MONEY MOVING OUT.
SAVINGS BANK DEPOSIT DECREASE. [From Our Correspondent.] WELLINGTON, April 25. A movement of money out of tho Post Office Savings Bank, which may be stopped by the recent increase of 'interest to Bj| per cent, is shown in the figures for the quarter ended March 31. Apparently this is usually a period of heavy deposits; in fact during tho first quarter of last year the deposits exceeded withdrawals to the extent of £295.789. Tins year the position is reversed, withdrawals exceeding deposits by £57,092._ The withdrawal movement showed its greatest strength in. Christ-church and Dunedin, the exoeas over deposits in each city heing over £24,000. Auckland participated in the movement with a modest £736, but "Wellington showed an exo&r.s of £969 in its deposits. Wanganni deposits made tlie biggest upward move, the increases having exceeded £19,000.
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Star (Christchurch), Issue 10753, 26 April 1913, Page 8
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139MONEY MOVING OUT. Star (Christchurch), Issue 10753, 26 April 1913, Page 8
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