LARGER DEPOSITS.

Auckland Star, Volume LXIV, Issue 98, 28 April 1933, Page 8

LARGER DEPOSITS.

SAVINGS BANK.

LOAN APPLICATIONS.

CHAIRMAN GIVES DETAILS.

Details of the business of the Auckland Savings. Bank for the year ended March 31 last wqre given by the president, Mr. H. E. Vaile, at the annual meeting of trustees this afternoon. Deposits received during the year, he said, amounted to £3,634,875, compared with £4,015,750 for the previous year; withdrawals totalled £3,721,151, as against £3 957 207; interest credited to depositors accounts amounted to £251,130 compared with £281,207, and averaged £2 4/10 tor each operative account, as against tz 11/ in the previous year. The amount standing to the credit oi depositors was £6,922,892, as against £6,758,038 in the previous year, an increase of £164,854. New accounts opened durino- the year numbered 18,210, as against 19,587 for the previous year, the schools' bank department accounting for °063 A total of 14,511 accounts were closed, excluding 8400 transferred to the Government under the Unclaimed Moneys Act. Accounts remaining open were accordingly decreased by 4696 to 103,903, as against 158,599 last year. They were classified as follows: — 1932. 1933. Under £20 .... 280f371 302,804 £ £ 2 50 aDd 441,754 > 429.440 Be , t ,nde? lfo0 aDd 761,563 754,450 Be ,S and 940.360 947.921 B6 unde? SMo"? 1,016.083 1,065,161 £200 and over . • 3,257,802 3,365,114 Totnl operative cot no c &H4 RQO accounts ...# 6,697,042 6,864,0JU Mr. Vaile said the general average for each operative account was £63 6/3, against £62 16/4 for 1932. There were doee on 1,000,000 transactions of depositors during the year. Mortgage Applications. During the year 380 applications were dealt with for loans. Of that number, 125 were decline's for various reasons, 213 granted in full, and 42 accepted for lesser amounts. The advances totalled £144,655, compared with £194,285 for 1932, and repayments amounted to £53,280, compared with £72,434. The popularity of the easy repaynient terms was evidenced by the following classification: — £20 and under, 850; between £20 and £50, 182; between £50 and £100, 69; over £100, 84. • The latter included 48 mortgages fully repaid. The net increase iri the number of mortgage accounts for the year was 151, and the total now held was 4332. The average amount of city and suburban loans was £676, as against £689 for the previous year, and that on farm securities £2070 ( £2204). Interest payments numbered 18,652. Last year there were 16,946. Debentures. Advances under the heading, "debentures," totalled £60,775, as against £136,894 for 1932. The sum of £14,188 was repaid. Debentures were shown at the total cost price of £3,245,871, compared with the 1932 figure of £3,199,234. The actual face value, however, was £3,251,169, which would be increased by £21,500 odd by the conversion, of Government stock, and constitute firstclass investments.