12 JULY
THE NEW ZEALAND GAZETTE
927

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1956

General charges, including salaries, rent, cost of note issue, and other expenses .. £ s. d.
586,103 19 4
Balance, being profit for year 2,674,432 1 5
£3,260,536 0 9

Balance of profit after making provision for rebate on Treasury bills not yet due and for sundry liabilities and contingencies £ s. d.
3,260,536 0 9
£3,260,536 0 9

PROFIT AND LOSS APPROPRIATION ACCOUNT

Payment to New Zealand Government in terms of section 36 of Reserve Bank of New Zealand Act 1933 £ s. d.
2,058,901 11 7
Balance 2,674,432 1 5
£4,733,333 13 0

Balance as at 1 April 1955 £ s. d.
2,058,901 11 7
Balance from Profit and Loss Account 2,674,432 1 5
£4,733,333 13 0

BALANCE SHEET AS AT 31 MARCH 1956

Liabilities £ s. d. Assets £ s. d.
General Reserve Fund 1,500,000 0 0 Gold (at cost) 6,161,590 18 10
Bank notes 70,163,237 10 0 Sterling exchange 28,857,057 7 7
Demand liabilities— Other exchange 312,494 19 2
(a) State— Subsidiary coin 590,064 18 4
(i) Government marketing accounts 1,689,415 15 10 Advances—
(ii) Other 47,329,492 1 3 To State or State undertakings—
(b) Banks 24,762,534 13 1 (a) Government marketing accounts 430,731 18 6
(c) Other— (b) For other purposes 50,302,215 4 5
(i) Marketing organisations 412,774 3 9 Other—
(ii) Other demand liabilities 2,015,067 12 5 (a) Marketing organisations 26,111,754 12 7
Liabilities in currencies other than New Zealand currency 112,890 11 10 (b) Other advances 5,388,749 18 11
Other accounts 7,120,160 5 9 Investments—
Profit and Loss Appropriation Account 2,674,432 1 5 (a) Sterling 27,890,974 9 3
(b) Other 10,388,274 3 0
Other assets 1,346,096 4 9
N.B.—Holdings of sterling have been converted into New Zealand currency at the rate of £(stg.)100 equals £(N.Z.)100.
£157,780,004 15 4

£157,780,004 15 4

E. C. FUSSELL, Governor.
R. N. FLEMING, Chief Accountant.

AUDITORS’ CERTIFICATE AND REPORT

We have audited the Balance Sheet as at 31 March 1956, 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 1956, according to the best of our information and the explanations given to us and as shown by the books of the Bank

Wellington, 11 June 1956.

D. A. F. CROMBIE }
F. H. HARRIS } Public Accountants, Auditors.

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, 27 JUNE 1956

Liabilities £ s. d. Assets £ s. d.
2. General Reserve Fund 1,500,000 0 0 8. Reserve—
3. Bank notes 69,430,785 10 0 (a) Gold 6,161,595 5 10
4. Demand liabilities— (b) Sterling exchange 51,715,088 4 0
(a) State— (c) Gold exchange 412,938 9 0
(i) Government marketing accounts 1,914,111 12 10 (d) Other exchange 596,915 1 11
(ii) Other 10,114,723 3 11 9. Subsidiary coin
(b) Banks 72,326,280 18 11 10. Discounts—
(c) Other— (a) Commercial and agricultural bills
(i) Marketing organisations 166,405 12 4 (b) Treasury and local body bills
(ii) Other demand liabilities 4,119,863 2 4 11. Advances—
5. Time deposits (a) To the State or State undertakings—
6. Liabilities in currencies other than New Zealand currency 42,278 15 5 (i) Government marketing accounts 429,820 17 5
7. Other liabilities 7,042,758 4 2 (ii) For other purposes 36,611,848 10 6
(b) To other public authorities
(c) Other—
(i) Marketing organisations 16,821,750 10 0
(ii) Other advances 14,858,749 18 11
12. Investments—
(a) Sterling 27,785,974 9 3
(b) Other 10,387,214 8 0
13. Bank buildings
14. Other assets 875,311 5 1
£(N.Z.)166,657,206 19 11

£(N.Z.)166,657,206 19 11

*Expressed in New Zealand currency.

R. N. FLEMING, Chief Accountant.