The sum of Fifteen Thousand Pounds sterling has been invested under the Warrant of His Excellency the Governor, in the public funds in England, through the Commissariat Department, by arrangements made through the Lords Commissioners of Her Majesty’s Treasury.

HENRY ST. HILL,
Acting Manager.

Amount of the Notes in circulation at the Office of the Colonial Bank of Issue, at Auckland, on the 7th day of January, 1854.

Amount of Notes in Circulation on the 7th day of January, 1854, being the close of the preceding four weeks, viz.:
£5 and upwards .......................... £4,610
Under £5 ................................ 2,521

Total ................................ £7,131

Total amount of Coin held by the same Office on the same day:
Gold .................................. £5,362
Silver ................................. 139

Total ................................ £5,501

I, Alexander Shepherd, the Colonial Treasurer, do hereby certify that the above is a true account, as required by the Ordinance, No. 16, Session 8.

Alex. Shepherd,
Colonial Treasurer.

Dated at Auckland, this 20th day of January, 1854.

ANNUAL REPORT
OF THE
WELLINGTON SAVINGS’ BANK.

The Superintending Committee in again, and for the last time, meeting the Managers of the Wellington Savings’ Bank, take leave to say, that they do not so much feel that they are surrendering the trust which has been committed to them for nearly eight years, as that they have accomplished one object at which they have been aiming from their first appointment, in obtaining, at length, the sanction and protection of legislative enactment. The Committee were always of opinion that the Depositors ought to have the safeguard of a legal constitution, and that the Bank was also entitled to that which would give it a place among the recognized institutions of the country. With this view the Committee gave considerable attention during the years 1846-7, to the drawing up of a code of rules which might form the basis of an Ordinance; but as when the Ordinance was passed, it was found to contain several very objectionable clauses, the Committee preferred to remain without the advantages it might have conferred, rather than be compelled to carry out arrangements which they deemed inconsistent with the character of the Bank, and detrimental to its interests, but now that an Act has been passed by the Local Legislature which meets the requirements of the case, the Committee have the greatest pleasure in handing over to their successors an institution which has prospered beyond their expectations or hopes.

As this must be regarded as the final report of the Superintending Committee, they trust that they shall be pardoned for indulging in a brief retrospect of their proceedings, even though they should repeat some points which may have been adverted to in previous reports. This Bank was formed at a meeting held in Barrett’s Hotel, on Friday, the 8th of May, 1846, and it may be interesting to state that at that meeting, Colonel Wakefield presided, the business was introduced by Mr. Alexander M’Donald, and the various resolutions were moved and seconded by Messrs. St. Hill, Wade, Dr. Featherston, Petre, Rhodes, Ross, Moore, Revans, Loxley, Clifford, and Brandon. In the first month deposits to the amount of £235 6s. 8d. were received, and from that period the amount of deposits has gone on increasing almost uninterruptedly, as the following table will show:

At the end of the year:
1846 the deposits were .. £ 899 11 10
1847 ........................ 1224 4 6
1848 ........................ 1420 7 11
1849 ........................ 2008 16 9
1850 ........................ 1910 16 6
1851 ........................ 2463 8 10
1852 ........................ 2204 3 2
1853 ........................ 4042 3 3

One of the earliest operations of the Bank, and one which the Committee believe to have been beneficial not only to the Bank but to the community, was to buy up to the extent of their funds the then greatly depreciated Government Debentures, and as their increasing means enabled the Committee to hold until the debentures were funded, and subsequently until those funded debentures had fully reached to par, a sum of three hundred pounds profit was thus made, which the Committee have laid by to build at some future time an office for the Bank.

When the debentures of Captain Fitzroy were exchanged for those issued by the Government of Sir George Grey, the Committee claimed interest for the fractional parts of years during which they had been current, and detailed statements of every debenture, with the interest due thereon, were drawn up and submitted to the Government, showing that the difference between the interest due and that allowed was £53 5s. 8d.