BANKING RETURNS

Evening Post, Volume CX, Issue 138, 9 December 1930, Page 12

BANKING RETURNS

GROWTH OF ADVANCES The weekly returns of the six banks trading in the Dominion as at 17th November showed:— /£ Government deposits 1,729,550 Free deposits ".....,, 18,312,976 Fixed deposits 32,867,117 Advances 53,433,418 Bills discounted 1 ; 139,043 Note circulation 5,877,330 Coin and bullion ' 6,867,541 Ratio of advances to deposits, 103.14 p.c. The Government Statistician, reviewing the volume of debits placed to individual accounts (including Government accounts) during the month, states that they show very little movement compared with the previous month, but a recession of 12.3 per cent, as compared with October, 1929. The cumulative total for the ten months records a decline of £13,----500,000, or 8 per cent. Deposits show a decrease of approximately £1,200,000 for the month of Oc-, tober, as compared with September, Government deposits decreasing by £330,000, and other deposits by as much as £830,----000. October shows a recession of £1,260,----000 in free deposits, while those on fixed terms increased £428,000. As early as April, a prominent tendency waa displayed for new deposits to be placed at fixed terms only, and also lor a certain proportion of the money at call to be gradually transferred into fixed deposits. Tfiis tendency has been maintained during the ensuing months, and for the period of seven months since it became evident fixed deposits show a continuous increase, amounting in the aggregate to £2,260,000. On the other hand, the amount on current account has decreased by £5,000,000. Advances have recorded a gradual rise during the last four months, and this, combined with the decline in total deposits, has increased the ratio of advances to deposits from 90.6 per cent, in July to 100 per cent, in October.

MOTUROA OIL PRODUCTION

The secretary, Moturoa Oil Fields, Ltd., Mr. F. H. Bass, has received the following report, for the week ending Oth December:—"Withdrew 2500 ft six-inch casing, bailed hole to bridge at 2285 feet to test, for production, -covered twenty barrels of oil during bailing operations."

BLACKWATER MINES RETURNS,

Returns of lilaekwater Mines, Recfton, for November, 1930, are: Crushed 3450 tons, yielding 1020 fine ounces of gold valued at £4329; working expenses, £4983. In addition the furnace treated.B3 tons of concentrates for a return of 103 fine ounces of gold valued at £437. Working expenses, £131; working loss, £348: development, £88G; capital expenditure, £37; loss over all is £1271, which will be reduced to approximately £902 by the gold premium1 to "be ;obtaincdi