INDUSTRIAL SAVINGS.

Auckland Star, Volume XXI, Issue 32, 8 February 1890, Page 4

INDUSTRIAL SAVINGS.

The Auckland Savings Bank continues to hold its place as the chief repository of the savings of the industrial classes in Auckland. Its annual balance sheet, placed before the public in a very lucid form, appears on our third pago to-day; and it shows that ab the close of 1889, the total amount of savings deposited in the Auckland Savings Bank is £488,521. It is interesting to note thab £49,195 of bhis total is owned by depositors of £20 and under;'£64,Bßs by depositors between £20 and £50; and £259,402 in sums exceeding £100. The work of the institution continues to be progressive, for the number of depositors at the close of the year was 1,003 greater than at the end of 1888. There are now 14,545 depositors in this bank, a total >hich bears a most encouraging proportion to the population of the city. It is that although the increase in tho deposits is considerably less than that which occurred in 1888, the increase in the number of depositors was very much greater, an indication that the accretion is due to the coming in of small deposits. This, we take it, is a very healthy sign. The Penny Bank also gives evidence of increasing popularity. The Bank has paid its depositors £21,488 upon the year's operations and carries forward a substantial balance. A word of commendation is due to the trustees and to Mr R. Cameron, the manager, and the other officers of the institution, for the care and judgment displayed in the management of the bank s affairs which was necessary to the attainment of. these most encouraging results.