THE TRADING BANKS

Otago Daily Times, Issue 24955, 30 June 1942, Page 4

THE TRADING BANKS

HIGH LEVEL OF DEPOSITS

The principal items in the statement of assets and liabilities of, the six trading banks at the close of business on Monday. May 25, are compared with the corresponding figures at April 27 in the fol-

Overseas liabilities on New Zealand account totalled £764,575, compared with £877,899 at the end of April. Subsidiary coin was valued at £695.669. against £730,563 in the April return.

lowing table:— Mav. April. . £ £ Circulation 20,698.902 20,185,247 Free deposits 63,815,175 62,529.203 Fixed deposits 28.308,812 28,632,283 Advances 44,422,654 47.444,132 London assets 11.489,984 11,179.646 Notes of the Reserve Bank held at May 25 were valued at £3,953.294, compared with £3.891,559 a month before. The issue and active circulation at the end of May in the past five years has been — Issue. Circulation. £ £ 1938 13,816.733 9,783,944 1939 15,572,050 11.565,493 1940 17.951.258 14.166.206 1941 21.782,022 17.327,139 1 1942 24,652,195 20,698,902 A comparison of aggregate deposits, advances, and the excess of deposits in the May returns since 1938 is as follows: — Deposits. Advances. Excess. £ £ £ 1938 .. 67,344,268 55,307.388 12.036,878 1939 .. 66.916,095 56.128,247 10,787,848 1940 .. 79,886,735 49.556.304 36,330.431 1941 .. 82.380,939 51,376,361 31,004,573 1942 .. 82.12.3.987 44,422,654 47,701,333 Fluctuations in the value of assets held abroad on account of New Zealand business at the end of May in the past five years have been:— London. Elsewhere. Total. £ £ £ 1938 .. 8,065,602 3,636,914 11,702.513 1939 .. 4,088,444 1.661,286 5,749,730 1940 .. 12,843,205 1,720,329 14,563,534 1941 .. 10,891,341 2,868,536 13,759,877 1942 .. 11,489,984 2,931,225 14,421.209