1338
THE NEW ZEALAND GAZETTE
No. 51

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1957

General charges, including salaries, rent, cost of
note issue, and other expenses £ s. d.
630,796 18 9
Balance, being profit for year 3,475,476 12 4
£4,106,273 11 1

Balance of profit after making provision for rebate on Treasury bills not yet due and for
sundry liabilities and contingencies £ s. d.
4,106,273 11 1
£4,106,273 11 1

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.
2,674,432 1 5
Balance 3,475,476 12 4
£6,149,908 13 9

Balance as at 1 April 1956 £ s. d.
2,674,432 1 5
Balance from Profit and Loss Account 3,475,476 12 4
£6,149,908 13 9

BALANCE SHEET AS AT 31 MARCH 1957

Liabilities £ s. d.
General Reserve Fund 1,500,000 0 0
Bank notes 71,443,072 0 0
Demand liabilities—
(a) State—
(i) Government marketing accounts 1,324,725 18 8
(ii) Other 43,803,739 15 0
(b) Banks 42,499,415 1 0
(c) Other—
(i) Marketing organisations 301,536 1 2
(ii) Other demand liabilities 1,964,834 0 4
Liabilities in currencies other than New Zealand currency 38,577 17 9
Other accounts 6,831,302 8 5
Profit and Loss Appropriation Account 3,475,476 12 4
£173,182,679 14 8

Assets £ s. d.
Gold (at cost) 6,162,136 2 10
Sterling exchange 36,265,258 8 0
Other exchange 437,679 13 3
Subsidiary coin 645,773 3 4
Advances—
To State or State undertakings—
(a) Government marketing accounts 296,538 18 6
(b) For other purposes 50,008,833 2 4
Other—
(a) Marketing organisations 35,269,249 11 8
(b) Other advances 3,764,062 8 11
Investments—
(a) Sterling 27,785,974 9 3
(b) Other 10,387,187 0 5
Other assets 2,159,986 16 2
N.B.—Holdings of sterling have been converted into New Zealand currency at the rate
of £(Stg.)100 equals £(N.Z.)100.
£173,182,679 14 8

E. C. FUSSELL, Governor.
G. WILSON, Deputy Governor.
H. M. IBELL, Acting Chief Accountant.

AUDITORS’ CERTIFICATE AND REPORT

We have audited the balance sheet as at 31 March 1957, 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 1957, 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. CROMBIE
F. H. HARRIS
} Public Accountants, Auditors.

Wellington, 28 June 1957.

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, 3 JULY 1957

Liabilities £ s. d.
2. General Reserve Fund 1,500,000 0 0
3. Bank notes 72,493,969 0 0
4. Demand liabilities—
(a) State—
(i) Government marketing accounts 382,246 5 1
(ii) Other 12,559,986 5 11
(b) Banks 69,469,881 7 8
(c) Other—
(i) Marketing organisations 283,266 17 1
(ii) Other demand liabilities 1,678,204 2 3
5. Time deposits
6. Liabilities in currencies other than New Zealand currency 34,203 19 8
7. Other liabilities 7,269,940 1 11
£165,671,697 19 7

Assets £ s. d.
8. Reserve—
(a) Gold 6,162,175 5 10
(b) Sterling exchange 56,165,180 15 4
(c) Gold exchange
(d) Other exchange 484,668 0 1
9. Subsidiary coin 602,676 4 7
10. Discounts—
(a) Commercial and agricultural bills
(b) Treasury and local body bills
11. Advances—
(a) To the State or State undertakings—
(i) Government marketing accounts 299,128 14 10
(ii) For other purposes 29,292,912 14 10
(b) To other public authorities
(c) Other—
(i) Marketing organisations 30,363,139 15 9
(ii) Other advances 2,509,374 18 11
12. Investments—
(a) Sterling 27,735,974 9 3
(b) Other 10,388,127 5 6
13. Bank buildings
14. Other assets 1,668,339 14 8
£165,671,697 19 7

H. M. IBELL, Acting Chief Accountant.