Savings Bank Returns
The Savings Bank returns for the past quarter exhibit a most exceptional and, we believe, unprecedented feature. In every district of the colony the deposits exceeded the withdrawals, the total excess for the quarbeing £48,252 ; whereas last year the withdrawals exceeded the deposits by £1970. The total -amount for the quarter's deposits was £401,017 as against £325,591 last year, a very large increase. The withdrawals amounted to £352,764 against £327,---568, but the great increase in deposits covers this, and still leaves, as above stated, nearly £50,000 to the good. The largest deposits were in Christchurch (£79,778), Wellington coming next (£72,471), Dunedin (£67,869) third, and Auckland (£50,790) fourth, i but the largest excess of deposits over withdrawals (£11,101) was in Christchurch, Timaru (£4906) coming next. There is always a diversity of opinion as to the deduction to be drawn from these returns. The large excess of deposits may mean either that the people are saving their money more carefully and are acquiring improved habits of providence, or it may mean that a difficulty has been experienced in providing safe and satisfactory investments. Possibly both explanations may be sound. — N.Z. Times.
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Bibliographic details
Feilding Star, Volume IX, Issue 112, 21 April 1888, Page 2
Word Count
192Savings Bank Returns Feilding Star, Volume IX, Issue 112, 21 April 1888, Page 2
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