HEAVY DEPOSITS

Evening Star, Issue 25301, 9 October 1944, Page 4

HEAVY DEPOSITS

SAVINGS BANKS RETURNS INCREASED TOTALISATOR INVESTMENTS Deposits with the savings banks (Post Office and trustee) were again on a heavy scale during July, states the monthly Government ' Abstract of Statistics.' The aggregate of these deposits for the three months ended in July was £17,951,036, an increase of 26.7' per cent, as compared with the similar priod of 1943. Deposits in these banks during July totalled £5,912,251, as compared with £5,643,103 in June and £4,839,791 in July of 1943. The July, 1944, figure has been exceeded on only one occasion, in May, 1944, when the combined deposits amounted to £6,396,145. 'Withdrawals during July totalled £3,963,642, comparative figures for June and for July of last year being £3,778,510 and £5.577,195 respectively .-The high figure of withdrawals in July, 1943,. was the result of investments in the Third Liberty Loan. Deposits with the trading banks recorded moderate increases in July, the average on current accounts (£85,936,874) being £942,607 above the June average, while fixed deposits at £33,034,460 showed an increase of £289,683. Compared with July, 1943, there have been increases of £15,622.107 .and £2,344,466 for deposits on current accounts and fixed deposits respectively. It should be noted" that deposits on current, accounts suffered a substantial reduction in July of last year owing to subscriptions to the Third Liberty Loan, and, with the advent of the Victory Loan, which opened on August 28„ a recession in this regard may be expected in due course. - Incidentally. B deposits on current account reached their highest average to date in July, the previous peak having been recorded in February of .this year. The July average of fixed deposits is the highest since June, 1940. In the racing year ended July 31, 1944, totalisator investments' amounted to £10,279,036, an increase of £1.614,371 (18.6 per cent.) as compared with 1942-43. The increase was achieved despite the fact that from the end of January, 1944, the transport of horses by train was prohibited and transport ■by road vehicles was limited to 30 miles. In no special travel facilities such as special trains, etc., was provided for race-goers during that period.