2094

THE NEW ZEALAND GAZETTE
No. 73

AUDITORS' REPORT

To THE MEMBERS OF THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LTD.

IN our opinion the accompanying balance sheet and profit and loss account give a true and fair view of the state of affairs of The Commercial Bank Savings Bank (N.Z.) Ltd., at 30 June 1971, and of its results for the year ended on that date.

We have obtained all the information and explanations we have required. In our opinion, the company has kept proper books, and the balance sheet and profit and loss account give, in the prescribed manner, the information required by the Companies Act 1955.

Wellington, New Zealand, 26 August 1971.
D. A. F. CROMBIE
G. L. ALLARD
Chartered Accountants.

2495

THE PERPETUAL TRUSTEES ESTATE AND AGENCY COMPANY AMENDMENT ACT 1971

NOTICE is hereby given that the Perpetual Trustees Estate and Agency Co. of New Zealand Ltd. proposes to apply for leave to bring into the General Assembly of New Zealand in Parliament assembled during its present session a Private Bill, the objects of which are to restrict the owning or holding of shares of the company by any person to one-fiftieth of the issued shares in the capital of the company, to provide for the compulsory sale of shares in cases where shareholders own or hold shares in excess of the above restriction and to provide that during the time that a person holds shares in contravention to the provisions of the Act the registered holder of the shares shall not be entitled to exercise more votes than are permitted by a one-fiftieth holding of shares in the capital of the company.

The promoter of the Private Act is the Perpetual Trustees Estate and Agency Co. of New Zealand Ltd.

Communications or notices to the promoter may be sent to, and copy of the Bill may be inspected at, the offices of Messrs Downie Stewart, Payne, Forrester, and Armitage, solicitors for the promoter, 335 Princes Street, Dunedin.

2554

CONTENTS

ADVERTISEMENTS ... ... ... ... PAGE 2083
APPOINTMENTS ... ... ... ... 2055
BANKRUPTCY NOTICES ... ... ... 2081
LAND TRANSFER ACT: NOTICES ... ... 2082

MISCELLANEOUS—

Agricultural Chemicals Act: Notice ... 2076
Agricultural Pests Destruction Act: Notices ... 2066, 2072, 2075, 2076
Bylaws Act: Notice ... ... ... 2057
Control of Prices Act: Notice ... ... 2075
Customs Act: Notice ... ... ... 2056
Customs Tariff: Notices ... ... ... 2077
Dairy Factory Managers Regulations: Notice ... 2065
Disabled Persons Employment Promotion Act: Notice 2056
Education Act: Notice ... ... ... 2057
Harbours Act: Notice ... ... ... 2066
Indecent Publications Tribunal: Notices ... 2076
Land Districts, Land Reserved, Revoked, etc. ... 2066, 2076
Local Authorities Loans Act: Notice ... 2074
Maori Affairs Act: Notices ... ... 2066
National Roads Board: Notices ... ... 2075
Officiating Ministers: Notices ... ... 2056
Public Works Act: Notices ... ... 2057
Regulations Act: Notice ... ... ... 2076
Sale of Liquor Act: Notice ... ... ... 2075
Schedule of Contracts: Notice ... ... 2077
Tokelau Islands Amendment Act: Notice ... 2066
Traffic Regulations: Notice ... ... 2066
Valuation of Land Act: Notice ... ... 2075

PROCLAMATIONS, ORDERS IN COUNCIL, AND WARRANTS 2051–2055

Price 30c

BY AUTHORITY: A. R. SHEARER, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1971

1970 NZ$

Deposits—
With The Commercial Bank of Australia Ltd. $1,304,018
With the official short-term money market .. 50,000
$1,354,018

Investments—
New Zealand Government stock, at cost— $8,710,000
3½ percent Special . . 9,715,000
Other . . . . 10,085,076
$10,905,516
Local authority securities,
at cost . . . . 590,424
Other investments, at cost 25,000
Nominal value
$20,594,114
(see Note)
Market value
$20,372,443
(See Note)
Mortgages and other loans
less provisions for bad and doubtful debts 2,706,915
207,493
Interest accrued . . 224,694
$23,145,348
$24,499,366

NOTE—The New Zealand Government and Local Authority Securities and other investments are all redeemable at par at fixed dates. Whilst in the ordinary course of business, some realisation of the bank's investment in these securities may prove advantageous, at prices less than book values shown, it is the opinion of the directors that existing reserves would be more than adequate to cover any contingency that may arise.

On behalf of the Board: T. L. WEBB, Director.
THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LTD.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 1971

1970 NZ$

782,274 Interest to depositors
236,000 Management and operating expenses
2,000 Provision for bad and doubtful debts
46,774 Provision for taxation
46,921 Net profit for the year
$1,113,969

1970 NZ$

50,000 Transfer to general reserve
43,338 Balance carried forward
$93,338

1970 NZ$

Income from—
New Zealand Government stock and local authority securities 903,219
Other investments 209,679
Other sources . . . $1,071
$1,113,969

1970 NZ$

46,417 Balance brought forward from previous year
46,921 Net profit for the year as above
$93,338

1971 NZ$

1,609,026
...
1,609,026

$9,715,000
$10,085,076
624,586
91,000

20,515,662

2,955,599

23,695,955
$25,304,981

818,844
265,000
1,500
57,872
58,557
$1,201,773

50,000
51,895
$101,895

940,837
260,059
877
$1,201,773

43,338
58,557
$101,895