WHAKATANE’S NEW SAVINGS QUOTA IS £15,340

Bay of Plenty Beacon, Volume 15, Issue 64, 3 July 1950, Page 5

WHAKATANE’S NEW SAVINGS QUOTA IS £15,340

Whakatane and surrounding district post offices are included in the drive by the National Savings Committee to raise £10,500,000 by March 31 of next year. Last year Whakatane gained its quota, but A has now been raised considerably. It is the same for other centres.

The quota set for Whakatane during the coming year to March 31, 1951, is £15,340 but it is expected that this figure will be passed and something nearer £IB,OOO collected. At Taneatua the quota is £1612 but £IBOO is expected. At Waimana the target is £I3OO bujt the district will probably be near £2600. Te Teko is £1092, which should be ovex-paid to about £I2OO, Matata, which includes Edgecumbe" has a quota of £IO4O but postal officials think that the probable total will be £llOO. 1 Each year most individual quotas are. increased. This increase is arrived at by taking into account the natural progress of the various centres and the ever-increasing population

Post office authorities at Whakatane have expressed their confidence that individual quotas will be reached without any difficulty. They consider there is even a possibility that the quotas will be well passed. The money from the drive is to be used to assist in financing important works necessary for the development of New Zealand, according to the chairman of the National Savings Committee, Mr T. N. Smallwood. He said that an effort was made to expand the National Savings group system, thus giving salary and wage earners the opportunity of saving week by week.

Since April 1 last over £2,000,000 has been invested in National Savings and 85 of the 358 towns with annual targets allotted have exceeded their objectives.