A SUCCESSFUL YEAR.

New Zealand Herald, Volume LVI, Issue 17145, 26 April 1919, Page 10

A SUCCESSFUL YEAR.

AUCKLAND SAVINGS BANK. NET PROFITS TOTAL £20,142. 6 AID TO SMALL BORROWERS. iS 0 The operations of the Auckland Savings n Bank woro referred to by the retiring vicepresident, Mr. A. S. Bankart, at the i. annual, meeting of the trustees yesterday 6 morning. In moving the adoption of the ,1 j balance-sheet for the year ended March 31, 1919, he stated that the net j ofits for the J year were £20,142, from whi. 4 £1979 had ' been expended in additions U, the Newton • branch, and £2450 was donated for various ; patriotic purposes. A net surplus for theyear amounting to £15,527 6s 2d was loft I to be added to tho sum carried forward ! last year, leaving £29,096 9s 6d to be dealt 3 with... It was decided to transfer £15,000 „ to the reserve, making the total reserve I £175,000, and to carry forward £14,096 , 9s 6d to the new account. Mr. Bankart gave an extended review of the bank's J position and compared the present posir tion with that during the period of tho " : war. Ho said that deposits had increased *■ I since April 1, 1914, by £978,263. During 0 the same period the number of depositors '» had increased hy 11,472. bringing the total '•to date to 64,i>78. That, Mr, Bankart 0 X claimed, fully justified tho policy adopted S in the management. I Mr. Bankart mentioned that the average 8 slim at tho credit of depositors to-day was '' £39 6s 6d, as against £29 7s Id in 1914. * That proved the increased prosperity of « the people generally. Speaking in regard * to investments, Mr. Bankart said the »« Auckland Savings Bank had increased its e investments in Government securities by ' £600,000 during the war period, and since 1. tho closing of the account a • further d £70,000 was also invested, bringing tho 0 total amount invested in New Zealand k Government debentures to £900,000. 0 Local bodies had also received assistance i- from the Savings Bank to the extent of ' 1 £65,000, while at the same time investt ments on mortgage were increased by (i £120;000. The interest paid to depositors i during tho war period totalled £494,770. r Although £16,600 had been donated to n - patriotic funds, the reserves of the bank s had increased by £55,000. 0 I Mr. A. J. gntrican was elected vicej president. A vote of thanks was accorded y to Mr. Bankart for his services as vice- .. j president. { I In acknowledging the compliment, Mr. „ Bankart referred to the immense growth r ' of the institution, wh ; ch wp.s to-day the B custodian of. £2,531,322 of tho savings of ff the people. It was interesting, he said, " I to note with regard to the amounts lent j on mortgage that 63 per cent, of the in.vestments were in 3mall sums, averaging , £400. In former days tho same class of J loan would average from £150 to £200. Tho increase in tho sums borrowed was due not only to the extra cost of building, . but also to the improved standard of com- ° fort required by small borrowers for whom 1 the bank was catering. ! ROLL OP HONOUR. l i ■* \ UNVEILING AT ONEHUNGA. I PERMANENT MEMORIAL. J An interesting ceromony took place at a ' Onohunga yesterday afternoon, when a „ Roll of Honour containing 460 names of j local soldiers was unveiled in the Carnegio p ! Library. The ceremony was performed . .by Sir Frederick W. Lang, M.P., in the B presence of a large gathering. 3 j Mi". J. Stoupo, Mayor of Onehunga, said j ! the Roll of Honour would bo kept in the 1 custody of the Onehunga Borough Council, j and placed in the Carnegio Library. Sir Frederick Lang voiced the pride with 3 ! which New Zealanders regarded tho ex3. plaits of her soldiers, whose valour and 1 , bravery had won the respect and admiration of other nations. » , , Sir Frederick then unveiled the roll of ' honour. j The design of tho roll of honour is of i , the lonic order of architecture It is half lan octagon in shapo, having a projection from tho wall of 3ft, is Bft wide, and over 12ft in height, Two massive fluted columns support each sido of the centre panel, which is surmounted by a semi- , circular lonic arch. Under this arch, on the facado, is a carved shield, bearing tho Onehunga Borough Council monogram. Tho centre panel, which contaians 240 names, is surmounted by a ribbon scroll bearing the words: "Roll of Honour," under which aro the words: " Onehunga's response to Empire's call." On the bottom of this panel is placed : " Erected by Onehunga Borough Council, J. Rowe, " Mayor, 1914-17; J. Stoupo, Mayor, 1917, j 1919." The centre panel bears reproductions of tho White Ensign and Union Jack, representing tthe navy and army. At each ' side of columns and in '-eturns of struc- ' ture are two panels similarly illuminated, , 1 an* l hearing together 220 names. < ' 1 The base of the roll has sis Jjfnes, the ' general view of Callipoli, AnzacCovo, two other views of Gallipoli, and two depicting " the navy and army. The main memorial is in solid oak, and is a beautiful example ' of the cabinetmaker and carver's art, ' being surmounted with a lion in ■ the t centre lying at enso and symbolical •»!' Britain in peace time. On the right of this is a group of a woman and four chil- \ dren, depicting the widows and orphans; i while on the left is a group of three soldiers, one in the act of lifting a wounded j hero, and symbolising tho stretcher-bearers . in the field. 'I 1