BANK STATEMENTS.
HEAVY DEMAND ON FUNDS.
RECORD TOTAL OF ADVANCES.
SMALL MARGIN OF DEPOSITS
ADVERSE MOVEMENT IN YEAR
[nY TELEGRAPH. —OWN CORRESPONDENT.]
WELLINGTON, Friday,
The principal features of the quarterly average statements of tho commercial banks for tho first quarter of tho year arc, in comparison with the position a year ago, tho reduction in public deposits by £1,542,254, and tho increase in advances by £7,317,034. They show an excess of deposits over advances of only £326,463, as against £8,985,751 a year ago, representing an adverso movement of £8,659,288. The amount of advances is a record for the March quarter, though slightly lower than the figure for the December quarter of last year. Following are details of the three classes of deposits for tho March quarters of this and last year:—
Mar. 1920. Mar. 1930. Decrenfle. Govt. .. £'2,864,43!) £3,466,080 XG01.647* Free .. 25,736,71.'! 23,905,822 1,830,921 Fixed . . 29,808,752 30,097,.11'J 488,667' 'J'otnls . £'58,209,934 £57,469,327 £710,607 "Increases in Govt, and fixed deposita.
Distribution of Deposits. The shrinkage in free deposits affected all tho banks, except the Commercial, which shows a small increment. On tho other hand, two of the banks report smaller amounts on fixed deposit. Tho following tables show details of the year's movements:—
Following is a summary of tho movements in both classes of deposits during the last fivo years:—
March Qiiurter. Free. Fixed. Totals. 192(5 . . £26,865,851 £20,4:16.629 £47,302,180 1027.. 24,440,778 21,088,034 45.528,812 1928 .. 24,482,151 25,476,141 40,958,205 1020 . . 25,736,743 20,603,752 55,345,495 1930 .. 23,905,822 30.007.J19 54,003,211
Growth of Advances. The advances have increased from £45.175,304 to £52,447,316, an increase of £7,271,832, and every bank has advanced liberally. The figures of tlir, several banks arc as follows:
Mbitll, March, Brinks. 1920. 1930. Increase. New. Zealand £19,240,355 £23,180,984 £3,940,629 Union .... 5,376,078 . 6,487,568 1,061,400 N.tt. Wales . 5,788.360 6.462,791 674,431 Australasia „ 4,737.439 4.958.222 250,783 National . . 8,516.310 9.691,289 1,171,970 .t'onirnorcinl . 1.516,753 1.686,252 169,529 Totals . £15,175,304 £52,447,130 £7.271,832
The discounts at £1,229,642 show an increaso of £45,202 over the corresponding quarter of last year. The comparison between deposits and advances in tho March quarter of recent years and the last four quarters has been as follows: Quarter. Deposits. Advances. Excess. Afar., 1026. £47.802.480 £'48,285,142 *£982.662 Mar., 1027 45,528,812 50.800.808 •5,271,996 .Mar., 1928 49,058,295 46,070,370 *3,887,025 Mar,. 1929 55,345,405 46,359,744 18,985,751 .Tune, 1929 57,051,894 47,407,211 +9,644,683 Sept., 10-20 54,568.626 49,537,992 15.030,634 Dec., 1929 53,356,733 53,807,93] *451,193 Mar., 1930 64,003.211 53,676.778 1326,463
'Advances. 1 Deposits.
The average note circulation at £6,417,038 was £46,144 higher than in tho corresponding quarter of last year. There has been a reduction of £614,523 in holdings of coin and bullion, chiefly due to the shipment, of gold to London last vear. The tola I is now £6,648,838.
FREE DEPOSITS. March, March, Dunks. 1929. 19;i0. Decrease. N. Zealand X 12,272,602 £11,164.335 XI.108.327 Union . . 2,919,211 2,893,700 25,511 N.S. Wales 2,766,998 2,551.110 215,579 Australasia 2,547,417 2,335,733 211,084 National . 4,271,455 3,932,470 338,985 Commercial 958.997 1,028.165 *69,168 Totals £25,730,743 £23,905,822 £1,830,921 'Increase. FIXED DEPOSITS. March, March. InBonk?. 19'29. 1930. crease. New Zealand . fl4.C2i.32t £11.863,274 £210.955 Union .; . . 3.450.484 3.209.8*3 *210.601 N.S. Wales .. 3,922,402 4.109,381 185.922 Australasia . . 2,010,803 2.710.336 99.473 TCutionnl 435,035 4.585,234 210,199 Commercial 057,584 019,308 *38,276 Totals . . £29,608.752 £30,097,419 £488.667 'Decreases.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20538, 12 April 1930, Page 12
Word Count
520BANK STATEMENTS. New Zealand Herald, Volume LXVII, Issue 20538, 12 April 1930, Page 12
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