BANKING RETURNS.
Following are the bank returns for December quarter, compared with the same quarter for 1903 and with the September quarter of 1904: —
Thero is an inci-ease in the quarter on deposits at interest of £149,000, but a decrease on deposits at call of £571,000, and on Government deposits of £45,000; white on tho year there is an increase oil deposits at interest of £154,000 and on deposits at call of £64,000, but- a remarkable decrease in Government doposits of £543,000. There was also the largo decrease of £565,000 on deposits at call during the September quarter, so that since June tho withdrawals under this head are over £1.100,000, but as previously, tho accumulation of call deposits was altogether abnormal, it is presumable that permanent investments have lieen found for a good deal of the money. Coincident with this movement, it might liavo lieen expected that the banks would draw in their advances. Instead of that the total advances have increased in the quarter by £754,000. and on the year by £1,170,000. The wool shipments in the March quarter will no doubt put. many accounts in credit, but it is evident, the tendency is to dearer money, which is borne out' by the more stringent terms on which Government loans aro raised and the higher rates of interest on deposits. Five per cent, is now tho ruling rate for mortgages of considerable amount. There is, however, a surplus of over '£50,000 on the quarter over withdrawals in the Government Savings Banks. Notes in circulation show a slight deolino on the year, while coin and bullion show a steady increase. There is still a margin of £3,300.000 in doposits over advanoes, while the Government account will be relieved by tho proceeds of the recent million loan.
Dec. Dec. Sept. quarter, quarter, quarter ML 1903. 1904. Deposits- £ £ £ At interest .. 9,099,010 8,945,567 8,950,358 At call .. .. 8,425,370 8,3G1,04S 8,935,885 Government .. 1,024,332 1,481,030 1,000,495 Totals .. 18,518,738 18,788,871 19,010,738 Advances— Discounts .. 2,150,010 1,993,000 2,030,026 Other advances .. 13,0i)2,13S 12,085,011 12,40.1,033 Totals .. 15,243,148 14,078,707 14,494,559 Government and fmuled securities .. .. 998,525 1,010,407 998,525 Notes in circulation .. .. 1,451,813 1,400,279 1,429,937 Coin and bullion held .. .. 3,953,074 3,746,530 3,921,929
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19050213.2.59.12
Bibliographic details
Otago Daily Times, Issue 13206, 13 February 1905, Page 2 (Supplement)
Word Count
358BANKING RETURNS. Otago Daily Times, Issue 13206, 13 February 1905, Page 2 (Supplement)
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.