THRIFTY AUCKLANDERS.

Auckland Star, Volume LVII, Issue 305, 24 December 1926, Page 8

THRIFTY AUCKLANDERS.

MONEY SAVED FOR XMAS HOLIDAY RUSH OF BUSINESS. WITHDRAWALS FROM THE BANKS. There is no lack of indications that point to the prevalence of a cheerful spirit in Auckland at the prospect of Christmas and the holidays. In regard to saving and spending, the people have shown a strong disposition to be thrifty, but discriminating buyers are expected to be particularly active this Christmae Eve, and have put themselves in readiness by making generous withdrawals from the banks. All through the week, the banke of Auckland have been experiencing a heavy outflow of withdrawals, and, if the final returns to-night show that the business of the pact few days has been continued until the closing hours, the week will have been the busiest for some years. A banking official said this morning that cash was coming in freely from the merchants He suggested that this might have been a reflection of the better prices for butter and a more buoyant spirit among the farming community. November and December were the peak months for butter and the November payments had been made only this week. Apparently the money had hjen dietributed quickly to settle accounts with country storekeepers, who were atale to pay their merchants, and the cash finally found its way to tb; banks where it was distributed again for wages and holiday expenses. Spirit of Speculation. "Those folk are getting money for the tote," remarked a bank' official as he passed a queue of people at one of the withdrawal counters; but there were many who appeared to be more concerned about the prospects of a holiday journey than a visit to the races. Men and women of all ages were about their business in real earnest to-day, and the children were there, too, family groups making their final arrangements. At the savings banks, the reports were ' rather different from those at the large commercial banks. In spite of the idea that depression existed, however, both the Post Office Savings Bank and the Auck- ■ land Savings Bank found that business was being well maintained in comparison with last year. Since Monday, the withdrawals have been heavy but there has also been marked increase in deposits. !At the Post Office Savings Bank, it was noticed that there had been no rush of business, as generally expected at this season, but a continuous stream of customers, which had gradually increased since the beginning of the week. The Auckland Savings Bank reported that deposits began to exceed withdrawals since yesterday and were expected to be in excess until after the New Year. Shortage of Silver. For some unaccountable reason there is reported to be a shortage of silver in I Auckland, and the banks have not been J able to overtake the position, although ' they have been bringing in silver from overseas and also from the south. The shortage has existed for the pact six months, and large silver, especially halfcrowns, is reported to be most affected. Some important developments have taken place in regard to savings bank business in Auckland during the twelve months. For example, school banks have been established at thirty primary schools and 3326 depositors have had their first lessons in being thrifty. The credit balances for ihe schools total £1552. "That ie a remarkably good start/ , said an official, "and it is hoped greatly to extend the work during the coming year. Withdrawals by the children have been I negligible, while the average weekly deposits amount to 1/8. A day a week is set aside at the schools as collection day. The teachers enter the deposits in the pass books, and the money collected is called for by .- bank officer. The system gives opportunity for enthusiasm on the part of parents and,teachers, and is one with great possibilities in the encouragement of thrift among the members of the younger generation." Savings by Workers. Thrift clubs mark another part of banking activity, which has been much developed. Some 50 factories and workrooms in Auckland are now conducting thrift clubs, which enable any employee to make weekly deposits directly at the establishments. The result is considered to be most promising, and the young people speak very highly of the facilities thus afforded them. Some of the depositors have accumulated sums of up ,to £30 by instalments on small amounts each week, and they admit that the savings would otherwise have been non-existent. Much praise is due to the collectors, who I have been chosen from among the workers j themselves. Their enthusiasm has been I largely responsible for the success of the ; scheme. J Taking the whole year in review, the Auckland Savings Bank reports that deposits have exceeded withdrawals, the deposits now being in excess of 4+ millions, and the excess over withdrawals during 1926 is f 150,000. As the bank has 115,000 depositors, this is regarded as a good indication of the position in Auckland.