i3° 



The Review of Reviews. 



June 1, liOS. 



THE BANK OF AUSTRALASIA. 



(INCORPORATED BY ROYAL CHARTER. 1835.) 



Paia-up Capital £1.600,000 



Reserve Pimd 1,250,000 



(Of which £500,000 is iuvested in 24 per ceut. Consols at 85, the remainder being used 

 in the business of the bank.) 

 Reserve Liability of Proprietoig under the Charter 1,600.000 



£4,450,000 



SEVKNTY-SECOXD ANNUAL REPORT of the DIRECTORS of the BANK OF AUSIKALASIA. 

 With the Accounts for the Half-vear to 16th October. 1905. 

 Presented to the Proprietors at tlie ANNUAL GENERAL MEBriNG. held ou THURSDAY', 29th MARCH. 1906. 



At One o'clock. 

 REPORT. 

 The Directors submit to the Proprietors the Balance-sheet as at 16th October last, with the Profit Account for 

 the lialf-year to tliat date. After providing for rebate on bills current, for British and Colonial rates and taxes, and 

 for all bad and doubtful debts, the net profit for the iialf-jear amounted to £137.451 6s. 8d. 



To this sum must be added £17,105 18s. lid. brought forward from the previou.^ half-.vear, making a total of 

 £154,555 5s. 7d., out of which the directors have declared a dividend for the half-.vear at the rate of 12 i)er cent, per 

 annum, or £2 8s. per share, Iree of income tax. 



The dividend will absorb £96,000, and the directors have further appropriated £30,000 to the Reserve Fund, and 

 £11.000 in reduction of the cost of bank premises. There will then remain £17,565 5s. 7d. to be carried forward to 

 the next account. 



The dividend will be payable in Loudon and in the colonies on the 50th inst. 



To the office of Superintendent, rendered vacant by the retirement of Mr, John Sawers, the Directors have ap- 

 pointed Mr. Ames Hellicar, who has had long and varied experience in the bank's service, and has the entire 

 confidence of the directors. 



Since the date of the last report the bank has opened new branches at Ballina and Nowra, in New South Wales, 

 and at Hamilton and Whangarei, in New Ze.iland, and has closed its branches at Winton, in Queensland, and Queens- 

 town, in Tasmania. 



W. A. M'ARTBUR, Chairman. 

 4 Threadneedle-street, Loudon, 19tl) Marcli, 19^:6. 



PROFIT ACCOUNL, from APRIL 10. 1905, to OCTOBER 16, 1905, 



Undivided profit, April 10, 1905 £113,103 18 11 



Less: Dividend. October. 1905 



Profit for the half .year to October 16, 1905. after deducting rebate on bills current at 

 balanco date (£8,042 Us. lOd.), and making provision for all bad and doubtful debts ,, 

 Less; 

 Charges of Management — 

 Colonial— 



Salaries and allowances to the colonial staff, including the Superin- 

 tendent's department aud 169 branches and agencies £98,470 5 10 



General expenses, including rent, repairs, stationery, travelling, etc. . . 22,898 18 11 

 London — ' ^ 



Salaries 9,512 6 



General expenses 2,924 8 10 



II 



Rat^s and Taxes- 

 Colonial 



London 



£133,805 14 1 



£12,636 19 2 

 9.810 19 1 



£22.447 18 



£156,253 12 4 



Total amount of unappropriated profit 



From which deduct — 



For transfer to reserve fund 



For reduction in cost of bank premises 



Leaving available for dividend 



£30.000 

 11,000 



96,000 

 £17,103 18 11 



£293,704 19 



£137.451 6 8 

 £154.555 5 7 



41.000 

 £113.555 5 7 



BALANCE-SHEET. OCTOBER 16. 1905- 



Dr. LIABILITIES. 



Circulation £450.854 



Deposits 16,329.565 2 6 



Bills payable and other liabilities 2.319.698 3 4 



Capital £1.600.000 



Reserve fund 1.250.000 



(Of which £500,000 is invested 

 in 2^ per cent. Consols at 85. 

 the remainder being used in 

 the business of the bank.) 

 Profit account ; tindivided bal- 

 ance . 113,553 



£19.100.117 5 10 



2.963.555 5 7 

 £22.063.572 11 5 



ASSETS. 



Specie, bullion and cash balances £3 



Loans at call and at short notice 2, 



British Government securities 



India and colonial Government securities ... 



£7, 

 Bills receivable, advances on securities and 



other assets 14, 



Bank premises in Australia. New Zealand 



and London 



Cr. 



981.667 10 10 

 559.000 

 967.140 12 2 

 175.980 2 10 



,483,788 5 10 

 ,294.303 14 9 

 285.580 10 10 



£22.063.672 11 5 



F. H. BLOGG, Accountant. R- W. JKANS. Manager. 



We have examined the cash and securities in London, and the London books, and have verified the transfers 

 from the several branches in the Commonwealth and New Zealand, and we t)eg to report that, in our opinion, the 

 foregoing is a full and fair balance-sheet of the bank, and that it exhibits a true and correct view of the state of 

 the bank's affairs as shown by the books. 



London. 13th March. 1906. WELTON. JONES and CO.. Auditors 



