AUCKLAND SAVINGS BANK.

Auckland Star, Volume XXXII, Issue 15, 18 January 1901, Page 5

AUCKLAND SAVINGS BANK.

When laying the foundation stone of the Devonport Branch of the Auckland Savings Bank yesterday afternoon, the Vice-President (Mr J. -M. Shera) gave some interesting particulars regarding the progress made by the bank. He mentioned that the institution was founded in 1547. It was in 1846 that a number of gentlemen met at the office of -Messrs Brown find Campbell for the purpose of founding the bank. All these had passed away with the exception of Dr. J. L. Campbell, whom he was pleased to see present that day. (Applause.) Dr. Campbell, Mr James Dilworth, and Mr ,1. ,1. Montefiore became hou. accountants for six months, and the bank was opened on 3th of June, 1847, but it was not until 19th of June that the first deposit was made by Mr Matthew Fleming, who entrusted the hon. ae>countants with £ 10. Now, there were 36,345 depositors, who had entrusted the bank with £705,014 1/5. (Applause.) At the end of 1547 there were only 19 depositors with £176 4/6 to their credit. Ten years later there were 254 with deposits amounting to £6749 8/7. In 1884 there were 10,000 depositors, with £264,516 7/7 entrusted to the bank, and a surplus profit of £32,875 18/9. On December 31st last he estimated that the population of the district QfsAuckland would tot up to about 170,000, exclusive of natives; there were, including the penny savings bank, 36,343 depositors, with £705,014 1/5 at their credit, and the profit had accumulated to £55,673 1/9. He might also say that the bank had not a single mortgagor's property in its possession, a fact which showed the good judgment with which the money had been advanced. He had mentioned three gentlemen who had been honorary accountants for some six months in 1847. Well, from that day to the present not a single trustee, and they now numbered 20, had received one single, shilling by way of fee oi- remuneration for hisl services to the bank. (Applause.) Personally, he considered a portion of the accumulated profits might be used to endow a college fpr technical education, but- it would be necessary to obtain the consent of the Legislature.

Dr. Campbell said that when, after waiting all those days, the first deposit of .£lO was received, after the gentleman had retired, the hon. accountants jumped up. made a great noise, and shouted, "The bank exists." He was .very pleased to be present at the birth of their youngest child, and wished thp new bank every success.

■Mr J. J. Macky. Mayor of Devonport, also made a few remarks, in the course of which he expressed the opinion that in a few years the "vounsrest child" of the Auckland Savings aßnk would not, be the smallest.