BRITISH BANKS.

New Zealand Herald, Volume LXVIII, Issue 20779, 23 January 1931, Page 7

BRITISH BANKS.

GROWTH OF " BIG FIVE."

EXTENSION OF ASSETS. Our amazing banks are still prosperously extruding their vast organisation in spite of all our post-war industrial troubles, states the London Daily Mail, fine of the most remarkable aspects of tho rapid extension of banking facilities in this country' to all sections of the community is the enormous amount of building and acquisition of new property which is now talcing place. Ihe "big fivo" clearing banks have now nearly 8000 branches throughout the country and are still constantly opening new premises and thereby adding to their enormous assets in real estate property. A very large- proportion of bank properties stand on valuable sites and the amount invested in bank premises is a hidden reserve which is never fully disclosed in the mass of statistics produced by I lie banks. In London alone the big five have many more than 1000 branches, many placed on valuable corner sites and mostly in busy quarters The growth of branch banking since the war is well illustrated by the figures of tho Midland Bank, which still claims to be the biggest bank in tho world. This bank has now 243 branches in London. Five years ago the number was 200, while ten years ago the bank had no more than 164 branches in London.

Tho cluster of palatial head offices now taking shape, with the Bank of England as its core, around 'J'hreadneedle Street alone represents remarkable extensions of banking services and a, vast fortune in estate value.

Although tho accounts of the banks show among their assets certain amounts for bank premises, this is purely a book figure and gives no adequate indication of the real value of the properties. For such proportion of expenditure on property as is from time to time placed to these accounts is year bv year written down by allocations out of profits. Nevertheless, in the last annual reports of the "big five" bank premises accounts total - led the stupendous figure of £32,938,824. And still they go on extending. Is it because more use, is being made to-day by the public and by industry of the multitude of services available to tho community? The small man is catered for as fully as arc the complex credit requirements of industry. Among the newest innovations is a big bank's new head office safe-deposit service. For a mere 10s per annum anyone may rent not only one of the smaller safes in the new strong-room, but the use of a series of private rooms in each of which a telephone and other facilities are installed, for conducting interviews or other business in strict privacy.

If the; banks am, prosperous they give in return an astonishing service to tiie community. Both the prosperity and the service arc built up from years of experience which is unrivalled anywhere in the world. l'"nr all our troubles, we never fear such banking disasters as have occurred in Paris and America.

The capital of (he "big five," amounting to £54.559,243. is spread among more than 300,000 shareholders

AUSTRALIAN WINE. , HEAVY STOCKS HELD. Referring to the 1931 Australian vintage, which will commence in some of the early districts within a few weeks, the monthly report of Lindeman, Limited, slates: —"It. will present serious problems, nttd the. difficulties of finance and storage are causing considerable anxiety, especially to co-operative concerns which have great stocks of both wine and spirit. The latter presents a problem in itself owing to the surplus supply, and it is obvious that something must soon be done to meet the situation. There'arc approximately 1,623.000 gallons of fortifying spirit, in bond, much more than sufficient for the whole of the 1931 vintage, without taking into consideration the spirit that will be made during the vintage. One feature of the position is the increased number of winemakers who now make their own spirit and do not buy from outside suppliers. This accentuates the difficulties of those concerns which manufacture large quantities of spirit for sale, in addition to tho spirit required in their own wine making operations."

