RECORDS BROKEN

Gisborne Herald, Volume LXXV, Issue 22624, 29 April 1948, Page 6

RECORDS BROKEN

NATIONAL SAVINGS £203,747 IN YEAR DISTRICT’S GOOD RECORD The importance of investing any spare capital in an effort to help stabilise (lie economy of the Dominion and thus stay inflation was stressed at Tuesday’s meeting of the Gisborne National Savings Com mittee, members were emphatic that the sums invested in national savings during the past year had assisted materially towards this end. Present at the meeting were Messrs. M. J White, chairman. J. H. Hall, R. S. Maloney, H. C. Haines, M. J. Me Artney, A. O Martin, chief postmaster and A. T. Yarrall, district organiser. The committee heard with interest a report on district national savings investments given by the organiser. The financial year ended March 31, 1948, had constituted a record in the district in all respects, reported Mr. Yarrall. An annual quota of £72.592 had been set, but this had been ex ceeded in less than three months, while each of the 11 post offices in the dis trict had attained its quotas by October 23 fast year. In no previous year since national savings opened had every post office in the Gisborne district attained its annual quota. In all, £203,717 was invested in national savings in the Gisborne postal district last year. During the year Gl2 new accounts were opened in the district, 388 new group accounts being opened in Gis borne itself. A large part of the weekly quota was being received now from group accounts. Group Movement Mr Yarrall pointed out that the New Zealand National Savings Committee and the post office were anxious to maintain and develop the group move ment, both from the angles of personal thrift and the maintenance of the national economy by the withdrawal ol consumer spending power at present. Firms in most instances were ready to encourage the practise of thrift amongst their staff's and to provide the facilities for regular savings, by deduction from wages. It was hoped and expected that investments would maintain their present high level during the 1948-49 year, £11,551 having been invested to date this month in the Gisborne district. Investments at Ruatoria totalled £I2OO, over half of the annual quota already, while Tolaga Bay deposits totalled onethird of the quota of £2BOB. For the week ended April 24, £2408 was invested in the Gisborne district, all 11 post offices having obtained thenquota. In Gisborne £l7lO was deposited, in Ruatoria £259, in Opotiki £194, and in Tokomaru Bay £139. The committee expressed its appreciation of the courtesy and co-opera-tion extended to it and its clients by officers of the Post and Telegraph Department and the organiser. in all matters concerning national savings.