6 Aug.] THE NEW ZEALAND GAZETTE 1293

DUNEDIN SAVINGS BANK

STATEMENT of receipts and payments for year ended 31 March 1953:

RECEIPTS
£ s. d.
Balance .. .. .. .. 247,549 9 3
Lodged by depositors .. .. .. .. 2,724,739 13 7
Lodged by National Savings depositors .. .. 189,510 15 8
Loan interest .. .. .. .. .. 93,250 18 6
Debenture interest .. .. .. .. .. 101,870 8 7
Bank interest .. .. .. .. .. 3,544 1 0
National Savings interest .. .. .. 60,230 8 0
Loans repaid .. .. .. .. .. 287,304 3 8
Debentures repaid .. .. .. .. 151,481 2 4
Refunds, commissions, etc. .. .. .. 650 5 7
Rents .. .. .. .. .. .. 1,580 18 3
Fines .. .. .. .. .. .. 8 4 0
Staff provident fund .. .. .. .. 780 0 6
National Savings bonds on imprest .. .. 500 0 0
Received on behalf of other trustee banks .. 23,036 0 8
£3,886,036 9 7

PAYMENTS
£ s. d.
Withdrawn by depositors .. .. .. 2,911,875 10 6
Withdrawn by National Savings depositors .. 445,445 1 2
Charges .. .. .. .. .. .. 29,490 10 9
Income and social security taxes .. .. 20,000 0 0
Loans granted .. .. .. .. .. 189,396 2 9
Debentures purchased .. .. .. .. 28,000 0 0
National Savings bonds on imprest .. .. 500 0 0
Grants .. .. .. .. .. .. 5,300 0 0
Loan interest .. .. .. .. .. 80 16 7
Debenture interest .. .. .. .. 951 14 4
Office furniture, etc. .. .. .. 1,336 13 7
Land and buildings .. .. .. .. 6,180 3 9
Fixed deposit .. .. .. .. .. 70,000 0 0
Staff provident fund .. .. .. .. 136 0 6
Paid on behalf of other trustee banks .. 21,620 2 6
Balance .. .. .. .. .. .. 155,723 13 2
£3,886,036 9 7

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1953
Dr.
Interest credited to depositors' £ s. d. £ s. d.
open accounts .. .. .. .. 130,762 8 10
Interest credited to depositors' closed accounts .. .. 6,291 4 6
.. .. 137,053 13 4
Interest on staff provident funds .. .. .. 856 8 11
Charges and administration expenses .. .. .. 31,717 18 1
Depreciation :
Buildings .. .. .. .. 1,248 19 6
Office furniture, etc. .. .. .. 1,114 13 7
.. .. 2,363 13 1
Provision for taxation .. .. .. 18,522 14 0
Less overprovided, 1952 .. .. .. 792 9 2
Profit and Loss Appropriation account, net profit .. .. 17,730 4 10
.. .. 16,855 16 0
£206,577 14 3
Cr.
Investment interest .. .. .. 204,305 16 5
Fines .. .. .. .. .. 8 4 0
Rents .. .. .. .. .. 1,613 8 3
Commission, refunds, etc. .. .. 650 5 7
£206,577 14 3

PROFIT AND LOSS APPROPRIATION ACCOUNT, 31 MARCH 1953
Dr.
Provision for grants .. .. .. 5,000 0 0
Reserve fund .. .. .. .. 11,855 16 0
£16,855 16 0
Cr.
Profit and Loss account .. .. .. 16,855 16 0
£16,855 16 0

RESERVE FUND AS AT 31 MARCH 1953
Dr.
Grant (additional) .. .. .. 300 0 0
Balance .. .. .. .. 357,878 15 5
£358,178 15 5

Cr.
Balance .. .. .. .. .. .. 345,194 5 7
Profit on realization of securities .. .. 1,128 13 10
Profit and Loss Appropriation account .. 11,855 16 0
£358,178 15 5

BALANCE SHEET AS AT 31 MARCH 1953
Depositors' balances : £ s. d. £ s. d.
Savings - bank department 5,616,734 18 10
Thrift club accounts .. .. .. 70,949 10 4
Special purpose accounts .. .. 30,688 19 2
Ordinary depositors' total 5,718,373 8 4
National Savings :
Depositors' balances .. .. 1,779,507 7 4
Add National Savings Interest Suspense account .. .. .. 34,293 4 8
1,813,800 12 0
Other credit balances :
Sundry creditors for building alterations .. 1,144 18 6
Owing to other trustee savings banks .. 1,275 0 0
Staff provident funds .. .. 25,415 1 9
Provision for taxation, £18,522 14s. 0d.; less amount paid in advance, £828 11s. 11d. .. .. 17,694 2 1
Provision for grants .. .. .. 5,000 0 0
Reserve fund .. .. .. .. 50,529 2 4
.. .. 357,878 15 5
£7,940,581 18 1
Current assets : £ s. d. £ s. d.
Cash in hand and at bankers 121,430 8 6
Fixed deposits .. .. .. 200,000 0 0
321,430 8 6
Interest due and accrued on investments, etc. .. .. 41,175 17 7
Rents accrued .. .. .. 207 8 6
Total current assets .. .. 362,813 14 7
Investments :
New Zealand Government inscribed stock .. 2,938,563 15 8
National Savings bonds .. .. 5,000 0 0
Local-body debentures .. .. 540,425 9 3
First mortgages on freehold property .. .. 2,230,036 6 7
Total of investments .. .. 5,714,025 11 6
Total of current assets and investments .. .. 6,076,839 6 1
National Savings securities 1,779,507 7 4
Cash in hand and at bankers 34,293 4 8
Total securing National Savings depositors .. .. 1,813,800 12 0
Total of current assets, investments, and securities .. .. 7,890,639 18 1
Fixed assets, at cost less depreciation :
Land and buildings .. .. 44,500 0 0
Office furniture, etc. .. .. 5,442 0 0
49,942 0 0
£7,940,581 18 1
A. STEEL, 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 31 March 1953 ; (3) The Manager has certified that to the best of his knowledge and belief all the 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,
Auditors.
Dunedin 22 April 1953.
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