AMERICA'S PROSPERITY

New Zealand Herald, Volume LXIII, Issue 19485, 15 November 1926, Page 13

AMERICA'S PROSPERITY

YEAR'S RECORD FIGURES. INCREASE IN BANK DEPOSITS. Australian and N.Z. Cable Association. (Becd. 5.5 n.m.) WASHINGTON. Nov. IS, The Treasury officials say that 1926 will prove to be the most prosperous year in the history of the United States. The total deposits with 28.000 banks amount to £9,760,000,000, which is an increase of £400,000,000 over 1925. The deposits at call total £3,760,000.000. The majority of the fixed deposits are individual accounts. Such savings have increased by £800,000,000. It is expected that the Christmas season will be one of the greatest buying holidays on record. The banks will pay Christmas savings amounting to £200,000,000 early in December. It is i estimated that an additional £100,000,000 | will be spent by the public. It is expected that the charity contributions will amount to several million dollars. An official states that every business, with the exception of agriculture in some sections, has experienced great prosperity. : A record for interest accruing on savings accounts has been established. A sum of £160,000,000 will be paid to the public. It is predicted that the prosperity of the cycle business, which has had a sound, progressive year this year, will be continued in 1927.