AUSTRALIAN PRODUCE. (Received January 22, 9.35 p.m.) SYDNEY, Jan. 22. The following arc to-day's quotations on the Sydney produce market : Wheat..—Easier tone. Ex trucks Sydney, 2s 2d; at country sidings, Is 7d. Flour, £B. Pollard, £4 ss. Bran, £3 15s. Potatoes. —Tasmanian, fo £9: others, £7 10s., Onions, Globes. £B. Oats.—-White, 3s 6d; Algerian, 4s 3d. Maize, 4s 6d. Adelaide prices are:—Wheat. 2s Id to 2s 2d. Flour, £7 7s 6d. ' Pollard, £4 ss. Bran, £3 10s. Oats, Is 6d. STOCK SALES. PRICES AT PUKEKOIIE. [l3 V TELEGRAPH.—OWN CORRESPONDENT.] PUKEKOHE. Thursday. An average yarding of dairy cattle sold at slishtly improved rules at the stock sale at Pukekolic to-day, conducted by Messrs. Alfred Buckland and Sons. Limited, li/'st Jersey heifers, close to profit, realised from £8 to £10: other good Jersey heifers, £0 ]os to £8; backward Jersey heifers, £3 10s to £5 10s. One extra choice Shorthorn heifer call niado £9 7s 6d; other Shorthorn heifers, £1 10s to £6 10s. Best Jersey cows brought £lO to £ll Uls: other good cows. £7 10s to £9 10s: backward cows. £1 to £O. Tho market for beef was dull. Values were on a par with Westfield rates of yesterday. Best fat cows and heifers mado £1 to £6 os; other killnble cows, £2 10s t.o £3 15s; boner cows, £1 10s to £2; 18-month steers, £3 ss. Fat pigs were penned in large numbers. Heavy baconers realised £2 10s to £'2 ]2a; lighl and medium baconers, £2 -Is to £2 9s; heavy porkers. £1 ltis to £2 .'ls; medium porkers. £1 13s to £1 19s; smaller porkers, £1 5s to £1 12s; large store pigs, £1 2s to £1 7s; slips, 15s to '£l; weaners, 8s to lis; bows in pig, £l. M ATA M ATA VALUES. [ 11 Y TELIXJIIAVU. —OWN CORUESPON"I)F.NT.] MATAMATA. Thursday. The I*'miners' Auctioneering Company held tlio usual stock sale at Matamnta on Wednesday, when there was a medium yarding of cattle, which sold at easier rates. An extra heavy yarding of pigs was cleared, also at slightly easier prices. Competition was keen and prices considerably firmer for a heavy yurdinsr of sheep, consisting mainly of store lambs. Prices were: Ciitlle: Pat cows, £5 to I'G 10 s; niedniin fat. cow.-, f'l 5s to £t Its: light fat cows. £3 9s to £;! tos; forwurd conditioned cows, £2 Its to £3 lis; boners, £1 to £2 is; pottinc bulls, £2 10. Hto £-1 10s. Pigs: Medium baconers and heavy pork'ers, £2 5s to £2 8s; heavy baconers, £2 -Is to £'2 lis: light porkers, ' ;(5s to £2; good stores, 27s to ;ios • slips, 23s to '.!ss; weaners lis to 20s; smaller -oris, lis to 12s. Sheep: Fat lambs, 12s fid; fat hoggets. 12s to lis 3d; pood framed store lambs. 7s lid to 9s 2d: medium-sized lambs, tis Oil to 7s ; small lambs. Is to 5s lid. JOHNSONVILLE PRICES. |BY TELEGRAPH.—OWN CORRESPONDENT.] WELLINGTON, Tlnirsday. At the Johnsonville sale there was the usual attendance of buyers and an average yarding of cattle and a large yarding of sheep. Competition for cattle was good at reduced limits, prices showing a decline of up to £2 a head for bullocks and 30s for cows and heifers. Yealers were in fair demand. Sheep were dull of sale, with prices showing an all-round decline of: wethers 2s per head, ewes 3s, and lambs Is to Is till. A consignment of porkers met with good side. Quotations: Heavy bullocks. L'lo 5s to £ll ss; bullocks, £S to £9 17s 0(1: heavy cows. £5 17s (id lo £0 Ills; cows. £1 Uls to £."> 12s lid; vealei's. £1 Ids to f:2 ss; wethers, 12s lo 1.3s lid: medium j wethers, 10s lOd to lis Id; light wethers. :*s to fs 2d: black faces, 9s 3d lo 10s oil; heavy ewes, 5s 9d to 7s; ewes, 5s fo 5s I(d; lambs, 9b to 14b Id; porkers, £2 to £2 Is.