SAVINGS BANK.

Gisborne Times, Volume VIII, Issue 471, 12 July 1902, Page 2

SAVINGS BANK.

The Government .Savings Bank returns, which appear in the Gazette to hand by Just mail, afford interesting reading. One fact that stands out is* that of the chief post-offices in the colony Gisborne and Oaruaru are the only two where the deposits exceeded the withdrawals for the year ending 31sc March. In all the other centres .the withdrawals exceeded the deposits. A probable reason for that is that there was an unusual amount of holidaymaking last year. But we arc sure that the people of Gisborne enioyed themselves as heartily as did those of any other part of the colony, so that if holiday-making is the reason for the difference, it is evident that in Gisborne hearty enjoyment was found to be quite compatible with economy in the method of spending holidays. ‘ It would hardly be contended that there, was a greater earning power in Gisborne, when we take into account the fact that last year the city artisans with the aid of various devices for tlie raising of wages, had a substantial increase in wages, and the increased cost of living entailed thereby did not set in until some time later in the year. On the other hand, of course, the weather conditions for work were perhaps more favorable in Gisborne, and that when the work is available makes considerable difference in the earnings in a year. In Gisborne district on the 31st December last there was a total lying to the credit of depositors of £79,23-1 Iffs Id, the excess of deposits over the withdrawals for the year being £3llO Ms 1 Od. An interesting fact in connection with the Savings Bank is that since its inception in 1307 the deposits have risen from £71,000 at the end of the first year to 6A millions at Die end of last year.' The number of the branches inis increased from 10 to the present total of 100.