BANKING RETURNS

Hokitika Guardian, 18 January 1921, Page 4

BANKING RETURNS

[BY TEl.ptiPAPH—per pit ess association]

WELLINGTON, January 12.

When dealing with the banking returns -a . year agP,. when the deposits , showed an increase of over £10,000,000. t and the advances a shrinkage of over a j million, it was stated that it would be simple enough to deduce more than the figures really indicated. 'l’lic returns for the December quarter of 1920 are strikingly dissimilar to the returns fo the corresponding quartcir of 1919, for while there is now an increase or over £13,000,000 in the advances, there was then a decrease, as already stated. The principal items m the returns for the past quarter slow the following movements: Government deposits degreased 2,371,196 Free deposits increased 2,803,69. Fixed deposits increased ... 1,083,221 Advances increased 13,851,40 < Discounts increased 1,160,132 Circulation increased 997, <2/ Coin decreased 205,322 Legal tender increased 265,4.9 The comparison is with the corresponding quarter of 1919. The aggu gates of the deposits for the two p-- ’ riods compare as under : Deposits: Government, December ' 1919. £7,491,197; December 1920, Co.i 120,001; Increase £2,3.1,196. Deposits: Free, December 1919.

£30,136,002 : December 1020, £39,93.*, • 739; Increase £2,803,697. Deposits; Fixed, December 1.919, £13,433,913; December 1920, £16,517,131; Increase £1,083,221. | Totals: Deposits December 1919, I £33,061,172; December 1920. £54,576,891 ; Increase £1,515,722. Although the Government deposits are substantially lower, tlie aggregate shows a satisfactory expansion. The increase of £2,803,697 in the free deposits was shared in by all the Iwinks, as the table appended discloses:—Hank New Zealand, December 1919. £11.107,578; December 1920 £15,522 - 765; Increase £1,415,187. I'nion Ilank: December 1919 £3,741, 113; December 1920 £3.869.601; Increase £128,486. Hank New South Wales: December 1919, £3,617,325; December 1920, £3,865,429; Increase £249,904. Hank Australasia; December. 1919, £3,235,093; December 1920 £3,567,61 J Increase £332,521. National Hank: December 1919. £4,822,939; December 1920 £5,294,2)5; Increase £471,376. Commercial Bank: December 79!9. £6ll,Bl2;.December 1920 £820,135; in-

crease £208,323, Totals: - December 1919 £30,310,062; December 1920, £32,939,759; Increase £2,803,697. The fixed deposits have increased from £15,433,913 to £16,517,134, and in this increase also all the banks shared, the Bank of New Zealand securing considerably more than half the actual increase, The figures of the several banks compare as under: Bank New Zealand: December 1919, £7.772,260; December 1920, £8,412,330; Increase £640,070. Uniotr Bank; December 1919, £1,727 307; December 1920, £1,803,349; Increase £76,042.' Bank New South Wales: December 1919, £2,419,407; .December 1920, £2 507,354; Increase £90,947. Bank Australasia: Deg-emlier 1919 £1,116,050; December 1920 £1,117.710 Increase £1.660. National Bank; December 1919, £2,268,548: December 1920, £2,161,,4‘i; Increase £193,198. Commercial Bank : December 1919, £133,341 ; December 1920, Increase £Bl 304.

Total: December 1919, £15,433,913 ; December 1920, £16,517,134; Increase £1,083,321. The fixed and the free deposits combined exhibit an increase of £3,836,919 but if the Government deposits are included, the increase is only £1,515,722. In the six years the free deposits

have increased by 150 per cent., the fixed deposits by about 60 per cent , and the total deposits have been more than doubled. Now wo come to the advances, the most interesting item in the return and the advances show the abnormal increase of £13,851,407, as compared with a shrinkage of over £1,046,000 a year ago. All the banks have been called upon to provide accommodation, and the pressure on the institutions musthave been .very .severe during the past three months. The movement in the advances are disclosed in the following table: Bank New Zealand: December 1919, £14,135,550; December 1920, £19,931, 835; Increase £5,962,285. Union Bank: December 1919, £43, 597,797; December 1920, £5,921,800; Increase £1,565,003. Bank New South AA'alcs: December 1919, £3,014,056; December 1920, £5.

105,576; Increase £1,491,520. Bank of Australasia: December 1919 £3,983.269; December 1920 £5,472,722 Increase £1,489,453. National Bank: December 1919, £4.222,491; December 1920, £7,277,562; lnctrease £3,055,071. Commercial Bank: December 1919, £377,888; December 1920, £831,963; Increase £454,075. Totals: December 1919, £30,698 - 051; December 1920, £44,544,458; Increase £13,851,407. The increase is equal to 43 per cent and it is the first time for many years that such an increase has been noted. The discounts, too, have expanded, the figures lieiug £2,573, 837, as against £1,413,705, an increase o} £160,132, equal to nearly 80 per c en t-

by Mr Zumoto, of the Japanese Diet. It was practical, direct, honest It was the speech more of an educated Scotchman), who looks at facts squarely, rather than the speech of a courtly Oriental clouding his meaning by obscuring words and mystic symbolism.”