NATIONAL SAVINGS

Opunake Times, 2 April 1948, Page 3

NATIONAL SAVINGS

EXCELLENT PROGRESS WELL OVER TARGET In an interview Mr. T. N, Smallwood, chairman of the N.Z. National Savings Committee, revealed that the National Savings receipts from April 1, 1947, to January 15, 1948, totalled over £7,100,000, which is £IOO,OOO above the targeT set at at the beginning of the financial year. “This is a remarkable achievement,’’ said Mr. Smallwood, “when it is considered that thistotal is £1,500,000 in advance of that received in the same period last year, and emphasises _ the great progress made bv National Savings and clearly indicates its popularity. “The total invested in National Savings since the inception of the scheme t 0 February 15, nearly 7J years ago, is approximately £54,589,045, which is made up of £12,506,838 from the sale of Bonds and £42,082,707 deposited in investment accounts. This latter figure is spread over approximately 520,476 National Savers and represents an aggregate of £BO investment in each account. Enthusiasm Displayed

“The enthusiasm displayed in all districts,” continued Mr. Smallwood, “has made this period a record one, the average weekly receipts to National Savings for the 41 weeks being £173,170, and 330 out of a possible 352 local annual quotas have been achieved as against 301 for the whole of the preceding year.

“Another encouraging feature is that 20,288 new group and individual accounts have been opened since April 18 in comparison with 14,772 at the same date in the previous financial year. “Tire strong support accorded this popular thrift movement is much appreciated,” concluded Mr. Smallwood, “and we look forward to further records being established in the coming year.”