WELLINGTON NEWS

Hokitika Guardian, 23 June 1925, Page 4

WELLINGTON NEWS

SAVIN'US BANK BUSINESS. (Special to “Guardian”.) WELLINGTON, June 19. The figures ol' tlie i’ost Office" Savings llank are generally regarded as dr.v-as-dnst, but those who take the trouble to delve into the figures, in analyse them and make comparisons generally find themselves well repaid for their trouble. The new Postmas-ter-General 'Sir .lames Parr) recently furnished the Press with the details of the deposits and withdrawals from the P. U. Savings Hank, covering a period from January Ist. to April 30th. this year. The deposit* aggregated 810. 179,n l I and the withdrawals to L'O.li IS,.‘i 11. showing that the deposits exceeded with withdrawals liv £531,203. which represents the .savings ot the people dining the period. In the four months to April doth, there were 120 days, but as there ware if Sunday-. during the period there were actually Jl3 working day-, that is making no allowance tor holidays, of which there were a few. Rut Taking 113 days as r.rrecl the P.O. Savings liank handled on each day approximately CTi.U.IO which goes to show how very useful this institution is to the people. In -omo ot the larger centres, Wellington lor i:i--stance. there is a coniinttid rush ol husiiies's. and it is not unusual to sec the place crowded with women and girls. The aggregate figures quoted above include deposits and withdrawals at West .Samoa and Karalanga. which as may he imagined are very -mall in the aggregate. Dealing exclusively with the New Zealand figures the deposits aggregated £ It),! 30.020, and the ai 1 hdraxvals totalled £!Mitl. .- 3p(l. -honing an excess ol cbqxo-.iL-. over withdrawals of £33l.r;g|. Making a further di.s-metioii of the figures it is found liiat the deposits in the P.O. Savings Bank in the North Island, totalled !:(>.GOUfi! and the xvitlidrttwls to £G.170.738. the cxec-s of deposits over wtLlalrtiwal.s being £433,420. The South Island figures show deposits £3.544,8(50 and withdrawals to £3.4fiG.GGs'. tile excess of deposit- being £88.198. The South Island appears to have done very poorly and must either have no scope lor practising thrift or it may he that: they have no need to lie thrifty. The fact that ; the South Island deposits and xxitlidrawals acre little mere than half I lie

amounts .shown by the North Islam! ran be partly explained by the fact that the population ol the South Island is very much '-mailer than that of the North Island, but applying another test the position is far from satisfactory. The excess of deposits in the North Island over withdrawal* amounting to £433.42(5 is equal to Gl per cent, ot the total deposits. while ■he South Island excess of dope..,its over wt ihdrawnls amounting to £Ss.IPB is equal to only 31 per e nl. n; the amount nf deposits. fhe people rsing the P.O. Savings Bank in the North Island were uhl,. to save almost three times as much as those making use of the institution in the South L-laml. and Ibis di-parity is very striking and decidedly interesting, The export and import returns of the Sinitli Island al-o display a similar disparity with ilia North Island, and it is a phenomenon that seems to require intelligent iiivestigaI 1011. LONDON RUTTER MAI? K FT.

General satisfaction is felt nf the steadiness of the Loudon butter market. The iransporl strike in l>mmark gave the market a lilt, but that strike is new over and yet |»'i'vc ha"e j not cased which i- very i ■•nm rkabbs The Danes must have about two weeks’ supply on hand and as this is their llush month the output nni-t he pirettv heavy. Ihe sy-.tein el marketing adopted by the Danes is to cleat spicks weekly, indeed ilicy are lon in In think of Ir filing slocks. How they will liquidate ti ■ tirctimulaied surplus remains to la seen. II they lor, e sup] 'o'-; mi the market nrfiewill drop, hut oniistmint ion will increase. but if. on the other hand t!,"v |i..| | up. stock-, and maintain a high level of values coiisiimpi ion will decline and stocks; will tend to accumulate. During ihe lir.sl five months el the year the imporls of butter into the United Kingdom totalled ~ S3l..‘)i ,wt. as compared witli 2.291.300 owl. in the <■ irrcsp Hiding five months of la-i year, an increase nl 534.20 i text. 1 equal to about 2G.ri2 t ns. A Tmley Street firm writing P> it--* reiire.-cala-five in Wellington under, Day -11 h.. gives a very good idea ol the Hnctiiatit .ns of the market. Tin head ol the linn writes: “1 wish it wore possible to convoy (u our N.Z. clients, the c'xl i aordinary vagaries we have to markets nowadays, and the difficulty it is to maintain a lop lex".'! ot prices all Gil" time, our markets having become almost as nervous and erratic as tig. Slock Exchange. I’rfivs fluctuate a shilling or two Ir.un day to day. and very often you may have a boom and high prices in the loreimon xvill l a sag hack in the afternoon, and vie., versa. Then you may have an experience like last week, when the market was at ]G4s. We had Pmr l.niu.s in .lock witli 1 •-'!).o: l() tan inevitable surplus .over requirements) nnd yet. been use of slow discharge and what was discharged early ex these heal.-, being all ‘held’ butter, the market for the moment, was bare and jumped to I "2s, at which price it seemed to lie rampant for about two hours, and then buying rinsed like an oyi»ter and we sagged hack to 108 s.”