27 JANUARY
THE NEW ZEALAND GAZETTE
203

Contingent liability—
Subsidy on home lay-by accounts, $20,000.

Note—The redemption value of the quoted New Zealand Government Stock appearing in the balance sheet is $25,453,795. The market value (which includes accrued interest $343,099) is $24,604,016.

The book values of securities purchased at a discount or a premium are adjusted through New Zealand Government Stock revaluation reserve at balance dates so as to attain their redemption values by maturity dates.

On behalf of the Board—
JOHN MOWBRAY, Director.
B. SIERAKOWSKI, Secretary.

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 OCTOBER 1971

1970
$N.Z.
2,056,593 Interest to depositors .. .. 2,162,951
490,479 Management and operating expenses 632,694
Directors’ fees .. .. .. .. ..
2,547,072 Total expenses .. .. 2,795,645
269,987 Provision for taxation .. .. 210,764
272,285 Net profit after taxation .. .. 214,569
—————————— ——————————
$3,089,344 $3,220,978
—————————— ——————————

1970
$N.Z.
2,246,363 Income from investments—
New Zealand Government stock
and local authority securities .. 2,353,646
825,998 Other investments .. .. 866,965
—————————— ——————————
3,072,361 3,220,611
16,983 Other income .. .. .. 367
—————————— ——————————
$3,089,344 $3,220,978
—————————— ——————————

PROFIT AND LOSS APPROPRIATION ACCOUNT

$N.Z. $N.Z.
87,229 Transfer to New Zealand Government stock—
Revaluation reserve .. 92,001
43,615 Less tax adjustment .. 46,001
—————————— ——————————
43,614 46,000
125,000 Transfer to general reserve .. .. 75,000
80,000 Provision for dividend .. .. 80,000
157,087 Balance carried forward .. .. 175,913
—————————— ——————————
$405,701 $376,913
—————————— ——————————

$N.Z. $N.Z.
132,182 Balance brought forward .. .. 157,087
272,285 Net profit for period .. .. 214,569
Transfer from New Zealand
Government stock revaluation reserve on account of
stock matured during
period .. .. .. 10,514
2,468 Less tax adjustment .. 5,257
1,234
—————————— ——————————
1,234 5,257
—————————— ——————————
$405,701 $376,913
—————————— ——————————

AUDITORS’ REPORT TO MEMBERS OF NATIONAL BANK OF NEW ZEALAND SAVINGS BANK LTD.

We have obtained all the information and explanations that we have required. In our opinion, proper books of account have been kept by National Bank of New Zealand Savings Bank Ltd., and proper returns, adequate for the purpose of our audit, have been received from branches, none of which have been visited by us. 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 profit and loss account are properly drawn up so as to give respectively, a true and fair view of the state of the company’s affairs as at 31 October 1971, and of the result of its business for the year ended on that date.

According to such information and explanations the accounts, the balance sheet, and the profit and loss account give the information required by the Companies Act 1955, in the manner so required.

HUTCHISON, ELLIFFE, DAVIES, ANDERSON, AND CO.,
Chartered Accountants.

Wellington, 6 December 1971.

417

NEW ZEALAND GOVERNMENT PUBLICATIONS

GOVERNMENT BOOKSHOP

A selective range of Government publications is available from the following Government Bookshops:
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N.Z. Display Centre, Cubacade, Cuba St.
Private Bag Telephone 559 572
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P.O. Box 5344 Telephone 32 919
Hamilton: Barton Street Telephone 80 103
P.O. Box 857
Christchurch: 130 Oxford Terrace Telephone 50 331
P.O. Box 1721
Dunedin: T. and G. Insurance Building, Princes Street
P.O. Box 1104 Telephone 78 294

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(3) Separate regulations as issued.

The price of each regulation is printed thereon.

GENERAL PUBLICATIONS

WAR IN THE TUSSOCK
Te Kooti and the Battle at Te Porere
By ORMOND WILSON
72 pages. Price 50c.

WELLINGTON LOCAL GOVERNMENT AREA SCHEME
PROVISIONAL SCHEME AND EXPLANATORY STATEMENT
140 pages. Price $1.50.

WISE LAND USE AND COMMUNITY DEVELOPMENT
Report of the Technical Committee of Inquiry into the problems of the Poverty Bay-East Cape District.
122 pages, illustrated, plus maps. Price $5.