Untitled

Daily Telegraph (Napier), Issue 5919, 26 August 1890, Page 2

The banking returns in tho Australasian colonies for the June quarter are now published. From them it is easy to see why the interest ou deposits has been reduced. Deposits have increased during tbo past year at a more rapid rate than advances, and there have been largo accumulations of coin and bullion. The deposits havo now reached £110,000,000, of which £29,123,000 do not bear interest. A year ago the total was £103,700,000, aud it is noticeable that of the increase nearly five millions is due to the increaeo in interest bearing deposits. Leaving tho Government deposits out of consideration, for they are nearly stationary, with the exception of Victoria, where a decrease in the Government deposits of two millions is shown, the movements of public deposits by colonies show the following results :—Victoria an increase of £4,100,000, Now South Wales of £2,300,000, New Zealand £1,020,000, South Australia £817,000, while the black sheep of the lot is Queensland, where there is a decrease of £.510,000. The ratio in tho percentage of fixed deposits to the total deposits is still rising The increase in advances for the year totals £3,485,000, the increase by colonies being Victoria £2,003,000, New South Wales £1,302,000, South Australia £536,000, Tasmania .£538,000, while the decreases are New Zealand £120,000, and Queensland £832,000. The increase in the note circulation for the year is only £19,000. The increase in the aggregate banking business for tho year is £9,814,000.