THE PEOPLE'S SAVINGS
A FINE RECORD AUCKLAND SAVINGS BANK EXPERIENCE (P.A.) WELLINGTON, April 27. " During the war the savings by tho people have been unprecedented and give cause for satisfaction," said Mr Oliver Nicholson, president of the Auckland Savings Bank, in his report at the annual meeting of the bank trustees to-day. He pointed out that the total funds had risen to £17,592,294, an increase during the year of £1,765,934. The gain since the out-break of the war was £7,629,242. ' Mr Nicholson said the gain in depositors' balance of £1,149,941 Was substantial, although not as large as in the two previous years. Deposits at £6,868,489 were only £83,000 less than last year's record amount, but withdrawals had increased by £645,000. This was mainly accounted for by the increased transfers from ordinary savings to National War Savings accounts, especially during the Victory Loan campaign, and by the much heavier withdrawals than usual during the recent, income tax payment period. The number of depositors in all departments of the bank now totalled 246,748, an increase of 10,009 for the year.
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Evening Star, Issue 25470, 28 April 1945, Page 12
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178THE PEOPLE'S SAVINGS Evening Star, Issue 25470, 28 April 1945, Page 12
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