BANKING RETURNS.
• Following are the bank returns for Juno Quarter, compared with same quarter of 1902 y<?W and Ul t,!O March qi^ rt 'er,
\ June June March i quarter, mmrter. quarter. „ ~ 1902. 1901. 1902. Deposits— £ £ ■ £ At interest ~ 8,423,773 8,205,499 8,318,438 At call .. .. 7,763,718 7,227,160 7,087,161 Government ~ 1,001,008 ' 958,711 1,255,294 Totals ... .. 17,191,499 16,391,390 16,660,893 AdvancesDiscounts .. 1,515,20G 1,961,790 1,804,195 Other, advances 11,013,081 10,075,871 10,525,993 Totals „ .. 12,831,287 12,037,661 12,600,188 Government and funded sccurities 910,025 1,015,628 944,610 Notes in circulation .. * 1,403,430 1,416,436 1,353,103 Coin and bullion ~ held .... 3,160,710 3,006,157 3,119,543 lom nnn * r ®® ord >. showing an increase of jto00,(J00 m deposits for the year, and au increase of very nearly the same amount in advances, with the very remarkable fact that the banks hold £4,360,000 more money m deposits than they are advancing to their customers, and this although the UovernIront deposits have increased but slightly tor the year, and are £250,000 less than they \vere 111 March. The main increase is in deposits at call, which are £536,000 higher than m .Tune last year and £676,000 higher than m March. It is really marvellous that tins Constant accumulation of spare money lias gone, on, notwithstanding the low price of our principal staple-wool. Tt is (rue. that the " other advances" have increased by nearly a million in the year, but the discounts have, gone down £143,000, so that tho trading community, at all events,' is strong Tho note circulation shows a considerable recovery since March, but a slight falling off of £13,000 for the voar, which is easily accounted for by tho number of pUDIio works men thrown temporarily out of employment bv the Government running ehort and shutting down ocKiin works durmg the quarter. Coin and builiofi keeps pretty steady, with slight increases both on the year and quarter. The inferences of general prosperity drawn from these figures aro confirmed by the Post Office Saving Banks, the excess of deposits over withdrawals for the quarter being £164-,000. against £118,000 for tho same quarter la=t year. Only two places chow an cxcess of (£554) (£327) and Nnpier
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Bibliographic details
Otago Daily Times, Issue 12425, 7 August 1902, Page 4
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343BANKING RETURNS. Otago Daily Times, Issue 12425, 7 August 1902, Page 4
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