Untitled

Hokitika Guardian, 22 April 1925, Page 2

Tint bunking averages for flu* first f|naitfi- of 1 lllfo show normal moveMH'iils, aiid indicate that the country lias completely recovered horn the slump of lik2()--1 • In tin- Decembur (Hiartcr tlic public were on balance indebted to (lie banks to the extent of ’£1.2o!),0oo, but in the last <|iiartcr this anionut was repaid and a substantial balance on deposit was accumulated. The principal movements as compared with a year a;yi are as follows:

Free deposits increased X!1 ..129,J0 I Fixed deposits increased 1.0.11.0.0 Advances decreased ... Lb ,dl)fs Discounts decreased ... Lion! Circulation increased . i); S,(b i Coin and bullion de-

creased 1-ID.dol It will be noted that both the fixed and tree deposits have grown substanitally while there is an appreciable reduction in the advances and discounts. This follows because our export of priimtrv products is seasonal. In the second half of the year the producers must rely upon bank accommodation to carry them on. and in the first, hall of the year the produce is realised or some portion of it and the banks are repaid. 11l the current, season the marketing of so much of the country s wool locally has been very helpful in this. The banking figures are quite sutisfaetorv for they disclose healthy, financial f ood itions, more sa t istaetory than thev have been for many years past. The consistently high prices obtained for our primary products have been the real cause ol Ihe great improvement disclosed.