 2

Assets
£
s. d.
8. Reserve-
(a) Gold
5,079,907 6 2
(b) Sterling exchange*
74,820,603 15 9
(c) Gold exchange
(d) Other exchange
324,441 0 5
9. Subsidiary coin
484,682 2 10
10. Discounts-
(a) Commercial and agricultural bills
688,357 17 7
(b) Treasury and local-body bills
11. Advances-
(a) To the State or State undertakings-
(1) Marketing organizations
4,394,166 12 0
(2) For other purposes
50,000,000 0 0
(b) To other public authorities
(c) Other
6,018,613 16 10
12. Investments
7,974,228 3 7
13. Bank buildings
14. Other assets
4,232,025 8 0
£(N.Z.)154,017,026 3 2

• Expressed in New Zealand currency.

W. R. EGGERS, Chief Accountant.

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 1951

Dr.
General charges, including salaries, rent, cost of note issue, and other expenses
391,610 10 9
Balance, being profit for year
823,733 13 5
£1,215,344 4 2
Cr.
Balance of profit after making provision for rebate on Treasury bills not yet due, and for sundry liabilities and contingencies
1,215,344 4 2
£1,215,344 4 2

PROFIT AND LOSS APPROPRIATION ACCOUNT

Dr.
Payment to New Zealand Government in terms of section 36 of Reserve Bank of New Zealand Act, 1933
774,832 17 9
Balance
823,733 13 5
£1,598,566 11 2
Cr.
Balance as at 1st April, 1950
774,832 17 9
Balance from Profit and Loss Account
823,733 13 5
£1,598,566 11 2

BALANCE-SHEET AS AT 31ST MARCH, 1951

Liabilities
£
s. d.
General Reserve Fund
1,500,000 0 0
Bank notes
58,160,768 0 0
Demand liabilities-
(a) State
40,062,159 7 5
(b) Banks
48,125,201 11 6
(c) Other
8,035,323 0 1
Liabilities in currencies other than New Zealand currency
9,391 8 6
Other accounts
4,767,239 12 8
Profit and Loss Appropriation Account
823,733 13 5
£161,483,816 13 7

Assets
£
s. d.
Gold (at cost)
4,962,625 3 0
Sterling exchange
60,881,948 10 4
Other exchange
334,289 4 1
Subsidiary coin
320,129 4 4
Discounts-
Commercial and Agricultural Bills
982,545 18 11
Advances to the State or State undertakings-
(1) Marketing organizations
7,474,268 7 5
(2) For other purposes
50,000,000 0 0
Other
5,946,845 18 2
Investments
25,974,228 3 7
Other assets
4,606,936 3 9
N.B.-Holdings of sterling have been converted into New Zealand currency at the rate of £100 sterling equals £100(N.Z.).
£161,483,816 13 7

E. C. FUSSELL, Governor.
A. ROSS, Deputy Governor.
W. R. EGGERS, Chief Accountant.

AUDITORS' CERTIFICATE AND REPORT

We have audited the balance-sheet as at 31st March, 1951, 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, 1951, 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
F. H. HARRIS
Public Accountants, Auditors.

Wellington, New Zealand, 14th June, 1951.