BANK RETURNS

Waikato Times, Volume 124, Issue 20718, 31 January 1939, Page 10

BANK RETURNS

DECEMBER TRADING RISE IN FREE DEPOSITS (Special to Times) WELLINGTON Saturday The monthly statements of assets and liabilities of the six trading banks at the close of business on Monday, December 20, were gazetted last night. A comparison of the principal items with the figures in the return at November 28 is as follows: December November Ci reu lati on .. 13,O'ti 9,9 60 1013-6 0,3 97 | Free deposits .. 35.17 1.765 32,707.151 ! Fixed deposits .. :>9,?95,007 '30,151.592 ■ London assets .. 2/755i235 3)«jiS G. 111 | Advances, which had risen continu- | ously from £54,707,482 in the return at the end of July to £58,907,633 at the close of November, are £1,110,226 lower at £57,7 97,407 in the latest statement. The note- circulation, £13,069,960, is approximately £2,500,000 greater than at the end of November, this representing the increased holiday demand for casli currency. Free deposits increased by £l. *64,61 4 j during December, while fixed deposits fell £356.585. London assets held

on account of New Zealand busines are £900,8 7 6 lower in the latest state

ment, compared with the level a month before. Notes In Circulation j Notes of the Reserve Bank held as I till money at December 26 were val--1 ued at £3/571,665, compared with £4,*026.967 a month before. The issue I at the end of December was £16,641,625, making the active circulation £13,069,960. Free deposits, or current account balances, are some £1,190,000 lower in this December return than a year previously. They are, however, substantially higher than at the same period in any other year since 1934. The total in December of that year was £10.000,000 lower than at the close of 1938. Fixed deposits have decreased continuously since 1935. the fall in the pas', 12 months having been over £2,600,000. 1 j The greater volume of bank lending I in the past year is indicated by the j fact that advances at the end of l)e- ---. ! cenibcr w-re nearly £3.So<>.ooo higher , ! than they were 12 months previously. > ! The total of £57.797.000 is almost ; ! £13,000,000 greater than at the close [_ of December in 1934. As a result. the excess of deposits over advances ! shrank from £16,036,000 five years ago to £6.172.000 in the latest return. I Subsidiary coin in the banks at De- . cernber 26 was valued at £6'*4.871. i compared with £815,221 in the Novems ! her return. The banks also held gob. I (valued at £486 at the end uf Deeem--5 her.