3360
THE NEW ZEALAND GAZETTE
No. 133

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED
30 JUNE 1980
(Expressed in New Zealand Currency)

1980 1979
$NZ $NZ
Interest to depositors .. 4,216,676 3,093,807
Management and operating expenses .. 1,375,000 862,000
Provision for income tax .. 423,978 341,676
Net profit for the year .. 516,196 415,603

                      6,531,850   4,713,086

Transfer to general reserve .. 200,000 150,000
Balance carried forward .. 1,322,032 1,005,836

                      1,522,032   1,155,836

Income from—
New Zealand Government stock 2,761,772 1,956,058
Treasury bills and Local Authority
securities .. 3,767,803 2,756,055
Other investments .. 2,275 973

                      6,531,850   4,713,086

Balance brought forward from previous
year .. 1,005,836 740,233
Net profit for the year as above .. 516,196 415,603

                      1,522,032   1,155,836

AUDITORS’ REPORT
TO THE MEMBERS OF THE COMMERCIAL BANK SAVINGS BANK
(N.Z.) LIMITED

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.) Limited, at 30 June 1980,
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, given in the prescribed
manner the information required by the Companies Act 1955.

G. E. FULLER \ Chartered Accountants,
R. J. COWLEY

23 July 1980, Wellington, New Zealand.

NOTES TO THE ACCOUNTS
Statement of Accounting Policies

1. (a) Amortisation of Public Securities—Book values of New
   Zealand Government and Local Authority Securities which were
   purchased at a discount or a premium, are being amortised annu-
   ally so as to attain their redemption values by maturity date.

   (b) Profits and Losses on Realisation of Public Securities—The
   difference between book value and proceeds on realisation of New
   Zealand Government and Local Authority Securities is taken to
   profit and loss account in equal annual instalments over a period of
   3 years commencing with the year in which they arise.

2. Investments—The New Zealand Government and Local
   Authority securities 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 take place at prices below book
   values, it is the opinion of the directors that existing reserves are
   sufficient to cover any losses that are likely to arise on sales under-
   taken in the normal course of business.

Book Value Market Value
$35,260,310 $31,903,239

As at 30 June 1980.

3030

NEW ZEALAND WOOL BOARD

PURSUANT to regulation 15 of the Wool Industry Regulations
1978, notice is hereby given that the Adjusted Weighted Aver-
age Sale Price for the sale held on 7 November 1980 at
Wellington/Wanganui was 249.49 cents per kilogram (greasy
basis).

As this price is above the Government’s supplementary
minimum wool price of 235 cents per kilogram (greasy basis)
no supplement is payable on wool until further notice.

There is likewise no grower retention levy payable in terms
of section 42 of the Wool Industry Act 1977, as the A.W.A.S.P.
is less than the ruling trigger price of 330 cents per kilogram
(greasy basis).

Dated at Wellington this 11th day of November 1980.

A. J. N. ARTHUR, Levies Administration Manager.

3879

GENERAL PUBLICATIONS

SHADOW OF THE LAND
By Ian Wards

422 p. 1968.

The title for this book was provided by Nopera Panakarero,
a Kaitaia chief of much influence, who, in May 1840, believed
that only the “shadow of the land” had gone to Queen
Victoria whilst the substance remained with the Maoris.
Less than a year later he revised this opinion convinced that
only the “shadow” would be the Maori portion.

The author examines the British acquisition of New
Zealand, the Maoris, trust in the Treaty of Waitangi, and
their confidence that its terms would be honoured and
explains it was only by accident that the Maoris were
guaranteed the possession of their lands and ancient privi-
leges.

It is under these circumstances that the book considers the
use of military force in New Zealand, analyses the arguments
surrounding the provision of troops and concludes that,
beyond any reasonable doubt that there was never an attempt
to govern by “moral suasion”.

New Zealand followed the normal nineteenth century
British pattern of territorial acquisition.

The book is an essential introduction to the Maori wars
of a later date.

CONTENTS

ADVERTISEMENTS .... .... .... .... 3348
APPOINTMENTS .... .... .... .... 3316
BANKRUPTCY NOTICES .... .... .... .... 3346
LAND TRANSFER ACT: NOTICES .... .... .... .... 3347

MISCELLANEOUS—
Bobby Calf Marketing Regulations: Notice .... .... .... 3334
Broadcasting Act: Notices .... .... .... .... 3333
Corrigendum .... .... .... .... 3313
Customs Tariff: Notices .... .... .... .... 3337
Disabled Persons Employment Promotion Act: Notice .... 3323
Education Act: Notice .... .... .... .... 3323
Electricity Act: Notice .... .... .... .... 3323
Food and Drug Act: Notices .... .... .... .... 3324
Gaming and Lotteries Act: Notice .... .... .... .... 3322
Harbours Act: Notice .... .... .... .... 3322
Heavy Motor Vehicle Regulations: Notice .... .... .... 3332
Import Control Regulations: Notices .... .... .... .... 3325
Insurance Companies Deposits Act: Notice .... .... .... 3335
Land Act: Notices .... .... .... .... 3322, 3330
Local Authorities Loans Act: Notices .... .... .... 3335
Local Government Act: Notices .... .... .... .... 3330
Oaths and Declarations Act: Notice .... .... .... .... 3324
Post Office Act: Notice .... .... .... .... 3324
Public Works Act: Notices .... .... .... .... 3317
Queen Elizabeth II Arts Council: Notices .... .... .... 3333
Regulations Act: Notice .... .... .... .... 3336
Reserves Act: Notices .... .... .... .... 3322, 3326
Sale of Liquor Act: Notices .... .... .... .... 3332
Schedule of Contracts: Notices .... .... .... .... 3336, 3340, 3345
Traffic Regulations: Notices .... .... .... .... 3332

PROCLAMATIONS, ORDERS IN COUNCIL, AND WARRANTS .... 3313

Price $1.25c
BY AUTHORITY: P. D. HASSELBERG, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1980