HOKITIKA NOTES

Grey River Argus, 5 May 1932, Page 2

HOKITIKA NOTES

(Our Own CorrePpondent.) HOKITIKA, May 4. To-morrow evening the Westland Competitions open at the Princess Theatre. A well-varied programme is to be presented, and a large attendance is expected. The festival deserves every support as it is a means of im proving the clocutinary and musical abilities of the rising generation. The Koiterangi Women’s Institute celebrated their first birthday last week with a party at the Koiterangi Hall, which had been prettily decorated for the occasion with autumn shaded streamers. There were about 300 [people present and dancing and games wore the order of the evening. Mr W. Jamieson congratulated the Institute on the pleasant evening, and cheer* wore given for the leading members of the Institute.

At a special meeting the County C uncil decided to seek Government [grants ffor the following works:--Northern Riding: Malfroy’s Bridge repairs (£ for £1 £100; Malfroy’s bridge protection (£ for £) £100; Kum are Junction-Chesterfield, completion to Kapitea (£2 for £1) £l5O. Central Hiding: Hokitika Gorge Suspension bridge and track £250; Toaroha Springs track £l5O. Southern Riding: La Fountaine Creek bridge (£2 for £J) £900; Petersen Road completion (£2 for £1) £560; Three Mile Creek bridge (£2 for £1) £500; iGrraham’s Road (£ for £) £150; Stock Track, Watarou £300; La Fountaine Road (£ for £) £150; Education Endowment Road £200; Busch Road (on account) £lOO. Highways Votes: Kokatahi bridg* repairs (£3 for £1) £160; Kokatahi bridge protection (£3 for £1) £16o; Black’s Bridge (Lake Road) (£3 tor £1) £160; Left Hand Branch Bridge (Lake Road (£3 for £1) £1080; Open Crossing Bridge (Detour Road) (£i3 for £1) £4OO A meeting of the Library Commit tee was held last evening at the Library;. Present (Messrs W> Wilson (chair), Stuart, Duff, Niven, Coles and ’)r. Teichelmann. An apology for ab sense was received from Mr D. -i. Evans. The usual accounts were pass f»d for payment. Arrangements were made for purchasing a further supply of literature for the subscribers. It wns also decided to rearrange the shelving and provide more space tor the hook* For the Rimu Jubilee there was ideal weather to-day and a large numbci from Hokitika attended, a great many motor vehicles proceeding to the io* cality, some decorated for the occasion The beautiful avenue of native greenery into which the road up Rimu Hili was transformed enhanced everybody. Several barrels of “free beer” also charmed the of a good many! The procession was magnificent and tho old-time dance to-night fittingly terminated a memorable festival. At the County Council meeting last evening a vote of £l5 for the Green land Track was sanctioned An olToi was accepted from Mr G. P. Rea to supply 175 cubic yards of gravel at 2s per yard to repair Woolhouse Road, Ross. The overseer submitted a report on protection work at the Big Wanganui Ferry reserve, where Mr C. Herlihy, the tenant had carried out work to the value of £BO or £9O. A considerable length of protection had been done wih trees and logs, hauled by, a tractor and three horses. The wire nets supplied by the Council would be used to good advantage where the river was lower. It was agreed to supply a further coil of tviro and satisfaction was expressed at the i- -mount of valuable work done. It "wa* resolved to send a copy of the over seer's report on the Hooding of Pur cell Road, Matanui, to Or. Donovan to look further into the matter. An esti-

mate for fencing a portion of Mahinapua Road was laid on the table. An application from Brown and Nilsson to lav a •tramway for the haulage of sawn timber on Evan’s Road; and was approved subject to the conditions outlined being agreed to. the County solicitor to prepare an agreement on the lines indicated

