EXTRA EDITION BANK RETURNS

Evening Post, Volume CVII, Issue 87, 11 April 1924, Page 8

EXTRA EDITION BANK RETURNS

THE CORNER TURNED

DEPOSITS IN. .EXCESS OF

ADVANCES.

Returns of the average amount of liabilities and assets of the six banks trading in the Dominion, for the quarter ( ended 31st March, have now been received. The principal figures in the returns, with those for the March quarter of 1923, are as follow :— .

Mar., 1921 Mar., 1923. £ ' £ Government deposit's .. 4 600.258 5,193,822 Free deposits ■. 28,13^,161 23,4*5,502 Fixed deposits 18,597,129 17,020,313 Advances ....-....' 42,633,456 40,785,351 Discounts 1,770,004 1,736,220 Note1 circulation 6,000,969 6,632,132 Coin and bullion 7,577,257 7,929,267 The above figures, for the quarter just closed, show an excess of, deposits, fixed and on current account, of ±52,-, bc9,770 over the combined overdrafts mid the total amount representing bills discounted. As compared with the leturns for the first quarter.of 1923, the latest combined deposits are better by £3,567,475. The combined advances and discounts tor the first' quarter of 1924 amount to. £44,403,520, which is more than the corresponding figures for March, 1923, by £1,881,947. So far, the growth of ■iho. advances and discounts together have been substantially exceeded by the funds placed with', the banks on fixed deposit, and on current account. This is a reversal of the experience of the banks for thequarters ended 31st March,. 1921 and 1922, when the excess of advalues over ■ deposits were. £5,290,611 and £6,130,925. . At the "end of the hrst quarter of' 1923, this heavy indebt-' edriess of the public to the banks was turned into a credit of £944,423, but every quarter before" that, back to March, 1921, the advances were greatly in excess of deposits, in fact nearly £9,000,000 at the end. of June' 1921. To-day; the excess of money lodged by the public amounts to £2,625,770 over deposits. .-.■■■' _ All the banks save one show 'increases , in the amounts of fixed 'deposits placed ?' antl the exceP«°n is under £3000 'short. • The current accounts show increases in, the' case of every bank, All but one institution (and that for a very-, small difference) have increased their advances. The relationship between deposits and 'advances >over a series of years. as at the end of every quarter; since 31st December,. 1920, when the stringency beundVf\- Seen set out in Ithe ..table-'here-'

The note circulation and the holdings of metallic reserves :at: the end, of the first quarter of this year; are'about the. same as last year, viz. :— '■. . .

(iuarter. ' Deposits, Excess of hS.Y ' m 1?'» n ! S^»s -i«w June iH l-'^'if- f't 40 '341 5-280 6U* Sept' So ■i!'S? 1|5S' 46.150,934 i 4,767 048* Mar.,. ■ 1923 ■ 43.465.8W M2 521 573 "tu'pL. Jr.ne, 10 23 45,632,950 417H.271 • 3 ot' 6 79+ Sept., 1923 43,033,836 42 826 7*8 1 11^ lost l»ec, !023 '42,830177 46 mWi I'l^l^t Mar., 1924 47,033,290. 4.i,403; 5 20 . 2 629'?70> couift3? eSS. Of. de P°sits'over advances and dis]>osifs? eSS °' advancds and "discounts over de-

. ,'i- - r- .- -Mar.; 1924. Mar;,1923.