THE BANKING POSITION
AN UNFAVOURABLE COMPARISON (Special j,o The Mail) this bayThe ligurps of i tiie quartcply returns of the banks' far the period -ended 31st NtaVcli last? compare unfavourably with those of similar period of 1925. said the chairman at the annual meeting of the Bank. of New. Zealand at Wellington to-dav.
the result being a shrinkage in banking resources in-the Dominion of £6,331,049. This position is due primarily to the adverse external trade conditions already mentioned, and, in a lesser degree) to' the raising of loans locally by the Government, and local bodies. THE NATIONAL FINANCES The net surplus, revenue—£l,lss,679 — j of the Dominion; for the ■ year ended j 31st March last, although arising main-] ly from Customs duties on abnormally heavy importations, is a. very satisfactory indication of prudence in the conduct of the country’s finances.. This pi : udertce -is also reflected in the succeSsful flotatioh, a few weeks ago,, of 5 jp'er cfeht.. loan of £6,000,000 in London at 98 j,- which was over-subscribed
Depbsiis.—-1925 1926 £53,090,843 £51,314,674 Decrease £1,776,169 Advances. —1925 1926 £43,730,262 £48,285,142 Increase £4,554,880
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Bibliographic details
Nelson Evening Mail, Volume LXI, 18 June 1926, Page 6
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181THE BANKING POSITION Nelson Evening Mail, Volume LXI, 18 June 1926, Page 6
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