BANKING RETURNS.
FIGURES FOR MARCH QUARTER
MONEY PILING UP IN BANKS
EXCESS OF DEPOSITS £11 1 ;<O.
(!5y Telegraph.—Tres-
WELLINGTuX, this dav
The quarterly returns of the six banks trading in the Dominion five the following results: Government deposits, £2,864,439; free deposits, £2.".,73(5,741; fixed deposits, £29,608,752; advances. £45,175,304; discounts, £1,184.438; circulation, £6,370,892; bullion, £7,262,361.
These figures, showing an excess of deposits over advances of approximately £11,750,000, indicate how surplus funds are piling up in the banks. A marked feature is the steady increase in the proportion of fixed deposits. That they are not invested in industrial or agricultural enterprises indicates that the lack of confidence which followed a period of financial depression has not yet been allayed.
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Bibliographic details
Auckland Star, Volume LX, Issue 85, 11 April 1929, Page 10
Word Count
117BANKING RETURNS. Auckland Star, Volume LX, Issue 85, 11 April 1929, Page 10
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