New Zealand Gazette – 1975 – No. 70

Page 1934

✨ Bank Financial and Bankruptcy Notices



RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1975

1975 $ 1974 $
General charges including salaries, rent, cost of note issues, overseas debt charges, and other expenses 28,894,642 15,937,500
Balance of profit for year ... 12,564,255

$28,894,642 $28,501,755

| Balance of profit after making provision for rebate on bills not yet due and for sundry liabilities and contingencies including loss on realisation of investments $48.9 million | 772,118 | 28,501,755 |
| Loss for year carried to profit and loss appropriation account | 28,122,524 | ... |

$28,894,642 $28,501,755

PROFIT AND LOSS APPROPRIATION ACCOUNT

1975 $ 1974 $
Payment to New Zealand Government in terms of section 40 of Reserve Bank of New Zealand Act, 1964 16,403,851 7,904,657
Net loss for year ended 31 March, 1975 28,122,524 ...
Balance at end of year ... 16,403,851

$44,526,375 $24,308,508

| Balance at beginning of year | 16,403,851 | 7,904,657 |
| Balance from profit and loss account | ... | 12,564,255 |
| Compensation received under sterling guarantee agreement in respect of year ended 31 March 1973 | ... | 3,839,596 |
| Transfer from investment reserve to cover loss for year ended 31 March 1975 | 28,122,524 | ... |

$44,526,375 $24,308,508

BALANCE SHEET AS AT 31 MARCH 1975

Liabilities

1975 $ 1974 $
Notes in circulation 336,470,731 285,593,547
Demand deposits—
(a) State 154,005,678
(b) Banks 19,873,377
(c) Marketing accounts 13,327,651
(d) Other 317,313,778
Term deposits 124,310,099 219,756,140
Liabilities in currencies other than New Zealand currency— 37,889,638 349,449
(a) Demand 714,917
(b) Time 37,174,721
Other liabilities 7,166,333 9,083,801
Allocation of special drawing rights by I.M.F. 64,626,129 61,966,071
Capital accounts—
(a) General reserve fund 3,000,000
(b) Other reserves 21,048,829
Profit and loss appropriation account ... 16,403,851

$1,099,032,243 $961,302,008

Assets

1975 $ 1974 $
Gold 704,991 704,991
Overseas assets—
(a) Current accounts and short-term bills 101,964,742 81,633,792
(b) Investments (see note 2) 119,568,371 345,427,822
(c) Holdings of special drawing rights 4,807,352 51,898,540
New Zealand coin 6,456,935 4,822,824
Discounts 6,600,000 6,300,000
Advances—
(a) To the State 675,033 234,914
(b) To marketing accounts 392,890,356 256,238,271
(c) Export credits 15,362,113 9,219,219
(d) Other 83,788,998 4,570,608
Investments in New Zealand— 306,461,330 136,521,778
New Zealand Government securities ...
Other assets ... ...

$1,099,032,243 $961,302,008

NOTES:

  1. Holdings of assets denominated in other than New Zealand currency have been converted at the appropriate telegraphic transfer rates ruling at 31 March 1975.
  2. Overseas Assets—(b) Investments—These investments are shown in the balance sheet at the New Zealand equivalent of foreign currency cost (market value at balance day $112,532,648).
  3. Other investments are shown at the lower of book or market value.
  4. Contingent liabilities—
    (a) In respect of an investment of 250,000 £stg.1. shares in the Commonwealth Development Finance Co. Ltd. of which 50p per share is uncalled (New Zealand equivalent $224,175.04).
    (b) In respect of a guarantee of a foreign currency loan the outstanding balance of which amounts to the equivalent of $NZ398,489.85. The New Zealand Government has indemnified the bank in respect of this guarantee.

A. R. LOW, Governor.
R. W. R. WHITE, Deputy Governor.
E. D. VALLANCE, Chief Accountant.

REPORT OF THE AUDITORS TO THE RESERVE BANK OF NEW ZEALAND

We have audited the accounts of the Reserve Bank of New Zealand for the year ended 31 March 1975 and have obtained all the information and explanations we have required. In our opinion the above balance sheet and profit and loss account are properly drawn up so as to give respectively a true and fair view of the state of affairs of the bank as at 31 March 1975, and of its results for the year then ended.

CLARKE, MENZIES & CO.} Chartered Accountants.
HUTCHISON, HULL & CO.

Wellington, N.Z.
15th May, 1975.

BANKRUPTCY NOTICES

In Bankruptcy—Supreme Court

NICK EMERY, of 10 Rickit Street, Taupo, M.O.W. employee, was adjudged bankrupt on 20 August 1975.

T. W. PAIN, Official Assignee.

Hamilton.

In Bankruptcy—Supreme Court

PETER GEORGE MEAD, care of D. Oliver, Rangitoto, R.D. 2, Te Kuiti, unemployed mechanic, was adjudged bankrupt on 19 August 1975.

T. W. PAIN, Official Assignee.

Hamilton.



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✨ LLM interpretation of page content

💰 Reserve Bank of New Zealand Profit and Loss Account

💰 Finance & Revenue
Reserve Bank, Profit and Loss, Financial Year 1975
  • A. R. LOW, Governor
  • R. W. R. WHITE, Deputy Governor
  • E. D. VALLANCE, Chief Accountant

💰 Reserve Bank of New Zealand Profit and Loss Appropriation Account

💰 Finance & Revenue
Reserve Bank, Profit and Loss Appropriation, Financial Year 1975
  • A. R. LOW, Governor
  • R. W. R. WHITE, Deputy Governor
  • E. D. VALLANCE, Chief Accountant

💰 Reserve Bank of New Zealand Balance Sheet

💰 Finance & Revenue
Reserve Bank, Balance Sheet, Financial Year 1975
  • A. R. LOW, Governor
  • R. W. R. WHITE, Deputy Governor
  • E. D. VALLANCE, Chief Accountant

💰 Audit Report for Reserve Bank of New Zealand

💰 Finance & Revenue
15 May 1975
Audit, Reserve Bank, Financial Year 1975
  • CLARKE, MENZIES & CO., Chartered Accountants
  • HUTCHISON, HULL & CO., Chartered Accountants

⚖️ Bankruptcy Notice for Nick Emery

⚖️ Justice & Law Enforcement
Bankruptcy, Supreme Court, Taupo
  • Nick Emery, Adjudged bankrupt

  • T. W. PAIN, Official Assignee

⚖️ Bankruptcy Notice for Peter George Mead

⚖️ Justice & Law Enforcement
Bankruptcy, Supreme Court, Te Kuiti
  • Peter George Mead, Adjudged bankrupt

  • T. W. PAIN, Official Assignee