Hokitika Savings Bank The Bank was opened for business on the 17th November, 1866, and 33 depositors were registered that evening. At the end of December, 1866,

there were 77 depositors with a total of £7Ol. This was three months before the Post Office Savings Bank was opened. The continual progress of the Bank’s business is shown by the table in the printed balance sheet. The deposits now amount to £136,125 and the number of depositors is 1863. Trustees who have full control, .direct the Bank’s operations, and are as follows: Messrs G. A. Perry (President), W. E. Williams (Deputy- President), J. D. Lynch, C. Evans, D. J. Evans, and Dr. E. Teichelmann. There are five of these institutions in the Dominion, viz., Auckland, established in 1847;’New Plymouth in 1850; Dunedin in 1864; Invercargill in 1864; Hokitika in 1866’ The Auckland Savings Bank is far and away the most important in point of view of the money handled; their deposits at close of this financial year being over six millions. The Bank’s investments are all made within the Provincial Districts of Westland anil Nelson, fnd it goes without saying that it serves a useful purpose in encouraging settlement and enterprise. The Trustees are allowed by the Act regulating the working of "the Bank to donate a portion of their profits to certain institutions as defined by law. In accordance with this provision the Trustees have since 1907 donated the sum of £3680 of which £1925 has been given to the Westland Hospital. The President’s report for the year hays:— We have before us to-day the 66th annual report and balance sheet. General conditions during the past year have given the business people much concern. It is therefore satisfactory to be able to present such a balance sheet and statement for the year ended March 31st, 1932. In spite of the depressing situation of the country generally, the figures are the largest in the history of the Bank, and evince the confidence of the general public in the institution. The number of youthful depositors is continually increasing and the figures can be regarded as a financial barometer, not so much of the public as a whole, but in respect to the thrifty members of the community. On August Ist last by arrangement with the Government and the other Trustee Savings Banks the interest was reduced from 44 per cent to 4 per cent, and the benefit was extended to the mortgagors. The Deposit accounts number 1863. 'There are 138 Societies and Sports Clubs’ accounts. The confidence of the depositors and their appreciation of the advantages and facilities offered is evidenced by the increased business. I consider that the year has been a most satisfactory one and have to express my thanks to the Trustees for their advice and assistance at all times during the period under review. Thanks are also due for the work performed by the staff. I append a short precis of the principal features of the balance sheet, showing the previous year’s figures in brackets:— Amount lodged by depositors £39,740 (£39,828), Amount withdrawn by depositors (£41,771) £47.700); interest credited £5,364 (£5.548); Total deposits £136,125 (£132.782); Invested on mortgage £15,840 £9.857); Repaid by mortgagors (£,931) (£11,556); Interest on mortgages, £4589 (£4,587); total mortgages £84,208 (£BO.533); other interest earned £3,316 £3,881); charges £724 (£712); total funds £158,616 (£154,468). .Provision is made each year for possible depreciation of mortgage securities. Return of the number of depositors and amounts deposited at close of each decade:—

The balance sheet as at 31st March, 1932, shows liabilities as: Amount due Depositors (1863) £13,6,125/6/94 and assets as: — First mortgage on freehold land £84,207/18/9; Inscribed stock at cost £26,008/10/-; Fixed deposit, Bank of New South Wales £15,000; Fixed deposit, Bank of New Zealand £14,600: Fixed deposit, National Bank of N.Z. £14,150; Current accouut in Banks. £243/19/11; Bank premises and furniture £2,350; Interest accrued £2,055 2/4.

The profit and loss account for the year ended 31st March, 1932, shows:— Written off mortgages against probable loss xlOOff; Written off j'H.ik premises £200; Charges £724/13/2; Balance £22,490/4/3; Amount at credit, profit and loss 1/4/31, £21,686/6/6: Interest accounnt £2728/10/11; Balance carried forward £22,490/4/3.

Amount of Year. Deposits Number 1866 £701 77 1S67 £5.789 315 1875 £8862 352 1885 £9,358 368 1895 £9,417 524 1905 £30,303 620 1915 £54,097 1001 1925 £94,146 1437 1932 £136,125 1863