1108

THE NEW ZEALAND GAZETTE
[No. 39

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1953
Dr £ s. d.
General charges, including salaries, rent,
cost of note issue, and other expenses ..... 512,818 0 7
Balance being profit for year ..... 1,277,267 15 4
£1,790,085 15 11
Cr £ s. d.
Balance of profit after making provision
for rebate on Treasury bills not yet
due and for sundry liabilities and
contingencies ..... 1,790,085 15 11
£1,790,085 15 11

PROFIT AND LOSS APPROPRIATION ACCOUNT
Dr £ s. d.
Payment to New Zealand Government in
terms of section 36 of Reserve Bank of
New Zealand Act 1933 ..... 1,001,800 0 8
Balance ..... 1,277,267 15 4
£2,279,067 16 0
Cr £ s. d.
Balance as at 1 April 1952 ..... 1,001,800 0 8
Balance from Profit and Loss Account ..... 1,277,267 15 4
£2,279,067 16 0

BALANCE-SHEET AS AT 31 MARCH 1953
Liabilities £ s. d.
General Reserve Fund ..... 1,500,000 0 0
Bank notes ..... 62,786,260 10 0
Demand Liabilities—
(a) State ..... 11,591,813 17 5
(b) Banks ..... 70,366,463 0 1
(c) Other ..... 1,103,275 19 7
Liabilities in currencies other than New
Zealand currency ..... 89,066 7 1
Other accounts ..... 5,616,683 0 7
Profit and Loss Appropriation Account ..... 1,277,267 15 4
£154,330,830 10 1
Assets £ s. d.
Gold (at cost) ..... 6,015,658 10 1
Sterling exchange ..... 50,979,638 5 7
Other exchange ..... 373,957 8 6
Subsidiary coin ..... 622,886 1 4
Advances—
To State or State undertakings—
(a) Marketing organizations ..... 7,352,255 13 3
(b) For other purposes ..... 50,032,377 6 1
Other ..... 6,018,613 13 8
Investments ..... 31,881,885 13 1
Other assets ..... 1,053,557 18 6
N.B.—Holdings of sterling have been
converted into New Zealand currency at
the rate of £100 sterling equals
£100 (N.Z.)
£154,330,830 10 1

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 31 March 1953, above set forth, and we have obtained all the information
and explanations we have required.
We have accepted the certificate of the Bank of England as to the 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
affairs of the Bank as at 31 March 1953, 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. CROMBLE, }Public Accountants, Auditors.
F. H. HARRIS,
Wellington, New Zealand, 3 June 1953.

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, 1 JULY 1953
Liabilities £ s. d.
2. General Reserve Fund ..... 1,500,000 0 0
3. Bank notes ..... 62,330,909 0 0
4. Demand liabilities—
(a) State ..... 6,026,470 4 9
(b) Banks ..... 103,154,816 18 0
(c) Other ..... 3,902,630 0 7
5. Time deposits
6. Liabilities in currencies other than New
Zealand currency ..... 93,984 5 1
7. Other liabilities ..... 6,050,374 3 9
£ (N.Z.) 183,059,184 12 2
Assets £ s. d.
8. Reserve—
(a) Gold ..... 6,020,945 0 3
(b) Sterling exchange* ..... 64,896,325 10 1
(c) Gold exchange
(d) Other exchange ..... 517,458 19 10
9. Subsidiary coin ..... 628,554 1 7
10. Discounts—
(a) Commercial and agricultural
bills
(b) Treasury and local-body bills
11. Advances—
(a) To the State or State under-
takings—
(1) Marketing organizations 13,652,390 1 5
(2) For other purposes ..... 52,901,139 5 0
(b) To other public authorities
(c) Other ..... 6,043,610 5 6
12. Investments† ..... 37,007,256 17 8
13. Bank buildings
14. Other assets ..... 1,391,504 10 10
£ (N.Z.) 183,059,184 12 2

• Expressed in New Zealand currency.
  † Included in this item are sterling investments of £ (N.Z.)23,840,079 12s. 4d.
  W. R. EGGERS, Chief Accountant.