CHRISTMAS TRADING

Dominion, Volume 21, Issue 82, 5 January 1928, Page 8

CHRISTMAS TRADING

AUCKLAND’S EXPERIENCE

STEADY BUT NOT EXCEPTIONAL

Dominion Special Service.. Auckland, January 4. The banks of Auckland experienced a big rush of business just prior to the Christmas holidays. On reopening this morning, after the New Year vacation, their counters were thronged. There were indications that, so far as shops and commercial houses are concerned, the festive season has been a profitable one. Some of the batiks report thqt business has been steady, but that returns do not indicate ■ anything exceptional for this period of the year. One manager expressed surprise at _ the fact that there was so much activity in banking. In view of the very difficult year which Aucklanders have experienced, the bankers conclude that the majority of business people had a prosperous Christmas and New Year —every bit as good as that of 1926, yet not up to the exceptionally prosperous standard set in 1923. The Auckland Savings Bank has experienced a large share of holiday rush deposits. In December they totalled £370,469, as compared with £372,761 for December, 1926, a decrease of £2292. Withdrawals in December, .1927, amounted to £405,975, an increase of £3602 in withdrawals as compared with the corresponding month in 1926. The excess of withdrawals over deposits this December showed a decrease of £35,506. That many Aucklanders have been thrifty during a difficult year is indicated by the fact that deposits with the Auckland Savings Bank amounted to £3,882,747. During the preceding year deposits totalled £3,888,916. Nor was the difference ih withdrawals so very large. During 1927 the sum of £3,754,011 was withdrawn, whereas in the preceding year "they were £3,753.127. Thus in 1927 there was excess of deposits over withdrawals of £128,736. In the pre- ■ ceding vear the excess was slightly greater,’£l3s,7B9. Auqklanders who put their monev in the Auckland Savings Bank have been less thrifty during the past twelve months than thev were in 1926, but to an extent which is not verv appreciable. In point of fact thev have saved (apart from interest) about £5600 less than they did in the preceding year, which was by comparison a vear ■without any special difficulties, whereas 1927 was a trying time for most people.