4 SEPTEMBER
THE NEW ZEALAND GAZETTE
1195

THE DUNEDIN SAVINGS BANK

STATEMENT of receipts and payments for year ended 31 March 1958.

RECEIPTS
£ s. d.
Balance, 1 April 1957 .. .. .. 274,617 10 1
Lodged by depositors .. .. .. 4,615,930 1 9
Lodged by national savings investment accounts 147,066 15 8
Loan interest .. .. .. 143,169 8 0
Debenture interest .. .. .. 152,138 2 5
Bank interest .. .. .. 7,004 12 6
National savings interest .. .. .. 50,524 4 1
Loans repaid .. .. .. 273,818 17 8
Debentures repaid .. .. .. 31,410 1 8
Refunds, commission, etc. .. .. .. 2,210 5 4
Rents .. .. .. 2,568 18 5
Fines .. .. .. 19 13 6
Staff Provident Fund .. .. .. 1,348 10 8
Received on behalf of other trustee savings banks 50,615 15 10
Received from investors in Government stock 71,020 0 0
Sales of travellers cheques .. .. .. 3,575 2 2
Land and buildings .. .. .. 187 2 7
Office furniture, etc. .. .. .. 25 0 0
£5,827,250 2 4

PAYMENTS
£ s. d.
Withdrawn by depositors .. .. .. 4,101,503 2 10
Withdrawn by national savings investment accounts 302,377 16 5
Charges .. .. .. 51,252 8 10
Income and social security taxes .. .. .. 9,610 6 3
Loans granted .. .. .. 468,219 0 7
Debenture purchased .. .. .. 273,500 0 0
Grants .. .. .. 5,025 0 0
Loan interest .. .. .. 326 18 9
Debenture interest .. .. .. 212 18 3
Office furniture, etc. .. .. .. 574 0 11
Land and buildings .. .. .. 5,025 11 10
Staff Provident Funds .. .. .. 606 1 6
Paid on behalf of other trustee savings banks 42,506 14 0
Proceeds of sales of Government stock .. .. .. 71,020 0 0
Proceeds of sales of travellers cheques 3,567 10 9
Balance, 31 March 1958 .. .. .. 491,922 11 5
£5,827,250 2 4

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1958

Interest credited to depositors—
£ s. d. £ s. d.
Open accounts .. .. .. 197,099 12 2
Closed accounts .. .. .. 11,661 13 5
208,761 5 7

Interest on Staff Provident Funds .. .. .. 1,410 6 6

Provision for interest accrued on investment accounts suspensory free deposits on home Layby accounts .. .. .. 360 0 0

Charges and administration expenses .. .. .. 52,259 7 10

Depreciation—
Buildings .. .. .. 4,848 15 8
Office furniture, etc. .. .. .. 6,075 19 2
10,924 14 10

Provision for taxation .. .. .. 19,300 0 0

Profit and Loss Appropriation Account: Net Profit .. .. .. 18,865 17 3
£311,881 12 0

£ s. d.
Investment interest .. .. .. 306,892 15 9
Fines .. .. .. 19 13 6
Rents .. .. .. 2,574 6 6
Commission, refunds, etc. .. .. .. 2,394 16 3
£311,881 12 0

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1958

£ s. d.
Provision for grants .. .. .. 5,500 0 0
Reserve Fund .. .. .. 13,365 17 3
£18,865 17 3

£ s. d.
Profit and Loss Account .. .. .. 18,865 17 3
£18,865 17 3

RESERVE FUND ACCOUNT AS AT 31 MARCH 1958

£ s. d.
Balance .. .. .. 416,732 12 3
£416,732 12 3

£ s. d.
Balance, 1 April 1957 .. .. .. 402,319 1 3
Excess provision for taxes 31 March 1957 572 13 9
Excess provision for grants 31 March 1957 475 0 0
Profit and Loss Appropriation Account 13,365 17 3
£416,732 12 3

BALANCE SHEET AS AT 31 MARCH 1958

Depositors’ balances—
£ s. d. £ s. d.
Savings bank department 7,283,090 10 7
Thrift club accounts 183,194 10 9
Special purpose accounts 123,989 4 0
Home Lay-by accounts 21,921 12 1
Investment accounts 20,440 0 0
Ordinary depositors’ total .. .. .. 7,632,635 17 5

National Savings—
Depositors’ balances 1,339,397 5 11
Add National Savings Interest Suspense Account 21,986 1 11
1,361,383 7 10

Other credit balances—
Sundry creditors .. .. .. 3,116 0 0
Owing to other trustee savings banks .. .. .. 7,182 3 9
Staff Provident Funds .. .. .. 41,757 8 1
Provision for taxation .. .. .. 19,300 0 0
Provision for grants .. .. .. 5,500 0 0
Provision for interest accrued on investment accounts and for suspensory free deposits on home Layby accounts.. 360 0 0
77,215 11 10

Reserve Fund Account .. .. .. 416,732 12 3
£9,487,967 9 4

Current assets—
£ s. d. £ s. d.
Cash in hand and at bankers .. .. .. 491,922 11 5
Fixed deposits .. .. .. 200,000 0 0
691,922 11 5

Interest due and accrued on investments, etc. 62,870 3 6
Rents and commissions accrued .. .. .. 492 3 1
Total current assets.. .. .. .. 755,284 18 0

Investments—
New Zealand Government inscribed stock 3,780,086 12 2
Local body debentures .. .. .. 571,359 2 5
First mortgages on freehold property .. .. .. 2,926,971 16 10
Total of investments .. .. .. 7,278,417 11 5

Total of current assets and investments 8,033,702 9 5

National savings securities.. .. .. .. 1,361,383 7 10
Total securing national savings depositors 1,361,383 7 10

Total of current assets, investments, and securities .. .. .. 9,395,085 17 3

Fixed assets, at cost, less depreciation—
Land and buildings .. .. .. 68,084 5 0
Office furniture, etc. .. .. .. 24,797 7 1
92,881 12 1

                                                  £9,487,967  9  4

C. J. WOOD, President.
W. G. HILLIKER, General Manager.

We, the undersigned, J. S. McInnes and Sons and James Brown and Co., 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 1958; (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.

J. S. McINNES AND SONS
JAMES BROWN AND CO. } Auditors

Dunedin, 5 May 1958.

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