THE TRADE OUTLOOK.

Otago Daily Times, Issue 14358, 30 October 1908, Page 5

THE TRADE OUTLOOK.

I'ORTENT OF THE BANKING* FIGURES. (From Our Own CoimESPoxDKJT.J . i( WKLMNOTON, October 29. Tlic Now Zealand Trade Review lins an interesting article on the banking returns and tlio trade outlook. In regard to the banks; it points out that for the year ended on September 30 the advances had increased by £2,719.776, while private deposits had decreased by £1,314,995 and Government deposits by £837,193—a total change of £4,951,964,while even in the Savings Hank withdrawals showed for the first time in many years a slight excess over deposits, Oil tho other hand, the comparison of imports and exports with those of tlio preceding 12 months exhibits an unfavourable change, equal to £5,200,000. The relation of (hose sets of facts to each other in the nature of cause and effect cannot be questioned. "The movements in the transactions of the Post Office Savings Hank are" savs the Keview, "especially interestin«. They £620,000 in deposits in the latest 12 months, the excess of deposits over withdrawals is smaller by £750,000. These facts appear to corroborate the theory hat the Savings Bank is being utilised by a claes of depositor fur whom it. was not intended', and that large sums have been deposited which are now brim- withdrawn under the attraction of hi<.„ rates' obtainable for loans and excellent Security J Ins exemplifies the inconvenience of tins' class of business for a savings tank. , "As to the volume of imports," the Review says, _" we are sorry to sec no sign of diminution. On the other hand, the realisation of the output of butter and cheese as it comes forward is giving some ease ,„ country districts, which permeates thence throughout the Dominion." i-lic official returns of imports and oxports (excluding specie) and Customs reand 1908 show the following figures: — Increase or ~ , 1907 iSds. Decrease KtporU .. £3 2J5,127 £!,873.125 t£375,002 Import. .. £1.C®,818 Ufm,W UWISO OiUioms .. £ 807.812 £ 618,712 -\£ ®]m x 'Increase. fDecrenrc. The Review expresses disappointment that there has not been a reduction in the imports. For some time past it lias been contending that we are over-iniporthv, and it says the decrease will have to tome sooner or later. The Customs decline is accounted for by the tariff remissions. A table is published givin- the imports and exports for' tho lust "throe years, and attention is drawn to the fact that "imports show for the year an increase of £1,679,000, and exports a decrease of £2,521.000,—! i total difference of £4,200,000,-and it is to be feared, that the results are even worse than this, as much of the wool exported is certainly over-valued. A year ago the expoits exceeded, tho imports by £3,820,000, but this year it is the imports that arc ill excess—by £1,380,000. A few 'days ago I gave you tho Gazette figures showing the movement in Savin«s Bank deposits and withdrawals for tho last quarter as compared! with tho same quarter of the. preceding year. The Review now shows that in 1906-7 the. de'ifooi C T' ed . tlle witMnwals by £1,291,507, but in 1907-8 the oxcess for ho year tell to £541,581-a remarkable falling off.