N.Z. FINANCES

Hawera Star, Volume XLVIII, 11 April 1925, Page 4

N.Z. FINANCES

SATISFACTORY POSITION

banking returns. ■

.ill 11:1,1.011 a I'll HItKSJS associations WELLINGTON, April 11. Banking returns for the March quarter this year again disc-ose a satisfactory improvement in financial conditions. As compared with the returns or a year ago, deposits exhibit ail increase of £2,863,965 and advances have made a' moderate contraction of £673, 262, resulting in an increase of £3,537,197 in excess of deposits o.er advances. in the last quarter or last year, advances exceeded deposits -by £1,259,955, so the present excess of deposits, which stands at £6,100,966, is. an improvement of £7,426,921 .in., a, quarter. Excellent returns ! for ouir main products, especially wool, are no doubt mainly responsible for this improvement. Movements in free deposits, as they affect several banks, during March quarter, 1925, are shown as follows, as compared with the figures for the March quarter, 1924: —

1924 1925 Bank quar. ’£ quar. £ New Zealand, 12,974,447, 13,186,381 Union, 3,511,661, 3.968.545 N.S. Wales - 3,092,125, 3,215,228 Australasia, 2,684,020, 2,910,368 National, 5,401,692, 4,938,387 Commercial, 772,213 , 896,608 Similar comparison of fixed deposits show the position to be as under:— 1 1924 . 1925 ' Bank quar. £ quar. £ New Zealand, 9,428.346, 16,056,0^1 Union, 2,305,278, 2,424,246 N.S. Wales 2,496,357, 3,018,340 Australasia, 1,463,012, l,o9?,U08 National, 2,665,747, 2,788,416 Commercial, 248,390, 247,620