Banking Business.
o (Per Press Association.) Melboukne, Oct. 12 The quarterly banking returns show the advances as compared with last quarter have increased £133,000. The com and bullion held has increased £85,000, and now stands at a total of £7,776,000. Current accounts have increased by £1,380,000. Fixed deposits have decreased by L 2.846.000, The proportion of current accounts to total deposits has increased 6 per <*>«!*• Note circulation decreased L 32.000, and is now the least for 40 years. The Argus says the chief feature is the proof that the fixed deposit system for several reasons, including the low rate of interest allowed, is gradually going out of favor. , -, , - ■,■ The Age says the returns fail to indicate any recovery in trade ; on the contrary, the large reserves held by the Banks suggests that outlets tor the profitable employment of money are still limited. It says the balance-sheets of all the Australian Banks show that the earning power has been steadily in decline, and the strongest of the institutions are not now making profits, which will enabie them to pay anything like the dividends of the past.
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Bibliographic details
Feilding Star, Volume XVII, Issue 91, 14 October 1895, Page 3
Word Count
185Banking Business. Feilding Star, Volume XVII, Issue 91, 14 October 1895, Page 3
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