MONETARY POSITION.

Hawera & Normanby Star, Volume XLII, Issue XLII, 13 April 1922, Page 5

MONETARY POSITION.

A VERY FAIR IMPROVEMENT

Bank returns for the March quarter show a very fair improvement in the monetary position. This, it is pointed out, is only the improvement naturally to be expected from the realisation of the season's produce. During the past twelve months deposits dropped seven millions and advances six millions, so that the excess of advances over deposits* is still nearly a million more than it was a year ago. The reduction in advances and deposits looks like a return to a more normal price level. Following ftre^some comparisons: —

March, 1922. Dec, 1921. £ £ Deposits free ... 24,138,644 24,380,432 Deposits fixed 16,221,644 16,555,187 Deposits Govt. 4,506,440 2,397,630 Note circulation 7,510,451 7,458,385 Discounts 1,739,138 1,789,800 Advances 44,752,177 '45,768,951 Com and bullion 7,777,980 7,683,951 Govt. securities 5,228,864 5,273,556

Totals of assets and liabilities for the March quarter now and a year ago are as follows: —

Assets. Liabilities. £ ' £ 1922 64,666,809 54,350.336 1921 71,097,423 62,815,649 Decrease ... 6,430,614 8,465,313 Following shows fluctuations in. deposits (free and fixed) covering the period of eight years : — i £ 1914 24,030,000 1918 35,505,497 1919 38,848,826 1920 50,665,091 1921 47,155,731 i 1922 40,360,390 I Following are details of deposits for this and last year : — i £ I 1921 (free) 30,785,205^ „ (fixed) 16,370,526' Total £47,155,731 £ ! 1922 (free) 24,138,746 „ (fixed) 16,221,644 Total £40,360.390 Following are the shares of the different banks in deposits and advances: Banks. Deposits. Advances. £ £ I New Zealand 19,813,182 21,242,862 Union 4,671,773 5,902,359 N.S. Wales ... 4,949,492 5,042,980 Australasia. ... 3,526,949 5,779,389, National 6.513,847 7,710,984 Commercial ... 885,147 812,741