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Gisborne Times, Volume IX, Issue 848, 24 March 1903, Page 1

Bank balancing may cause some little stringency for a time in this colony, says the Auckland Observer. The Union Bank is balancing now, the half-year having closed on 23th February. The National Bank and Bank of New Zealand balance at the end of the current month, and the Bank of Australasia on the 15th April. The balancing of the two local banks is of more importance, because their business ramifications extend all over the colony, including most of tho small townships. It is this balancing that generally makes the first quarter of the year comparatively dull. Not that there is any lack of funds, but traders have a fondness for showing a good bank pass-book at the close of the hanking year.

At one time the granting of a money vote by tiie House was looked upon as decisive. There might he difficulty with the Government in getting it put upon the Estimates, but once it was there, and was passed by Parliament, it was sure to be expended. But now the passing of the vote is merely a preliminary stage. The crucial thing is the final authorisation by Ministers. Unless the proposed expenditure meets the approval of Cabinet—and Cabinet meaDS the Premier—the vote is blocked, and comes up at the end of the year as a lapsed appropriation. Many districts that hugged themselves on getting the promise of public works have in late years discovered this to their cost.— Observer.

It is expected (says the Wellington Post) that the selection of the Civil servants who arc to he retired on account of having reached the age limit will lie decided upon soon. The latest phase of the retrenchment scheme is I lie issue of a circular I" heads of Departments requesting them to name those "officers who are 65 years of age and over who may hr regarded as experts. This is taken to mean that there is a probability of some Civil sen ants with special knowledge of their work being retained in the service for some time to come.

For the year ending 31st March, 1902, 271 mortgages, representing £254,649, were registered. The amounts advanced included nine over five thousand pounds each, which represented £102,800 of the amount. The rates of interest paid were 4, up to 10 per cent.; £18,607 was advanced at 6 pet- cent,, £12,136 at 7 per cent., and £11,046 at 7£ per cont. Two hundred and seven mortgages, representing £184,239, were paid off during the year.