BANKING RETURNS.

Otago Witness, Issue 2370, 3 August 1899, Page 9

BANKING RETURNS.

The following are the bank returns for June quarter. 18S9, as compared with same quarter of 1898, and with the March quarter : 'June June March Quarter, Quarter, Quarter, Deposits— 1899. 1898. 1899. At intere5t.. £7,877 ,786 £7,742,745 £7,837,265 At call .. 6,042,207 5,835,043 5,769,555 Government 840,194 658,066 935,463 £14,769,187 £14,235,854 £14,542,283 Advances — Discounts ..£1,680,863 £1,716,286 £1,737,274 .Other advances .. 9,128,569 8,737,750 9,106,222 £10,809,432 £10,454,036 £10,843,496 Government and funded securities .. £801,835 £728,450 £928,479 Other securities held • ..£2,155,610 £2,297,474 £2,235,270 INotes in circulation. ' ..£1,186,714 £1,091,985 £1,121,720 •Coin and bullion held ..£2,691,741 £2,793,723 £2,719,498 This return shows, as might be exnected in the quarter which represents a large amount of realisation of exportable produce, a considerable advance in both open and fixed deposits, and aUhough there is a reduction en >the quarter of Government deposits, on the whole account there is £220,000 increase of deposits, and on the year of over hall n million. The advances have gone up £350.000 on the year's comparison, but are reduced by £34,000 on the quarter. The most favourable feature is the large and continuous increase in note circulation— £6s,ooo for the quarter and £95,000 for the year, and the figures are the largest yet known. Since June, 1897, the • increase is £150,000, and as notes are only temporary payments, not usually held long in hand by the recipients, this must indicate a much brisker trade, and more wages in the hands of the working classes from week to •week. The very favourable balance sheet of the Bank of New Zealand leads to the conviction that our apparent prosperity and progress is real and solid, and some of the money •3ying at call to such a large amount, will, aio doubt, be invested in mining ventures, of {which dredging is now the favourite form and apparently the safest, and' leading to such rapid returns on the amount invested. It is, ■of course, quite possible to have too much iof a good thing, but as there seems at present to be no hesitation in taking up new .ventures as soon as announced, it is to be presumed the investors see their way to pay ihe calls, or to unload before their shares Ibeconie too burdensome. There is plenty of money in the banks; it remains to bo seen [whether it belongs to people willing to invest in the hope of good returns.

fhe Logan Berry is sold by Niifiio and : Blair, and is the finest berry of its class. It s a cross between the raspberry and blackaerry, and cannot be excelled for jams or ellies, having a most delicious flavour.. Price, h 6d eaohj or, if posted^ 5s each.