1270
THE NEW ZEALAND GAZETTE
[No. 70

BALANCE-SHEET AS AT 31ST MARCH, 1951

Depositors’ balances—
Savings-bank department 5,588,685 12 4
Thrift club accounts 50,661 5 3
Special purpose accounts 18,604 8 2
Ordinary depositors’ total 5,657,951 5 9
National Savings—
Depositors’ balances 1,906,985 2 2
Add National Savings
Interest Suspense
Account 36,117 19 9
1,943,103 1 11

Other credit balances—
Staff Provident Funds 20,604 3 0
Post-office Imprest Account 1,250 0 0
Provision for taxation 23,900 13 4
Provision for grants 5,000 0 0
50,754 16 4
Reserve Fund .. .. 333,547 2 2
£7,985,356 6 2

Current assets—
Cash in hand and at bankers 229,527 6 6
Fixed deposits 130,000 0 0
359,527 6 6

Interest due and accrued
on investments, &c. 42,426 4 10
Rents accrued 168 7 4
Total current assets 402,121 18 8
Investments—
New Zealand Government
inscribed stock 2,587,854 17 10
National Savings bonds 20,700 0 0
Local-body debentures 659,367 10 1
First mortgages on freehold
property 2,332,458 17 8
Total of investments 5,600,381 5 7
Total of current assets
and investments 6,002,503 4 3
National Savings securities 1,906,985 2 2
Cash in hand and at bankers 36,117 19 9
Total securing National
Savings depositors 1,943,103 1 11
Total of current assets,
investments, and
securities 7,945,606 6 2
Fixed assets at cost, less de-
preciation—
Land and buildings 33,500 0 0
Office furniture 5,000 0 0
38,500 0 0
National Savings bonds on
imprest .. .. 1,250 0 0
£7,985,356 6 2

D. C. CAMERON, President.
W. G. HILLIKER, Manager.

We, the undersigned, Jas. Brown and Co. and J. S. McInnes and
Sons, being the auditors of the Dunedin Savings-bank, appointed
in terms of section 29 (3) of the Trustee Savings-banks Act, 1948,
report: (1) We have examined the books, accounts, and vouchers
of the bank, and have received all the information and explanations
we have required; (2) We have verified the cash, investments,
securities, and assets of the bank as at 31st March, 1951; (3) the
Manager has certified that, to the best of his knowledge and belief,
all requirements of the Trustee Savings-banks Act, 1948, and
regulations thereunder, have been complied with.
In our opinion, the above balance-sheet is drawn up so as to
exhibit a true and correct view of the state of affairs of the Dunedin
Savings-bank according to the best of our information and the
explanations given to us, and as shown by the books of the bank.

JAMES BROWN AND CO.
J. S. McINNES AND SONS

Dunedin, 17th April, 1951.

INVERCARGILL SAVINGS-BANK

STATEMENT of receipts and payments for the year ended
31st March, 1951:—

RECEIPTS

Cash in hand and at banks, 31st March, 1950 .. 443,436 1 4
Amount lodged by depositors .. 4,985,971 7 3
Interest received on mortgages .. 26,291 6 4
Interest received on fixed deposits .. 4,000 0 1
Interest received on Government stock .. 88,123 6 0
Interest received on public-body debentures .. 12,307 9 5
Rents, fees, and commissions .. 1,687 3 5
Bad debts recovered .. 100 0 0
Mortgages repaid during year .. 61,106 7 1
National Savings Bonds matured .. 68,250 0 0
Public-body debentures matured .. 40,085 5 0
Mortgage inspection fees .. 517 3 6
Interest on National Savings investments .. 9,092 7 11
£5,740,967 17 4

PAYMENTS

Invested in first mortgages during year .. 183,407 13 1
Repaid depositors .. 4,310,001 18 7
Purchase of stock and debentures .. 700,730 16 6
Charges and management expenses .. 19,844 11 4
Income and social security taxes .. 12,998 14 4
Donations .. 2,085 0 0
Furniture and office equipment .. 7,377 8 0
Mortgage inspection fees .. 313 18 11
Cash in hand and at banks .. 504,207 16 7
£5,740,967 17 4

PROFIT AND LOSS ACCOUNT

Dr.
Interest paid to depositors .. 98,137 5 1
Charges and management expenses .. 19,844 11 4
Depreciation on buildings .. 1,165 0 0
Depreciation on furniture and office equipment.. 1,101 8 0
Provision for taxation .. 13,550 0 0
Balance to Appropriation Account .. 8,711 7 3
£142,509 11 8

Cr.
Interest on fixed deposits .. 4,000 0 1
Interest on Government stocks .. 90,368 5 8
Interest on local-body debentures .. 13,494 8 7
Rents, fees and commissions .. 1,687 3 5
Interest on mortgages .. 32,817 3 11
Bad debts recovered .. 100 0 0
Interest on deposit Post Office Savings-bank .. 42 10 0
£142,509 11 8

PROFIT AND LOSS APPROPRIATION ACCOUNT

Balance to Reserve Fund .. £8,711 7 3
£8,711 7 3

Net Profit from Profit and Loss Account .. £8,711 7 3
£8,711 7 3

BALANCE-SHEET AS AT 31ST MARCH, 1951

Depositors’ Balances—
Savings-bank Department 4,887,984 7 2
Thrift clubs 4,082 1 4
4,892,066 8 6

National Savings depositors 391,092 10 3
Add accrued interest 7,472 14 5
398,565 4 8

Other liabilities—
Provision for taxation 13,550 0 0
Mortgage interest rebates
accrued 682 7 10
Total of current liabilities 14,232 7 10

Total liabilities and pro-
visions 5,304,864 1 0
Reserve Fund 106,010 7 11
£5,410,874 8 11

Current assets—
Cash in hand and at bankers 504,207 16 7
Interest due and accrued on
investments, mort-
gages, rents, &c. 27,379 1 5
Total current assets 531,586 18 0

Investments—
New Zealand Government
stock, ordinary holdings 2,972,845 0 0
New Zealand Government
National Savings 385,880 0 0
National Savings Account 18,337 0 0
Public-body debentures 627,444 16 0
First mortgages of freehold
property 856,774 14 11
Total of investments 4,861,281 10 11
Total of current assets
and investments 5,392,868 8 11

Fixed assets, less depreciation—
Bank premises 11,335 0 0
Less depreciation 1,165 0 0
10,170 0 0

Furniture and office equip-
ment 8,937 8 0
Less depreciation 1,101 8 0
7,836 0 0
Total fixed assets 18,006 0 0
£5,410,874 8 11

ADAM HAMILTON, President.
H. R. WILLCOX, Manager.