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Hokitika Guardian, 9 November 1921, Page 2

111 K Hokitika Savings Bank announce to-day that the rate of interest to depositors is increased from 4",, to 41 ‘. on monthly deposits from October Ist.. 1921. This Bank, which is one of the live institutions in New Zealand established under the Act of 1852 was start-

ed in 1866 by the energy of Mr Archibald lionar Scur., who had had pr. cticiil experience of the value uf Savings Banks in Scotland prior to his arrival in Hokitika. Since its initial stages, the Bank has never looked back. The deposts have increased hv forty thousand pounds in the hist ten years and now amount to 685.1KK) tin 1 total funds being over 6100,000. When it is considered that the amount of each depu-it is limited, the fact that there are 13'* ; depositors in a town with a population of slightly over 2000. it speaks well for the popularity uf tile institution. The annual balance sheets. ] uhlis'-ed in the New Zealand Gazette show that the figures compare very fawmi.iljc with other Savings Hanks iu the Dominion. The Rank is in every way a public institution and lias always given liberal donations to local needs. Th * Hospital, the Free Library and the APuseum have each been benefit ted by the Hanks ,lonnthms. Tic* special facili-

ties offered to the small investors have made the institution a very popular one with the general public and there can he no doubt that judging from its activities in the past the Bank will not only continue to hold hut substantially increase the capital handled. The encouragement of thrift in the population is a very laudable object and many children know the value of the institution. Under the rules, children over seven years of age can work their own account as depositor, and as deposits are received from one shilling upwards it is seen that the Bank gives every encouragement to the younger

members of the community to learn saving habits. Since its inception the Bank lias been governed by local trus-

tees of integrity and commercial standing who earofeiillv supervise the transactions, while the management is in very safe hands. The institution is undoubtedly a credit to the town and district. Long may it flourish in the land.