26 NOVEMBER THE NEW ZEALAND GAZETTE 3613

of making or of the form of validity of the classification as a whole may be made to the administrative division of the High Court only.

(g) The classification had been made by Mr A. G. McKenzie.

(h) Copies of the instructions given by the Board to the classifier and of the resolutions of the board relative to the classification may be inspected at the Hawke's Bay Catchment Board Offices, 16 Vautier Street, Napier, during the period specified in paragraph (d) of this notice.

SCHEDULE

ALL that land in the Hawke's Bay Land District containing approximately 810 hectares, being the majority of the land which benefits from the Haumoana Flood Control and Drainage Improvement Scheme in the County of Hawke's Bay. The area is bounded in the west and north by the Tuki Tuki River, in the north-east by Hawke Bay and in the south-east by coastal hill country and includes the Haumoana residential area. It is more particularly shown on the Hawke's Bay Catchment Board Plan 1702, and described in the Schedule attached to the classification report.

K. E. FOOTE, Secretary to the Hawke's Bay Catchment Board.

NEW ZEALAND WOOL BOARD

PURSUANT to regulation 15 of the Wool Industry Regulations 1978, notice is hereby given that the Adjusted Weighted Average Sale Price for the sale held on 19/11/81 at Dunedin was 261.47 cents per kilogram (greasy basis).

As this price is below the Government's supplementary minimum wool price of 320 cents per kilogram (greasy basis) the specified percentage for supplementation will be 22.4 per cent for all wool sold at auction and nationally for privately sold wool from and including the 19th day of November 1981 until midnight on the day before the next auction sale to be held.

Dated this 23rd day of November 1981.

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

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NEW ZEALAND WOOL BOARD

PURSUANT to regulation 15 of the Wool Industry Regulations 1978, notice is hereby given that the Adjusted Weighted Average Sale Price for the sale held on 20/11/81 at Napier was 257.26 cents per kilogram (greasy basis).

As this price is below the Government's supplementary minimum wool price of 320 cents per kilogram (greasy basis) the specified percentage for supplementation will be 24.4 per cent for all wool sold at auction and nationally for privately sold wool from and including the 20th day of November 1981 until midnight on the day before the next auction sale to be held.

Dated this 23rd day of November 1981.

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

THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LTD.

FINANCIAL ACCOUNTS

FOR YEAR ENDING 30th JUNE, 1981

BALANCE SHEET AS AT 30 JUNE 1981

(Expressed in New Zealand Currency)

1980 1981
$NZ $NZ

500,000 Authorised Capital—
250,000 Ordinary Shares at $2 each.. 500,000

500,000 Issued and Fully Paid up Capital—
250,000 Ordinary Shares at $2 each.. 500,000

1,200,000 Revenue Reserves—
1,322,032 Profit and Loss Account .. 1,644,717

2,522,032 Total Shareholders Funds .. 3,144,717

3,022,032 Current Liabilities and Provisions—
Depositors' balance .. 34,695,751
31,452,381 Ordinary Accounts .. 350,519
361,405 Thirft Accounts .. 67,205
53,583 Home Lay-By Accounts .. 28,480,928
18,868,391 Investment Accounts .. 12,038,251
16,288,574 Term Deposit Accounts ..

67,024,334 75,632,654

1,660,787 Other liabilities including deferred
165,189 taxation $246,373 (1980 $154,263)
and accrued interest on depositors
Balances .. 2,076,755

68,850,310 Provision for Income Tax .. ————
77,709,409

$71,872,342 Deposits Guaranteed by The Commercial Bank of Australia Ltd.
$81,354,126

1980 1981
$NZ $NZ

4,188,766 Deposits—
with The Commercial Bank of Australia Ltd.
3,676,866

4,371,000 Investments—
New Zealand Government stock .. 2,247,800
20,369,152 38% Special .. 29,282,764
10,370,000 Other .. 8,010,000
118,158 Treasury bills .. 54,919
32,600 Local authority securities ..
Other investments (at cost) .. 39,595,483

35,260,310 Mortgages and other loans less
provisions for bad and doubtful
debts of $24,230 (1980 $22,230) .. 37,552,719

32,600,605 Other assets including tax refundable
($41,268) and accrued interest on
investments .. 529,058

67,260,915 77,148,202

422,661 $81,354,126

$71,872,342

On behalf of the Board

S. M. KIMPTON Director.

AUDITORS' REPORT

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 1981 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.

G. E. FULLER

R. J. COWLEY, Chartered Accountants.

17 July 1981.

Wellington, New Zealand.

THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LIMITED

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 1981

(Expressed in New Zealand Currency)

1980 1981
$NZ $NZ

4,216,676 Interest to Depositors .. 5,203,161
1,373,000 Management and Operating Expenses .. 1,602,000
423,978 Provision for Income Tax .. 622,685
516,196 Net Profit for the year .. $7,938,951

$6,531,850 Transfer to General Reserve .. 300,000
Balance carried forward .. 1,644,717

$1,522,032 $1,944,717

1980 1981
$NZ $NZ

2,761,772 Income from—
New Zealand Government Stock Treasury Bills and
Local Authority Securities .. 3,516,591
3,767,803 Other Investments .. 4,421,960
2,275 Other Sources .. 400

$6,531,850 $7,938,951

1,005,836 Balance brought forward from previous year .. 1,322,032
516,196 Net Profit for the year as above .. 622,685

$1,522,032 $1,944,717

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 annually 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 undertaken in the normal course of business.

As at 30 June 1981.

Book Value Market Value
$39,595,483 $36,975,692

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