BANK STATEMENTS.

New Zealand Herald, Volume LXI, Issue 18635, 29 April 1924, Page 6

BANK STATEMENTS.

MARCH QUARTER RETURNS, 8 LARGE EXCESS OF DEPOSITS MARGIN OF £2,629,768. , IMPROVEMENT DURING YEAR An excess of deposits over advances of £2,629,768 is shown by the aggregates of the average statements for the March quarter issued by the six banks trading m New Zealand. A year ago there was an excess of deposits of £944,245, Following is a comparison of the various classes of deposits for the March quarter of the last two years:— M'ch, 1924. M'ch, 1923. Inc. £ £ £ Govt. .. 4,600,259 5,193,821 *533,562 Free .. 28,436,162 26,445,502 3,990,660 Fixed . . 18,597.130 17,020,314 1.576.815 Totals . .£51,693,551 £43,659,637 £3,033,914 "Decrease. The free and fixed deposits for the March quarter of recent years compare as follow :— March Free. Fixed. • Totals. Quarter £ £ £ 1914 . . 13,475,7'U 10,'554.479 24,030,250 1915 . . 15,958.73!! 10,870,508 26,829,240 1916 . . 19,091,949 12,182,104 31,274,053 1917 . . 20,970,70" 13,385,838 34.;,€6,540 1918 . . 21.614.305! 13,891.195 35.005.497 1919 . . 24,363,681 14,465,145 38,848,826 1920 . . 34.814,896 15,850,195 50.665,091 1921 . . 30,785,205 16.370,525 47,155.730 1922 . . 24,138,746 16,221,644 40,860.390 ltf<23 . . 26.445,502 17,020.514 43.465,816 1924 . . 28,436,162 18,597,130 47,033,292 The advances and disccunts compare as follows — M'ch, 1924. M'ch, 1923. Inc. £ £ £ Advances 42,633,458 40,785.351 1,848,107 Discounts • 1,770,066 1,736,220 33,846 Totals £44,403,524 £ 42,521.571 £1,881,953

Taking the free and fixed deposit* together and the advances and discounts together, the following arc the figure? for recent years:— Excess of March Deposits. Advancce. Deposits. Quarter. £ £ '£ 1914 . . 24.030,250 23,666,751 363.499 1915 . . 20,829,240 23,760 3,068,979 1916 . . 31,274,053 23,733 893 7,5*0.161 1917 . . 34,356,540 27.694.930 6.661,610 1918 . . 35,505,497 29,317,895 6,187,602 3919 . . 33,848,826 32,203,646 6,645.180 1920 . . 50,665,091 32,042,043 18,653,048 Excms of Advances. 1921 . . 47,155,731 52,446.340 5,290,610 1922 . . 40,360,390 46,491.315 6.130,325 Excess of Deposits. 1923 . . 43,465,816 42.521,571 944,345 1924 .. 47,033,292 44,403,524 2,629,768 The notes in circulation during the quarter averaged £6,600,970, while the coin and bullion held by the banks amounted to £7,877,259. Corresponding figures for recent years are as follow:— March Circulation. Coin &■ Bullion. Quarter. £ £ 1914 ' .. 1,665,939 5,317,861 > 1915 .. 2,639,584 6.420,559 1816 .. 3.171,553 7,120,863 . 1917 .. 4,637,451 7,863,635 1918 .. 5,915,528 7,984,188 1919 .. 6,512,191 8,075,999 , 1920 .. 7,765,560 7,307,212 1921 .. 7,830,206 7.662,557 1922 .. 7,510,451 7.777,980 1923 .. 6,632,183 7,929,266 1924 .. 6,000,970 7,377,259 The notes held by the banks amounted to £448,308. so that the net circulation among the public was £6,152,669, a• is against £6,293,538 in the .December* quarter, and £6,130.965 in the previous March ' quarter. The . net circulation reached its highest point, £7,163,683, in the December quarter of 1920, and the ,• lowest since then was £5,944,960 in she September quarter of 1922. ' .