24 JUNE] THE NEW ZEALAND GAZETTE 1055

Assets
£ s. d. £ s. d.
Current assets :
Cash in hand and at bankers 189,755 9 4
Post Office Savings Bank 5,000 0 0
National Bank of New Zealand Ltd. fixed deposits .. 405,000 0 0
599,755 9 4
Interest due and accrued on investments .. .. 38,975 4 8
Investments :
New Zealand Government stock, ordinary holdings.. 2,751,505 0 0
New Zealand Government stock, National Development Loan .. 175,000 0 0
Local-body debentures 1,157,929 7 4
Mortgages 1,239,928 5 0
5,324,362 12 4
National Savings securities (New Zealand Government stock) .. .. 453,000 0 0
6,416,093 6 4
Fixed assets at cost, less depreciation: Buildings, £5,127 8s. 6d.; additions, £22,296 15s.; less depreciation, £345 18s. 6d. .. 27,078 5 0
Book-keeping and adding machines, £6,410; less depreciation, £641 .. 5,769 0 0
Office machines, £647 13s.; less depreciation, £44 13s. .. 603 0 0
Office furniture, £4,137 1s. 8d.; less depreciation, £265 10s. 1d. .. 3,871 11 7
Property Account 5,841 0 0
Home safes on hand 143 15 3
Total fixed assets 43,306 11 10
£6,459,399 18 2

W. M. C. DENHAM, President.
J. T. SHAW, General Manager.

We, the undersigned, being the auditors of the Invercargill Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report: (1) That we have examined the books, accounts and vouchers of the Bank and have received all the information and explanations we have required; (2) That we have verified the cash, investments, securities, and assets of the Bank as at 31 March 1954; (3) The General 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 the affairs of the Invercargill Savings Bank according to the best of our information and the explanations given to us and as shown by the books of the Bank.

Invercargill, 5 May 1954.

D. M. MALLOCH AND CO., Auditors.

252

AUCKLAND SAVINGS BANK

STATEMENT of the cash receipts and payments of the Auckland Savings Bank for the twelve months ended 31 March 1954.

RECEIPTS
£ s. d.
Balance as at 1 April 1953 (cash in hand and at Bank of New Zealand) .. .. .. 1,751,299 6 7
Savings Bank deposits 13,702,304 18 7
National Savings deposits 613,640 1 3
Interest on Bank of New Zealand Current Accounts .. .. .. 20,487 16 6
Interest on New Zealand Government inscribed stock .. .. .. 527,649 11 4
Interest on local-body debentures .. .. .. 66,084 17 8
Interest on mortgages 256,942 17 5
Interest on National Savings bonds investments .. .. 257 6 3
Interest on National Savings securities .. .. 123,891 15 5
New Zealand Government inscribed stock principal .. .. .. 1,749,682 1 0
Local-body debenture repayments 133,416 8 4
Mortgage principal repayments 705,507 18 10
National Savings bonds 2,160 0 0
National Savings bonds principal repaid .. .. 2,426 4 7
Charges (refunds) 300 1 4
Rent 3,873 7 2
Mortgage securities inspection fees .. .. 3,129 0 0
Mortgagor’s suspense account 6,425 10 6
Mortgage sundries 829 2 11
Safe-custody fees 302 13 3
Exchange and commissions 4,165 5 8
Furniture and fittings (sales) 13 6 0
Bad debts recovered 565 10 0
Home safes 611 11 0
£19,675,966 11 7

PAYMENTS
£ s. d.
Savings Bank withdrawals .. .. .. 12,880,380 1 5
National Savings repayments .. .. 632,890 2 10
Provident Fund .. .. .. 2,274 14 5
Local-body investments .. .. 1,565,432 15 9
New Zealand Government inscribed stock advances .. .. 570,915 17 0
National Savings securities .. .. 160,000 0 0
National Savings bonds .. .. 2,160 0 0
Mortgage advances .. .. 1,770,265 10 0
Charges .. .. .. 136,966 12 3
Commissions .. .. 344 7 0
Local-body debenture interest refunded .. .. 2,770 15 1
Furniture and fittings .. .. 5,958 4 0
Office calculating and book-keeping machines .. .. 2,139 12 0
Buildings and property .. .. 14,314 15 11
Buildings alterations .. .. 15,237 17 8
Rent .. .. .. 740 0 0
Donations .. .. 18,900 0 0
Mortgage sundries .. .. 731 1 11
Mortgagors’ Suspense Account .. .. 4,042 2 0
Earthquake and war damage insurance .. .. 178 0 0
Mortgage securities inspections .. .. 1,760 7 6
Income and social security taxes .. .. 57,519 8 11
Home safes .. .. 1,791 2 7
Motor-car .. .. 794 19 2
Balance, current account, Bank of New Zealand .. 1,685,468 15 1
Balance, cash in hand .. 141,989 9 1
1,827,458 4 2
£19,675,966 11 7

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1954

Dr.
£ s. d. £ s. d.
Interest on depositors’ closed accounts .. .. 10,993 12 11
Interest on depositors’ open accounts .. .. 563,407 13 10
574,401 6 9
Interest on Provident Fund .. .. 8,507 8 10
Charges :
Ordinary .. .. 142,036 3 8
Provident Fund .. .. 8,333 12 0
150,369 15 8
Loss on home safes .. .. 855 16 2
Depreciation on buildings .. .. 6,561 11 9
Depreciation on furniture and fittings .. .. 5,035 12 8
Depreciation on office calculating and book-keeping machines .. .. 5,139 12 0
Depreciation on home safes .. .. 2 7 9
Depreciation on motor-cars .. .. 334 19 2
17,074 3 4
Provision for taxation .. .. 61,442 2 2
Net profit .. .. 74,636 4 11
£887,286 17 10

Cr.
£ s. d. £ s. d.
Interest on Bank of New Zealand current account .. .. 20,487 16 6
Interest on New Zealand Government inscribed stock .. .. 522,773 8 4
Interest on National Savings bonds .. .. 1,380 17 7
Interest on local-body debentures .. .. 72,059 8 6
Interest on mortgages .. .. 262,377 3 11
Interest on investments .. .. 879,078 14 10
Interest on advance payment of income tax .. .. 506 5 0
Rent .. .. .. 3,133 7 2
Safe-custody fees .. .. 302 13 3
Exchange and commissions .. .. 3,933 8 8
Bad debts recovered (net) .. .. 332 8 11
£887,286 17 10

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1954

Dr.
£ s. d.
Provision for donations .. .. 20,000 0 0
Balance to Reserve Fund .. .. 54,636 4 11
£74,636 4 11

Cr.
£ s. d.
Net profit .. .. 74,636 4 11
£74,636 4 11