TRADING BANKS

New Zealand Herald, Volume 81, Issue 24828, 26 February 1944, Page 8

TRADING BANKS

JANUARY RETURNS HIGH DEPOSIT LEVELS <:O.C.) WELLINGTON. Friday The principal items in the returns of assets and liabilities of the six trading banks at the close of business on Monday, January 31, are compared with those at December 27 in the following table. — « January December £ £ Circulation .. 31,237,729 33,357,144 Free deposits .. 88,515,1 '23 8-1,130,209 Fixed deposits ~ 20,508,223 29.080.567 Advances .. 44,-105,932 44,740,889 London assets .. 7,940,172 7,700,733 Notes of the Reserve Bank held as till money on January 31 were valued at £5,338|180. compared with £4.361,458 a month before. The issue and active circulation at the end of January in the past five years have been:— Issue Circulation £ £ 1040 .. 18,314,450 13,334,370 J 941 .. 21,824,947 16,334,421 1042 .. 23,784,133 19,102,203 1943 . . 29,991,087 24,937,802 1014 .. 30,575,009 31,237,729 A comparison of the aggregate deposits, advances and the excess of deposits in tho January returns since 1940 is as follows: Deposits Advances Excess £ £ £ 1940 70,527,069 49.P01.531 20,505,238 1941 . 81,225,10S 46,710,197 34,514,971 ! 1942 . 80.740,997 49,327,273 37,413,724 1943 .103,001,057 43,089,012 59,972.045 1941 .118,083,340 44,495,932 73,587,414 Fluctuations in the value of assets j held abroad, oil account of New Zealand business, as shown in the January returns in the past five vears have been as follows London Elsewhere Total £ £ £ 1910 . 8,973,230 2,067,353 11,010,583 1941 14,291,920 2,115,205 16,'407,185 1942 . 10,903,019 2,736,488 13,699,537 1943 . 12,033,821 2,609,312 14,043,133 1944 . 7,949,172 2,331,4.83 10,283,055 Overseas liabilities on New Zealand account total £565,049 in the January statement, against £517,150 at tho end of December. Subsidiary coin was valued at £763,988, compared with £551,711 a month before. EDUCATION WEEK (0.C.) DARGAVILLE, Friday Education week, conducted under the auspices of the Northern Wairoa branch of tho New Zealand Educational Institute, concluded this evening with an open forum when residents were asked to promote and take part in discussions on subjects brought up by the various speakers during the week. Tho institute provided a full programme, commencing last Monday with an address by the Director of Education, Dr. C. E. Beeby, who spoke upon current education trends and dealt at length with the new curriculum.