THE AUCKLAND SAVINGS BANK.

Auckland Star, Volume XXVIII, Issue 13, 16 January 1897, Page 4

THE AUCKLAND SAVINGS BANK.

The balance-sheets iasued yearly by tha Auckland Savings Bank are always certain, a9 they' are deserving, of public notice. From the popular character of the tfans. they mu ßß command, afc least i« o«r city and .üburbs, a much larger number of interested readers than do the financial statements of much ™» I"^°* »'titu^ tions; and we might add thabl bey jr. very often much more sabisfa ctory read ng not bo, but, we think it afiord •«' index of the economy and prospon*y of the wago-earning classes. Reea™!?°ba3 such? it, dtaclo.es a very healthy condition of affairs both as 'e?arJ lt£ patrons and its own management. A't^h the rate of interest paid to depos tore, w considerably lower than it was in the oia days-a fact inevitable.in the universal tall in the price, of money-the popularity of the Bank has not waned, but has increased very materially during the last yoar. fhe Rm oont> of mcney on deposit at the Bank at tha close of thab period was, including interest, greater than it has ever been. JNot odlv io. but that amount represented a larger increase for the twelve months than any of the «»ven previous years can chow. At the close of Decemoer 189a, the amount of deposits including interest was £508,019, while at the close of December, 1896, the amount wus £543,793, or an addition of over £35,000. When wo consider that eince 1890 bbc annual additions have never exceeded £7,000, we can understand the large increase in the Bant s business laefe year—an increase that «c think undoubtedly reflects a greab improvement in trade generally. It 13 to bo expected that with a. larger volume of business, the charges in connection with the Bank Bhould have increased, and they have ; but at the sama" time the surplus profit haß also increased, and now stands higher than it ever did before. With a greater Rmount in the way of deposits for the year than baa ever been chronicled in the history of the Bank there has also been a greater increase in the number of depositors over those of 1895 than has taken place in any previous year. The fipures 3re as follows : Amount deposited in 1896. £399,339,-as against £365 V 627 in 1895 ; increa°e of depos^ora ever previous year, for 1595, 984 ; for IS9S, 1,550; number of depositors at the close of the year 1895, 19,525 ; 18S5, 21,076; number of new accounts opaned during the year 1895, 2,821 ; 1596, 3,417. The interest credited bo depositors during the last yoar was £17,145, and the balance, after withdrawals amounting to £380,705 are deducted, stands at £35,779. Tho last sura represents the clear addition to the savings fund in the Bank's hand?. The reserve of the Bank now stands at £30,000, and thi?, with Ue funds, is invested chiefly in morEgages and Govornmen' securities. The sum of £220,015 is : lent OU" oi? 411 separate mortgages and £150,000 is invested with the New Zealand Government. About £123,000 ia in current accounh with the Bank of &ew Zealand, while £21,000 h on deposit with the same institution and similar amounts with the National Bank and Bank of New South Wales, Theso amount* with a fanother iteesa make up « total of £558,406. Appendix 1 containing an analysis of the' classes of depositors shows that of a total of 21,076 clients, 14,465 aro represented on the bank's books by sums of £20 and under, and the total to their credit U £59,015. Of depositors between £20 and £50 there are 2,466 with funds amounting in all to £80,866. The number of depositors between £.40 and £100 is 1.997 and the amount to their credit £144,527, and the number having upwards of £100 ie 2,148, and they represent the euro of £251.i39. The Penny .Bank, that moat useful institution, continues to progress, ths Dumber of accounts remaining open ftb "he end of last Decami*Qt being 8,224, or Jareer than at any prev *souti fcfme. Tha total gum at credit of deposito"'' on eam P ate was £8,250, and bho num^? of deposits 16.823. The number of accOon^B opened during the year was r.280, the iifc^st figures eince 1888.