BANK OF NEW SOUTH WALES.

Taranaki Herald, Volume LX, Issue 143980, 24 December 1912, Page 3

BANK OF NEW SOUTH WALES.

The balance-sheet of- the-Bank- of New South Wales for the half-year ended September 30 will be found in another port of this issue. The Chairman, Sir Normand MacLaurin, in dealing with the figures at the, meeting of shareholders in said;: ‘‘The deposits now show tho small increase of £290,000 in tho aggregate. For your information 1 may state that the. fixed deposits from the public show a fair increase; the current accounts derived’ from the same source a small increase; while oh the other hand- there is a. considerable decrease in the: aggregate, of tho deposits held from the Qommonwealth and tho various State Governments .which keep accounts .with us. The arrest-in the growth of the. deposits is a feature of banking generally: in Australasia at present It may, ,in brief, ho ascribed to a, spending im-pulse-public and arisen out of a rather rapid expansion of the deposits, in the few preceding years. This impulse has outstripped) for the time being, the accumulative; power-derived from'tho money rqcjeipfp for our primary products. The expenditure referred to.has manifested itself in directions which have caused an increase in the imports, and as there, baa been no corresponding increase in the: exports tho annual ; savings of the people, as reoresented by deposits, have decreased. The bills payable account to Some extent reflects tho situation likewise. There is a largo increase here of. £671,000, but; in this case tho increase is to a great extent due to trade requirements of ■an exceptional nature on the import side, which may be viewed:as abnormal and not likely to recur. On the assel side, coin and its equivalent “have decreased £350,000. But short call money in. London; is more by £206,000. Government and municipal securities are less by £137,000. while' bills receivable in London and remittances in transit are more by. £208,000, due to operations in connection with the bills payable expansion referred to just now. The aggregate of all these accounts, which wo consider to bo our specially liquid assets, is only . S()mc £85,000 less than at September, 1911, which is a purely nominal difference.”