SAVINGS BANK DEPOSITS

Press, Volume LXXXIV, Issue 25550, 19 July 1948, Page 8

SAVINGS BANK DEPOSITS

RECORD FIGURES FOR AUSTRALIA Savings Bank deposits ta Australia M the end of May were at an- all-time pert of £669,100,000. Increases In all StqM during the month aggregated £1,200M Victoria leading with £541,000, followed by New South Wales with £247.000, ani South Australia with £184,000. In the first five months of 1948 deports increased by £7,200,000, ’ and were £18,800,000 more than on May 31, IML Deposits now approach three times ths total just before the war, having increased by £424,200,000 from £244,800,000 in Au. gust, 1939. Savings per head of population In Mar were £B7 Ils Bd, compared with £35 % Bd'when the war began. Value of saving certificates showed an increase of £489,000 In May, the net amount outstanding being £64,100,000. Trading Bank Deposits The aggregate deposits of the eight trading banks in Australia, which are given up to the end of April, chiefly m a result of a heavy flow of overseas income for exports, reached a new high level of £710,000,000. This was soma £4,000,000 higher than the average for the previous month and approximately £50,000,000 above the average level of deposits in April, 1947. Trading bank advances have remained steady for the lad four months, at approximately £337,000,000. This steadiness is quite usual during the summer months, when any underlying upward trend is masked by the effect of seasonal income upon the primary production section of total advances.

SHEEPSKIN SAI.E The offering •at a sheepskin sale held last week comprised 20,500 skins. Compared with previous sales, prices were slightly higher. The range of prices Was: Sound 2nd and D,

and Super. and D. Halfbred— d. d. d. d. Three-quarter to full wool 21 to 211 15j to Quarter to half ■ wool 141 to 20J si to is; Crossbred— Three-quarter to full wool 17 to 181 9 to ML Quarter to half wdol 7 to 151 4 .to® Hoggets 17 to 191 13 toW Lambs 19 to 191 12J to 1S Pelts and shearlings 6 to 13J 2it ° i