THE PEOPLE'S SAVINGS.

Press, Volume XLIX, Issue 14564, 15 January 1913, Page 3

THE PEOPLE'S SAVINGS.

INTERESTING FIGURES FROM

AUCKLAND.

AN OPTIMISTIC NOTE

, (-FECIAL TO " TITE PRESB.") AUCKLAND, January 13

A Savings Bank authority, speaking to a "Star" representative this morning, remarked that despite keen business on the money market, the financial outlook in Auckland for 1913 -was a rosy one.' Tho money business was'so keen '.jjhab 5 per cent, was quite easily obtainable, where only 3 or 4 per cent, had been offering before. This had naturally had the effect on !tho Savings Bank deposits, but, nevertheless/the position from every point of view was ono which justified an ' optimistic tone when speaking of tho prospects of the new year.

From the Government Savings Bank in Auckland, and from tho Auckland Savings' Bank during the ten days preceding Christmas, withdrawals totalled £139,000,- anel durinjj the three days that the banks were open between tho Christmas and New Year holiday's, another £'53,000 found its way back into tho pockets of depositors. The withdrawals, of course, mainly represented the financial requirements of the people for tiding them over the holiday season, and-when tho number of depositors is taken into consideration, tho amount, though at first sight a large sum, does not represent anything phenomenal. Tho Government Savings Bank, for instance, lias nearly 75,000 depositors in the Auckland district, and the withdrawals from tho 16th to the 23rd totalled £71,000, and during tho remaining four days of tho year on which tho bank was open, the sum taken out was £31,000, making a total for fourteen days of £102,000. The Auckland Savings Bank, on tho other hand, has a total of over 50,000 depositors, and the withdrawals for the same period before Christmas amounted to £68,000, and during the remaining three days or the month on which tho bank was open £22.285. making a total for thirteen days of £90,285. Tho heaviest withdrawals were naturally on the two days preceding Christmas, and at the Auckland Savings Bank depositors on tho 23rd withdrew £9052, and on the 24th £7215. Although tho December returns indicate an excess of withdrawals by £5685, tho figures for the month illustrate the volume of business which now passes through this popular institution, the deposits totalling £133,720, and the withdrawals £139,405. Tho Government Savings Bank figures-show a condition of affairs which is just as satisfactory. On January Ist, _j__, {here were 67,355 accounts open in the Auckland district. By September JJOth last the number had increased to 73,787. A comparison with other centres forms rather interesting material for reflection. The Savings Bank deposits in Auckland far exceeded those of Wellington, Christchurch, or Dunedin, though departmental returns do not indicate such to ho tho case, tho reason being that in other cities the Government has a monopoly of this phase of the banking business, while in Auckland business is almost equally shared with a local institution—tho Auckland Savings Bank. Even so, however, th© Government Savings Bank business at Auckland exceeds that at all other centres except Wellington, and in the case of the latter district, Auckland is progressing more rapidly in the developing of the business done.'