1548

THE NEW ZEALAND GAZETTE

No. 60

THE DUNEDIN SAVINGS BANK

STATEMENT of receipts and payments for the year ended 31 March 1955.

RECEIPTS

Balance, 1 April 1954 .. .. .. £ s. d.
324,775 3 1
Lodged by depositors .. .. .. 3,319,638 13 8
Lodged by National Savings Investment Accounts 212,935 3 5
Loan interest .. .. .. 92,683 19 5
Debenture interest .. .. .. 118,114 2 9
Bank interest .. .. .. 4,250 0 0
National Savings interest .. .. .. 51,628 10 1
Loans repaid .. .. .. 330,541 18 6
Debentures repaid .. .. .. 314,625 16 6
Refunds, commission, etc. .. .. .. 1,570 17 6
Rents .. .. .. 1,552 19 0
Fines .. .. .. 11 5 0
Staff Provident Fund .. .. .. 1,048 6 8
Sales of National Savings bonds .. .. .. 3,993 0 0
Received on behalf of other trustee banks .. .. .. 44,388 2 10
Received from investors in Government stock .. .. .. 40,306 4 0
£4,862,064 2 5

PAYMENTS

Withdrawn by depositors .. .. .. £ s. d.
3,344,602 13 10
Withdrawn from National Savings Investment Accounts .. .. .. 361,636 14 4
Charges .. .. .. 38,385 0 5
Income and social security taxes .. .. .. 16,237 4 3
Loans granted .. .. .. 491,807 12 2
Debentures purchased .. .. .. 255,360 8 4
Grants .. .. .. 5,000 0 0
Loan interest .. .. .. 139 19 7
Debenture interest .. .. .. 1,037 14 1
Office furniture, etc. .. .. .. 3,857 1 2
Land and buildings .. .. .. 7,972 10 6
Staff Provident Fund .. .. .. 337 9 10
Paid on behalf of other trustee banks .. .. .. 44,354 11 9
National Savings Bonds on imprest .. .. .. 3,993 0 0
Proceeds of sales of Government stock .. .. .. 40,306 4 0
Balance, 31 March 1955 .. .. .. 247,035 18 2
£4,862,064 2 5

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1955

Dr.
Interest credited to depositors' open accounts .. .. .. £ s. d. £ s. d.
137,484 17 11
Interest credited to depositors' closed accounts .. .. .. 7,008 11 5
144,493 9 4
Interest on staff provident funds .. .. .. 1,024 17 1
Charges and administration expenses .. .. .. 39,858 9 11
Depreciation:
Buildings .. .. .. 2,518 7 0
Office furniture, etc. .. .. .. 1,431 11 6
3,969 18 6
Provision for taxation .. .. .. 16,334 0 0
Profit and Loss Appropriation Account: Net Profit .. .. .. 16,045 0 5
£220,725 15 3

Cr.
Investment interest .. .. .. £ s. d.
217,444 3 9
Fines .. .. .. 11 5 0
Rents .. .. .. 1,699 9 0
Commission, refunds, etc. .. .. .. 1,570 17 6
£220,725 15 3

PROFIT AND LOSS APPROPRIATION ACCOUNT, 31 MARCH 1955

Dr.
Provision for grants .. .. .. £ s. d.
5,000 0 0
Reserve Fund .. .. .. 11,045 0 5
£16,045 0 5

Cr.
Profit and Loss Account .. .. .. £ s. d.
16,045 0 5
£16,045 0 5

RESERVE FUND ACCOUNT AS AT 31 MARCH 1955

Dr.
Provision for taxation: Short provided for year ended 31 March 1954 .. .. .. £ s. d.
249 7 5
Balance, 31 March 1955 .. .. .. 389,783 1 2
£390,032 8 7

Cr.
Balance, 1 April 1954 .. .. .. £ s. d.
375,933 2 7
Profit on purchase and realization of securities .. .. .. 3,054 5 7
Profit and Loss Appropriation Account .. .. .. 11,045 0 5
£390,032 8 7

BALANCE SHEET AS AT 31 MARCH 1955

Depositors' balances: £ s. d. £ s. d.
Savings Bank department .. .. .. 5,951,828 18 10
Thrift Club accounts .. .. .. 115,547 12 9
Special purpose accounts .. .. .. 72,212 1 4
Ordinary depositors' total .. .. .. 6,139,588 12 11
National Savings:
Depositors' balances .. .. .. 1,589,324 5 1
Add National Savings Interest Suspense Account .. .. .. 30,051 2 3
1,619,375 7 4
Other credit balances:
Sundry creditors .. .. .. 8,483 15 8
Owing to other trustee savings banks .. .. .. 17 0 6
Staff provident funds .. .. .. 31,096 15 0
Provision for taxation .. .. .. 15,334 0 0
Provision for grants .. .. .. 5,000 0 0
59,931 11 2
Reserve Fund .. .. .. 389,783 1 2
£8,208,678 12 7

Current assets: £ s. d. £ s. d.
Cash in hand and at bankers .. .. .. 216,984 15 11
Fixed deposits .. .. .. 200,000 0 0
416,984 15 11
Interest due and accrued on investments, etc. .. .. .. 44,322 12 2
Rents accrued .. .. .. 373 3 7
Total current assets .. .. .. 461,680 11 8
Investments:
New Zealand Government inscribed stock .. .. .. 3,158,415 14 11
National Savings bonds .. .. .. 5,000 0 0
Local-body debentures .. .. .. 531,335 15 2
First mortgages on freehold property .. .. .. 2,363,213 1 10
Total of investments .. .. .. 6,057,964 11 11
Total of current assets and investments .. .. .. 6,519,645 3 7
National Savings securities .. .. .. 1,589,324 5 1
Cash in hand and at bankers .. .. .. 30,051 2 3
Total securing National Savings depositors .. .. .. 1,619,375 7 4
Total of current assets, investments, and securities .. .. .. 8,139,020 10 11
Fixed assets, at cost, less depreciation:
Land and buildings .. .. .. 57,050 0 0
Office furniture, etc. .. .. .. 12,608 1 8
69,659 1 8
£8,208,678 12 7

DAVID MURDOCH, President.
W. G. HILLIKER, General 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 1955; (3) The General 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, Auditors.

Dunedin, 15 April 1955.

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