The N. Z. Times THURSDAY, JULY 15, 1909. THE QUARTERLY BANK RETURNS

New Zealand Times, Volume XXXI, Issue 6871, 15 July 1909, Page 6

The N. Z. Times

THURSDAY, JULY 15, 1909. THE QUARTERLY BANK RETURNS

trrrs WHICH re iNCORroBATXD TBit ‘'WHIAIKSTOV IHMPBNDBNT.’’ ESTABLISHED 1841.

The returns of the banks trading in New Zealand for the second quarter of 1909 show a satisfactory continuation of the improvement exhibited by the figures for the March quarter, and fully realise the anticipations in that direction expressed in these columns when the last returns were reviewed. The ground for our favourable forecast was the expectation of an increase in the exports for the quarter, with a diminution in the volume of imports. Though the official trade returns to June 30th are not yet completed, there is evidence that our expectations in this respect have been verified, while the results of these movements are borne out in the bank returns.

Following is a comparison of the totals under the more important headings shown by summaries of the bank returns for the March and June quarters.

Private deposits show an increase in the quarter of £846,879, while advances, including discounts, exhibit a decrease of £1,277,089, a total improvement in the general position of £2,123,968. On the other hand, Government deposits are less by £82,444,j leaving still a net improvement ofj over two millions. This, in addition to the improvement shown in the March quarter, makes a total recovery of £4,139,428 in the six months. This is, of course, very satisfactory. Still, it has to be remembered that movements in the directions shown above are normal in the first six months of the year, though on the present occa-, sion unusually heavy. Note circula-l tion and coin and bullion both show moderate increase. ANNUAL COMPARISONS. Having thus reviewed the changes since the March quarter, we will now contrast the present return with those of previous years at the same season, and' bring out the movements from year to year. We begin with the totals of assets and liabilities, as follows :

Since June, 1908, the excess of assets over liabilities has been reduced from £4,880,691 to £3,106,212, ,a difference of £1,774,479. In 1907 the two totals were nearly' equal. Since 1904 the assets (including advances) have been increased by £6,282,150, while liabilities, including deposits, have been only augmented by £1,232,040. Advances and discounts present the following comparisons:

The rapid inflation has been checked, and the latest return shows a shrinkage of £2,369,035 in the twelvemonth. Private deposits display the following movements:

The total, in spite of recent increase, still shows a falling-off for the twelvemonth of £323,189, against which, however, there is a reduction in the total of advances. The total deposits contrast with the total advances as follows, showing the difference, plus or minus, of, deposits i

The recovery that has taken place in the twelvemonth has, at all events, brought the advances below the total oi deposits. Note circulation shows the following fluctuation :

The total is below that of the last two quarters at the same period, though slightly higher than in the March return. The aggregate of coin and bullion compares as follows:

The supply of coin is well maintained. In the returns of the several banks the following movements are shown during the twelvemonth in advances and deposits : ADVANCES.

Each bank shows a share in the increase of advances, and all but one show a slight falling-off in the deposits. On the whole, a very fair measure of recovery is shown, and there is good reason to anticipate that the current quarter will also show a substantial improvement upon the corresponding period of last year.

March June Quarter. Quarter. Deposits, free 10,100,938 £ 10,692.670 Deposits, fixed 9,983,942 10,039.089 Deposits, Government 1,224.482 1.142.038 Discounts • 2.132,562 1.967,253 Advances 18.166.903 17.075,128 Not© circulation 1,587,052 1.623,671 Coin and bullion 4,712.936 4,956,114

June Quarter. Assets. Liabilities £ . £ 1905 ... 21,660,065 22.603,963 1906 ... 23,207,706 24.795.626 1907 ... - 26,015.486 26.134 728 1908 ... 29,480.724 24.600.033 1909 ... 26,942,215 23,836,003

June Quarter, Discounts. Advances. Total. £ £ £ 1905 .. 2,106,841 13,218,030 15,326.871 1906 2,031.633 14,103.565 16.149 198 1907 .. 1,987,162 16,033.352 18,029 514 1903 ... 2,274.841 19,136.675 21.411.416 1909 ... 1,967,253 17,075,128 19,042.381

Jane Quarter. Free. Fixed. TotaJ, £ £ £ 1905 . 9.469.665 9,423.193 18,892,858 1906 ... 10.732.7C9 9.867.273 20,599,982 1907 ... 12.213.939 9,629,025 21.842,964 1908 ... 11.532.286 9,722,662 21.254 918 1909 ... 10,892.670 10,039,089 20,931.759

Jnne Quarter. Deposits. AdT*.noos. Dif. ferencfl 1906 ... £ 13.892,853 £ 15,326,871 + £ j 3,565,997. i9os 20,599,982 16,140,193 + 4,459.734 1907 ... 21,842.961 18,020,514 t 3,822.450 1908 ... 21,254.948 21.411,416 156,468 .1909 ... 20,931^59 19,Q&381 + -l,®9,37a

March June Quarter. Quarter. £ £ 1905 ... 1,457.970 1.521,559 1906 ... 1,517,667 1.615.447 1907 ... 1,647,731 1,694.328 1308 ... 1,640.783 1,666.616 19C9 ... 1,537,052 1.623,671

1905 £ 4.000.598 1906 4.660.851 1507 ... 4,755.803 1908 ... 4,917.719 1909 ... 4.956,114

June June 1908. 1909. £ £ Bank of New Zealand ... 8,608,322 7,589.206 Union Bank 3,448,885 3,223.719 Bank of New South Wales 3,191.581 2,690,564 Bank of Australasia ;.. 3,274,268 2.815.640 National Bank 2,888.360 2,725.251 DEPOSITS. Juno June 1508. 1909. £ £ Bank of New Zealand ... 9,949,933 10.C09.858 Union Bank 2,911,510 2.845.455 Bank of New South Wales 3,205,470 3,054,293 Bank of Australasia ... 1.864.414 1.749,344 National Bank ... 3,323,621 3,272.809