BANKING-BUSINESS

Evening Post, Volume CXII, Issue 9, 10 July 1931, Page 10

BANKING-BUSINESS

THE JUIJE RETURNS

ADVANCES' AND DEPOSITS

• A forecast of the banking position as it would be seen '/.in the average amount of liabilities for thie quarter ended 30th June was given in t}his column on Wednesday, last. The figures giving quarterly returns differ in no particular. They likewise show ;fthat as compared with the returns as at 30th June last year, free deposits have/ contracted by £5,000,000; fixed deposits have expanded by £25,000,000; asud that advances and discounts have heen reduced. Note circulation has fallen off by over £600,000, showing the drastic curtailment in public spending capacity. Governmem|; deposits, almost wholly with the, Baak of New Zealand, compare as follows:—■' ' . • . . 1 June, 1930. June, 1931. ' :■ £ £ " . Govt. deposits ... 5,099,349 3,826,738 The averatge returns of each of the banks for the June-quarter are reported as follows:--' , . '. FREE DEPOSITS. June, 1930. June^ 1931. Bank. ! £ £ New Zealand .. 10,852,131 8,028,475 -Union ... i....... s 2,687,128 2,016,876 N.S. Wales .... 2,508,315 1,908,295 Australasia' 2,293,050 1,749,825 I National j 3,840,354 3,008,047 Commercial .... 1,044,88U 812,044 23,225,864 18,124,162 Beci-easej in total of free deposits for the year, FIXED DEPOSITS. ' June, 1930. June, 1931. Bank. £ £ New ZeaJand .. 15,077,510 16,209,179 Union ........... 3,351,757 3,751,840 N.S. Wales ....' 4,033,076 4,096,449 Australasia .2,797,950 2,954,292 National 4,662*482 5,404,838 Commercial .... - 599,393 628,626 : . 30,522,174 33,045,224 Increase in total of fixed deposits for the year, £2,523,050. . : ADVANCES. ■ - ' ' ' 'June, 1930. June, 1931. Batiki. • • £ £;- '-■" New Zealand .. 23,686,076 24,273,053 | Union : 6,154,965 5,979,909 N.S. Wales .... 6,588,549 6,292,452 Australasia .... 4,838,172 4,903;782 National 9,951,950 Commercial .... 1,654,760 1,501,479 52,874,472 52,499,860 Decrease in advances made by the banks as a whole for June, 1931, as compared with June of last year, £374,612. Notes and bills discounted for the second quarter of 1931 amounted to £895,674, compbred Avith £1,188,690. ' ■ ' Free and fixed deposits for the June quarter, 1931, amounted to a total of £51,169,386, whereas the advances and discounts combined were £53,395,534. /The difference between these two totals is £2,226,148, which is more than the public has.lent to the banks in order to enable the, banks to lend to the public. The difference is provided out. of the: banks' own resources. Note circulation averaged for the past quarter '£5,815,712, compared with £6i433,264 for' the quarter ended 30th June, 1930. Coin and bullion held: by the banks amounted to £6,926,023, against £6,843,567 for the quarter ended 30th June'of last year. :: : \