DECREASES SHOWN

Auckland Star, Volume LXXII, Issue 180, 1 August 1941, Page 8

DECREASES SHOWN

ADVANCES, DEPOSITS

TRADING BANKS' RETURN

(0.C.) WELLINGTON, Thursday. The fall of £1,066,840 in the level of free deposits is the first considerable movement since the end of March, according to the monthly statement of assets and liabilities of the six trading banks at the close of business on Monday, June 30, gazetted to-day. By showing a reduction of £1,157.700 on the total at the end of the previous month. advances continue a movement that has gone on since October. The main items, with a comparison of the figures on May 26, are:— June May Circulation £17,814,461 £17.327.139 Free deposits i>2.552.000 53.618.892 Fixed deposits 29.040.479 28.762.047 Advances 50.218,638 51.3761361 London assets 10.022.408 10,891,341 Note Circulation Notes of the Reserve Bank held as till money on June 30 were valued at £4.028,626, compared with £4,454,883 a month before. The issue at the end of June was £21,843.087, making the active circulation £17,814,461. The issue and circulation at the end of June in the past five years have been:— •J" ne Issue Circulation '937 £ 12.630.838 £ 8,658.850 '938 13.774.724 9.524.276 J939 15.467.281 11.531.486 '5*9 18,616.87:: 14,699,115 '9« 21.843,087 17.814,461 Though advances are £2.762.000 above the level at the corresponding date last year, the figure is substantially below those in 1938 and 1939. Total deposits and advances for the June returns since 1937 have been as follows:— Deposits Advances Excess '"7 69.000,502 47,710.899 21 289 603 938 66.170.710 54.885.803 11.284 907 ■939 66.702.416 55.090.252 11612 164 »♦? 80.500.077 47.456.600 33.043.477 1941 81,592,529 50.2J8.638 31.373:891 Overseas Assets Fluctuations in the value of assets held abroad on account of New Zealand business at the end of June in the past five years are shown m the following table:— June London Elsewhere Total |S ::::::: 'iSMg SSfcffi \\Aun 1941 10,022.408 2.511M0 ia.llliil Overseas liabilities on Now Zealand account totalled £1.788 101 in y? e sso"£S st t at fment. compared with £1.88f)..-M2 at the end of May Subsidiary coin was valued nt £770,059, against £7G5,609 in the May '