SAVINGS BANK BUSINESS.

Auckland Star, Volume XL, Issue 43, 19 February 1909, Page 6

SAVINGS BANK BUSINESS.

DEPOSITS AND WITHDRAWALS. (By Telegraph.—Press Association.) AVELLIXGTON, Thursday. The " New Zealand Trade Review," in dealing with the transactions of the Post Office Savings Bank, expresses the view that the favourable terms granted by the Savings Bank are attracting the funds of a class of depositors for whom it was not viz., investors of some means. This class of funds (says the "Review ") .may naturally beattracted by more tempting investments, and thus be withdrawn on a large scale at a time of scarcity. The Government, however, is now obtaining funds from outside the Dominion.

The summary of transactions of the Post Office Savings Bank is extremely interesting. It shows that deposits continue to be made on a full scale, but that at the same time money is now being freely withdrawn from that institution. Local resources" are thus being brought into use to meet the requirements of the community, while the investors are finding more remunerative employment for their funds. The deposits and withdrawals shown in the returns of the Post Office Savings Bank during the two years ended December 31 last compare as follows: — 1907. Excess Deposits. Withdrawals of deposits. £ £ £ March quarter 2.325,090 2,000.250 324.849 .Tune 2,422.441 2,036,541 385,900 September ... 2.3T>7,677 2.070.796 250.881 December 2,246,447 2,011,536 234,911 Totals £9,351.664 £8.125,123 £1,226.541 1908. Excess Deposits. Withdrawals of deposits. £ £ £ March 2.542.15S 2,382.935 159.253 June 2.607,657 2,4-17,707 159,950 -September ... 2.319,607 2,332,140 — December 2,204,622 2.255,038 — Totals £9,674,074 £9,417,820 There was an excess of withdrawals in the September quarter of £ 12,530, and in the December quarter of £50,416, but when set against the increases in March and June quarters, an excess of deposits for the year of £256,254 is shown.