BANKING FIGURES

Nelson Evening Mail, Volume LXIV, 10 April 1930, Page 5

BANKING FIGURES

DECREASED BUSINESS The raising of the bank rate at the beginning of the month, states the “Monthly Abstract of Statistics,” together with the conditions now ruling throughout the country, has had a rather depressing effect on the amount of lousiness transacted during February. The volume of debits to individual accounts (excluding Government accounts) reached a level 8.8 per cent, below the figure recorded for the month of February, 1929. Also, whereas last year February recorded an increase of 22.6 per cent, over January, the corresponding figure for this year is only 17.9 per cent. The recession in the total of advances which set in in December still continues, although at a slow rate. Deposits are gradually climbing, there having been an increase of £2,000,000 since December, but £1,500,000 of this figure is due to increased Government deposits. The ratio of advances -to deposits now stands at 92.88 per cent., whereas for the same month of last year the figure’ was shown as 79.96 per cent. Excluding Government deposits, the ratio of free to fix’Ad deposits reached its lowest point in October, when 73.08 per cent, was registered ; there lias been a progressive increase since that month, a slight rise in free deposits and a small drop in fixed deposits having the combined effect of raising the percentage figure 6.6 per cent.