RECORD BANK DEPOSITS.

New Zealand Herald, Volume LXVI, Issue 20229, 13 April 1929, Page 12

RECORD BANK DEPOSITS.

HIGH LEVEL IN DOMINION.

FIGURE NEVER EQUALLED.

TOTALS OF 1920 OUTSTRIPPED.

Tho high level of deposits shown in tho bank statements for the March quarter of this year, already emphasised as the outstanding feature of tho position, actually constitutes a, record in the financial history of New Zealand. The figure, £55,345,495, has been approached only in tho Juno quarter of and the September quarter of 1920, when tho respective figures were £54,598,092, and £53,131,692. Tho excess of deposits over advances is not so striking at the present tirno as it was in tho latter part of 1919, and tho three first quarters of 1920, but there was much more reason to regard thoso times as abnormal than tho present. Following is a table showing tho occasions when the deposits have been more than £50,000,000, with the corresponding advances and tho excess of deposits over advances in each instance: —

Tho deposits represent about 44 per cent, of tho total while the fixed deposits are equal to just over 50 per cent., tho balance being Government deposits. Last year the free deposits wore 46.60 per cent, of tho total and the fixed deposits just under 50 per cent.

Excess of Quarter. Deposit?. Advances. Deposits. Mar., 1920 . £50,665,097 £32,042,043 £18,623,048 .Tunc, 1920 54,598,092 34.789,581 19,808,511 Sept., 1920 53,131,692 39,017,808 14,113,881 Juno, 1925 51,463,635 43,935,769 7,527,866 June, 1928 52,947,133 45,426,955 7,520,178 Sept., 1928 52,596,018 45,119,421 7,476,594 Dec., 1928 51,661,406 48,101,102 3,560,302 Mar., 1929 55.315,495 46,359,744 8,985,751