INVERCARGILL SAVINGS BANK

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

RECEIPTS

Cash in hand and at banks, 1 April 1956 ... 214,099 4 0
Deposits—
Savings bank accounts ... 7,960,193 0 7
Thrift clubs ... 13,387 1 8
National savings accounts ... 23,226 0 1
Interest—
New Zealand Government stock ... 89,198 10 10
Local-body debentures ... 44,340 8 0
Mortgages ... 76,157 11 2
Other investments ... 23,824 6 3
Principal repayments—
Local body ... 59,060 10 7
Mortgages ... 109,919 0 6
Other investments ... 440,000 0 0
Branch remittances ... 1,387,269 16 1
Other trustee savings banks ... 6,998 11 11
Exchanges, fines, and forms Commission ... 43 0 0
Rents ... 505 10 0
Sundries ... 76 8 9
Valuation fees ... 931 7 9

£10,451,061 16 3

PAYMENTS

Withdrawals—
Savings bank accounts ... 7,587,143 11 10
Thrift clubs ... 13,851 18 0
National savings accounts ... 80,132 17 1
New Zealand Government stock ... 238,400 0 0
Local-body debentures ... 148,875 0 0
Mortgages ... 284,013 8 6
Other investments ... 340,000 0 0
Branch remittances ... 1,370,137 15 11
Buildings additions, office machines, donations, furniture and fittings, taxation ... 29,208 4 1
Cash in hand and at banks ... 306,542 19 0
Fuel, light, and cleaning ... 539 4 0
Miscellaneous payments ... 6,780 5 10
Other trustee savings banks ... 4,665 10 5
Perusal fees ... 124 18 9
Postages, telephones, and tolls ... 669 3 10
Printing, stationery, and advertising ... 3,082 18 10
Repairs and maintenance ... 2,008 17 0
Sundry charges including salaries, fees, traveling and relieving expenses ... 34,885 3 2

£10,451,061 16 3

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1957
Dr.
Interest credited to depositors—
Savings bank accounts—
Open ... 166,276 6 0
Closed ... 4,178 13 7
National savings accounts—
Open ... 13,103 8 5
Closed ... 203 19 2
Charges and management expenses ... 43,864 5 10
Depreciation—
Buildings ... 6,100 3 7
Furniture and fittings ... 698 14 0
Ledger posting machines ... 1,595 11 0
Office machines ... 45 11 0
Provision for taxation ... 12,065 17 0
Net profit transferred to Profit and Loss Appropriation Account ... 12,997 4 3

£261,129 13 10
Cr.
Interest on investments—
Local-body stock and debentures ... 47,492 17 7
Mortgages ... 80,898 8 4
Fixed deposits ... 11,705 15 10
New Zealand Government stock ... 86,443 2 9
New Zealand Government national development stock 16,188 3 10
Interest on national savings securities ... 14,565 19 6
Rents ... 505 10 0
Commission ... 1,831 8 1
Exchanges, fines, and forms ... 125 2 5
Bad debts recovered ... 650 0 0
Valuation fees ... 723 5 6

£261,129 13 10

PROFIT AND LOSS APPROPRIATION ACCOUNT

Dr.
Provision for donations ...
Balance to Reserve Fund ...

£ s. d.
4,000 0 0
8,997 4 3
£12,997 4 3

Cr.
Balance from Profit and Loss Account ...

£ s. d.
12,997 4 3
£12,997 4 3

BALANCE SHEET AS AT 31 MARCH 1957
Current Liabilities

Depositors' balances—
Savings bank accounts
Thrift club accounts
National savings accounts
Other liabilities—
National Savings Interest
Suspense Account
Mortgage Interest Rebates
Suspense Account
Provision for donations
Provision for taxation

£ s. d.
7,017,352 15 11
6,337 6 7
...
7,023,690 2 6
387,454 8 8
10,068 8 9
639 7 2
4,000 0 0
12,065 17 0
26,773 12 11

Total liabilities and provisions ...
Reserve Fund—
Balance at 1 April 1956 ...
Add Investment Fluctuation Account ...
Add over-provision for tax, 1956 ...
Add over-provision for donations ...
Add Profit and Loss Appropriation Account

...
174,137 12 11
35,415 0 0
166 14 1
50 0 0
8,997 4 3
218,766 11 3

£7,656,684 15 4

Current Assets

Cash in hand and at banks
National Bank of New Zealand Ltd.: Fixed deposits
Branch remittances in transit
Interest due and accrued on investments
Sundry debtors: Valuation fees

£ s. d.
306,542 19 0
405,000 0 0
98 19 6
62,289 14 9
183 0 6
62,571 14 9

Investments—
New Zealand Government stock
New Zealand Government national development stock
Local-body stock and debentures
Mortgages
National savings securities
Total of current assets and investments
Fixed assets at cost, less depreciation—
Buildings
Add additions
Less depreciation
Furniture and fittings
Add additions
Less depreciation
Ledger posting machines
Add additions
Less depreciation
Office machines
Add additions
Less depreciation
Property
Home safes on hand

...
2,948,680 0 0
431,685 0 0
1,408,062 0 0
1,619,977 17 6
...
6,408,404 17 6
395,800 0 0
...
59,088 8 6
1,220 17 5
60,309 5 11
6,100 3 7
...
8,183 8 1
2,348 3 3
10,531 11 4
698 14 0
...
6,169 17 0
2,546 11 0
8,176 8 0
1,595 11 0
...
515 17 11
160 7 9
676 5 8
45 11 0
...
6,424 12 9
147 0 0

£7,656,684 15 4
A. R. DAWSON, President.
J. T. SHAW, General Manager.