THE DUNEDIN SAVINGS BANK

STATEMENT of receipts and payments for the year ended 31 March 1957.

RECEIPTS

Balance, 1 April 1956 ... 275,891 9 3
Lodged by depositors ... 3,993,202 15 10
Lodged by national savings investment accounts 157,520 3 7
Loan interest ... 120,052 9 11
Debenture interest ... 125,507 19 10
Bank interest ... 6,248 9 6
National savings interest ... 41,882 5 9
Loans repaid ... 257,976 17 5
Debentures repaid ... 39,604 14 8
Refunds, commission, etc. ... 1,874 3 5
Rents ... 2,071 3 11
Fines ... 14 2 6
Staff Provident Fund ... 1,269 1 5
Received on behalf of other trustee banks ... 43,525 2 3
Received from investors in Government stock ... 49,220 0 0
Sales of travellers cheques ... 1,948 19 2
Land and buildings ... 6,229 18 3
Office furniture, etc. ... 275 0 0
£5,124,314 16 8

PAYMENTS

Withdrawn by depositors ... 3,680,644 3 7
Withdrawn by national savings investment accounts ... 262,564 0 1
Charges ... 46,412 7 2
Income and social security taxes ... 12,152 12 7
Loans granted ... 511,267 5 11
Debentures purchased ... 212,066 17 6
Grants ... 5,000 0 0
Loan interest ... 147 0 8
Debenture interest ... 301 16 2
Office furniture, etc. ... 2,693 11 6
Land and buildings ... 20,241 12 2
Staff Provident Funds ... 641 17 11
Paid on behalf of other trustee banks ... 44,399 12 7
Proceeds of sales of Government stock ... 49,220 0 0
Proceeds of sales of travellers cheques ... 1,944 8 9
Balance ... 274,617 10 1
£5,124,314 16 8

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1957

Dr.

Interest credited to depositors—
Open accounts ... 179,256 6 6
Closed accounts ... 9,898 11 10
189,154 18 4
Interest on Staff Provident Funds ... 1,243 16 5
Charges and administration expenses ... 49,133 4 4
Depreciation—
Buildings ... 2,866 16 9
Office furniture, etc. ... 5,077 15 1
7,944 11 10
Provision for taxation ... 10,183 0 0
Profit and Loss Appropriation Account: Net Profit ... 12,642 18 10
£270,302 9 9

Cr.

Investment interest ... 266,334 7 9
Fines ... 14 2 6
Rents ... 2,075 5 8
Commission, refunds, etc. ... 1,878 13 10
£270,302 9 9

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1957

Dr.

Provision for grants ... 5,500 0 0
Reserve Fund ... 7,142 18 10
£12,642 18 10

Cr.

Profit and Loss Account ... 12,642 18 10
£12,642 18 10

RESERVE FUND ACCOUNT AS AT 31 MARCH 1957

Dr.

Loss on loan on mortgage ... 1,439 0 0
Buildings: Residual value of demolished building 1,716 0 0
Loss on change of securities ... 2,816 17 6
Balance ... 402,319 1 3
£408,290 18 9

Cr.

Balance, 1 April 1956 ... 399,960 6 8
Excess provision for taxes, 31 March 1956 ... 1,187 13 3
Profit and Loss Appropriation Account ... 7,142 18 10
£408,290 18 9

BALANCE SHEET AS AT 31 MARCH 1957

Depositors' balances—
Savings bank department 6,665,696 7 6
Thrift club accounts ... 146,790 9 9
Special purpose accounts 96,960 15 8
Ordinary depositors' total 6,909,447 12 11
National savings—
Depositors' balances ... 1,444,322 3 11
Add National Savings Interest Suspense Account ... 23,702 9 3
1,468,024 13 2
Other credit balances—
Sundry creditors ... 2,575 10 4
Owing to other trustee savings banks ... 101 0 0
Staff Provident Funds ... 37,973 10 7
Provision for taxation ... 10,183 0 0
Provision for grants ... 5,500 0 0
56,333 0 11
Reserve Fund ... 402,319 1 3
£8,836,124 8 3

Current assets—
Cash in hand and at bankers ... 250,915 0 10
Fixed deposits ... 200,000 0 0
450,915 0 10
Interest due and accrued on investments, etc. ... 58,213 8 2
Rents accrued ... 302 4 1
Owing by other trustee savings banks ... 1,027 18 1
Total current assets ... 510,458 11 2
Investments—
New Zealand Government inscribed stock ... 3,497,947 16 1
Local-body debentures ... 528,469 4 1
First mortgages on freehold property ... 2,733,069 6 9
Total of investments ... 6,759,486 6 11
Total of current assets and investments ... 7,269,944 18 1
National savings securities 1,444,322 3 11
Cash in hand and at bankers ... 23,702 9 3
Total securing national savings depositors ... 1,468,024 13 2
Total of current assets, investments and securities ... 8,737,969 11 3
Fixed assets, at cost, less depreciation—
Land and buildings ... 71,062 3 7
Office furniture, etc. ... 27,092 13 5
98,154 17 0
£8,836,124 8 3

I. S. CANTRELL, President.
W. G. HILLIKER, General Manager.

We, the undersigned, James 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 1957; (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, 6 May 1957.