922

THE NEW ZEALAND GAZETTE

No. 40

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1963

£ s. d.
General charges including salaries, rent, cost
of note issue, and other expenses .. .. 984,405 19 5
Balance being profit for year .. .. 3,316,466 16 1
£4,300,872 15 6
================

Balance of profit after making provision for
rebate on Treasury bills not yet due and for
sundry liabilities and contingencies .. 4,300,872 15 6
£4,300,872 15 6
================

PROFIT AND LOSS APPROPRIATION ACCOUNT

£ s. d.
Payment to New Zealand Government in terms
of section 36 of Reserve Bank of New
Zealand Act 1933 .. .. .. 4,147,057 3 5
Balance .. .. .. 3,316,466 16 1
£7,463,523 19 6
================

Balance as at 1 April 1962 .. .. 4,147,057 3 5
Balance from Profit and Loss Account .. 3,316,466 16 1
£7,463,523 19 6
================

BALANCE SHEET AS AT 31 MARCH 1963

Liabilities
£ s. d.
General Reserve Fund .. .. .. 1,500,000 0 0
Bank notes .. .. .. 83,348,305 10 0
Demand Liabilities—
(a) State—
(i) Government marketing accounts 1,843,278 1 9
(ii) Other .. .. .. 44,505,429 15 1
(b) Banks .. .. .. 40,680,785 3 6
(c) Other—
(i) Marketing organisations .. 112,305 13 8
(ii) Other demand liabilities .. 2,336,972 1 0
Liabilities in currencies other than New
Zealand currency .. .. .. 104,440 2 6
Other accounts .. .. .. 7,291,619 12 8
Profit and Loss Appropriation Account .. 3,316,466 16 1
£185,039,602 16 3
================

Assets
£ s. d.
Gold .. .. .. .. 243,607 19 4
Sterling exchange .. .. .. 39,746,147 16 3
Other exchange .. .. .. .. 705,482 8 11
Subsidiary coin .. .. .. 451,262 2 7
Advances—
(a) To State or State undertakings—
(i) Government marketing accounts .. ..
(ii) For other purposes .. .. 299,864 8 1
(b) Other—
(i) Marketing organisations .. 46,625,549 3 8
(ii) Other .. .. .. 685,000 0 0
Investments—
(a) Sterling .. .. .. 20,941,612 14 10
(b) Other .. .. .. 70,841,021 3 2
Other assets .. .. .. 4,500,054 19 5
N.B.—Holdings of sterling have been converted into New Zealand currency at the
rate of £100 sterling equals £100N.Z.
£185,039,602 16 3
================

Contingent Liabilities

(1) In respect of a loan of $5,600,000 to Tasman Pulp and Paper Co. Ltd., a guarantee has been executed.
(2) In respect of a loan of $9,000,000 to Tasman Empire Airways Ltd., a joint and several guarantee in conjunction with the Reserve Bank of Australia has been executed.
The Government of New Zealand has indemnified the Bank in respect of both the above.
(3) In respect of an investment in 250,000 £1 shares in Commonwealth Development Finance Co. Ltd., of which 10s. per share is uncalled.

G. WILSON, Governor.
A. R. LOW, Deputy Governor.
R. M. SMITH, Chief Accountant.

AUDITORS’ CERTIFICATE AND REPORT

We have audited the Balance Sheet as at 31 March, 1963, 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 1963, according to the best of our information and the explanations given to us and as shown by the books of the Bank.

Wellington, New Zealand, 19 June 1963.

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

Ministry of Works—Schedule of Civil Engineering, Building and Housing Contracts of £10,000 or More in Value

Name of Work Successful Tenderer Amount of Tender Accepted
£ s. d.
Civil Engineering—
Construction of foundations, Porirua Station (Mungavin’s) Overbridge T. H. Richardson and Sons .. .. 22,606 10 0

Building—
Erection of automatic telephone exchange, Otara .. .. Commercial Building Services Ltd. .. 23,723 18 10

Housing—
Contract No. 208/361: Six units at Porirua .. .. Stevens and Macindoe Ltd. .. .. 19,750 0 0

J. T. GILKISON, Commissioner of Works.

New Zealand Railways—Schedule of Civil Engineering and Building Contracts of £10,000 or More in Value

Name of Work Successful Tenderer Amount of Tender Accepted
£ s. d
Construction of—
Amenities Block for Waterfront Industries Commission, Westport .. Messrs H. J. Neilsen Ltd., Westport .. 2,687 0 0
Shipping Shed, Westport .. .. .. Messrs H. J. Neilsen Ltd., Westport .. 19,817 6 0

A. T. GANDELL, General Manager.