LONDON ASSETS RISE.

Auckland Star, Volume LXXI, Issue 152, 28 June 1940, Page 4

LONDON ASSETS RISE.

SIX TRADING BANKS,

STATEMENT FOR MAY.

v FIXED DEPOSITS AGAIN HIGHER. >. (By Telegraph.—Own Correspondent.) WELLINGTON, this day. Rises in the note circulation in the London assets and in fixed deposits are the main features of the monthly returns of tile trading banks at the close of business on Monday, May 27, which have ;been gazetted. The following table gives a >s comparison of the gjincipa! items with t t the return for April 29;— [ e • May. April, is £ £ Circulation 14,166,200 13,051,404 Free deposits 48,071,258 48,1«3,15S , Fixed deposits ... 31,515,477 31,251,210 Advance! 49,550,304 40,540,807 . London assets 12,843,205 11,034,235 9 Free deposits are £91,930 lower, but this is counteracted by a rise of £564,267 in 3 fixed deposits. Note Issue and Circulation. 1 The note issue at the end of May was '■* £17,931,258, making the active circulation - £14,166,206. The issue and circulation at the end of May in the past four years have been:— Issue. Circulation. 3 May. £ £ 4 1937 12,974,500 9,010,071 1938 13,816,733 j,753,941 9 1930 15,572,050 11,505,403 1940 17,951,258 14,100,200 8 l'Vee deposits, or current account bal- ' ances, at £48,071,205, compare with q £37,315,788 at the corresponding date last year, an increase of £10,755,470. Fixed <1 deposits also are, higher, being £31,815,477. it compared with £29,600,307. The total of the two, £79,886,735, is a record since returns in the present form were fiist issued. n Advances are substantially lower at e £49,556,301 than in any .May since 1937. • The excess of deposits, £30,330,431, is the largest for the month since the present' 1 returns began. . Advances and Deposits. g The position of advances and deposits :0 at the end of May in the past five years is shown in the following table:— 7 Excess of 0 Deposits. Advances. Deposits. 8 May. £ £ £ 1930 . 05,258,954 -14,070,706 23,285,15S 1037 . 09,172,910 48,033,104 21,139,755 1938 . 07,344,260 55,307,35S 12,030,878 1939 . 00,910,005 50,128,247 10,757,54S 1940 . 70,580,735 49,550,304 30,330,431 Fluctuations in the value of assets held abroad on account 1 of New Zealand business shown in the May returns since 1938 have been as follows:— London. Elsewhere. Totnli May. £ £ £ 1936 .. 16,700,923 6,158,044 22,555,907 1937 .. 11,857,885 4,983,080 10,840,945 p 1938 .. 8,065,602 3,030,914 11,702,516 . 1939 .. 4.088,444 1,001,280 '.5,730 I" 1940 .. 12,843,205 1,720,329 14,008,534 Overseas liabilities on New Zealand account totalled £3,021,531, against £2,795,079 at the end of April.