WANGANUI COUNTY COUNCIL

RESOLUTION MAKING SPECIAL RATE

PURSUANT to the Local Authorities Loans Act 1956, the Wanganui County Council hereby resolves as follows:

"That, for the purpose of providing the annual charges on a loan of $40,000 authorised to be raised by the Wanganui County Council pursuant to the Local Authorities Loans Act 1956 for the purpose of making advances to farmers in terms of the Rural Housing Act 1939, the said Wanganui County Council hereby makes a special rate of 0.02c in the $1 on the capital rateable value of the County of Wanganui; and that the special rate shall be an annually recurring rate during the currency of the loan, and be payable yearly on the 1st day of September in each and every year during the currency of the loan, being a period of 35 years or until the loan is fully paid off."

A. F. LEWIS, County Clerk.

BANK OF NEW SOUTH WALES SAVINGS BANK (NEW ZEALAND) LTD.

BALANCE SHEET—30 SEPTEMBER 1969

$

Liabilities and shareholders' equity

Shareholders' equity—
Authorised capital—

Issued and paid up capital—

Unappropriated profits .. 443,248
Total shareholders' equity .. 843,248

Current liabilities—
Depositors' accounts—

Provision for taxation .. 13,973
Other, including interest accrued on depositors' balances .. 871,572
Total current liabilities .. 49,863,142
Contingent liability (Note 1).

$50,706,390

$

Assets

Investments—
Public securities (Note 2)—
New Zealand Government stock—

Local and semi-government authority .. 1,225,346
Mortgages and other loans .. 5,640,322
Deposits at call or short call .. 750,000
Interest accrued on investments .. 531,308
Total investments .. 48,669,742
Current assets—
Deposit at Bank of New South Wales 2,036,648
$50,706,390

STATEMENT OF PROFIT AND UNAPPROPRIATED PROFITS—YEAR ENDED 30 SEPTEMBER 1969

$

Income—
Income from investments—

Expenses—

Net profit before taxation .. 265,138
Provision for taxation—

Net profit .. 131,493
Unappropriated profits—
Balance at beginning of period .. 309,603
Balance at end of period .. $443,248

J. W. DUNLOP, Director.
L. K. CAMERON, Secretary.

NOTES TO FINANCIAL STATEMENTS—30 SEPTEMBER 1969

NOTE 1. Contingent liability—At 30 September 1969, the company was contingently liable for subsidies to home lay-by account holders in the amount of $11,021 (1968—$8,224).

NOTE 2. Public securities—The book values of New Zealand public securities purchased at a discount or at a premium are adjusted annually so as to attain redemption value by maturity date. The redemption value of these securities at 30 September 1969 amounted to $41,937,092 (1968—$35,195,978).

AUDITORS' REPORT

We have obtained all the information and explanations that we have required. In our opinion proper books of account have been kept by the company so far as appears from our examination of those books.

In our opinion, according to the best of our information and the explanations given to us and as shown by the said books, the balance sheet and the statement of profit and unappropriated profits, together with the notes thereto, are properly drawn up so as to give respectively a true and fair view of the state of the company's affairs as at 30 September 1969, and of the results of its business for the year then ended.

According to such information and explanations the accounts, the balance sheet, and the statement of profit and unappropriated profits give the information required by the Companies Act 1955, in the manner so required.

WILBERFOSS AND CO., Auditors.

10 October 1969.

NEW ZEALAND GOVERNMENT PUBLICATIONS

GOVERNMENT BOOKSHOP

A selective range of Government publications is available from the following Government Bookshops:

Wellington : Mulgrave Street Private Bag Telephone 46 807
Auckland : State Advances Bldg., Rutland Street P.O. Box 5344 Telephone 32 919
Hamilton: Alma Street P.O. Box 857 Telephone 80 103
Christchurch: 130 Oxford Terrace P.O. Box 1721 Telephone 50 331
Dunedin: T. and G. Insurance Building, Princes Street P.O. Box 1104 Telephone 78 294 Wholesale Retail Mail Order