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Hokitika Guardian, 11 May 1926, Page 2

Those connected with the Hokitika Savings Bank whether in the management or as depositors may feel not a little pride in the fact that the Bank at the recent annual balance passed the £IOO,OOO mark. The Bank as its name implies, is devoted to savings, and it is pleasing to find that the community is so definitely thirfiy as the figures imply. There are some line Savings Banks in New Zealand, the earliest established being Auckland in 1847. This Bank has had a wonderful record and its funds and deposits now exceed four million pounds. New Plymouth in 1850 was the next to establish a local Savings Bank, followed by Dunedin and Invercargill in 1804. Hokitika’s was established ni 18(5(5 or sixty years ago. Over that period it has flourished steadily and consistently and the returns available to-day show that it is prospering very pleasantly. The total sum on deposits at the 131st March was £100,485. and there were 1591 depositors. The amount deposited during the year was £42,19(1, and the withdrawals £10,013(5, showing a surplus of £2,157, which despite dull times ami other causes, places the Bank in an enviable position, and shows the tendency for denfiite thrift or savings on the part of the people. As regards business done through the district, the sum of £20.1315 was loaned during the year and the repayments on account of loans were £10,403. Despite this the funds for the year show a credit balance of £19,7513. The securities of the Bank are well invested, and a substantial amount is on fixed deposit or at ready call. There is invested on mortgages. £07,051, in Government stocks and debentures. £21,050, in local body securities. £3,970; on fixed deposit and current account. £25,837. The business of the Bank is being closely attended to, and the funds are well conserved. During tlie year a donation of £450 was made to the Public Library, a verv generous contribution to help a worthy public institution. The Bank is now rebuilding its premises in permanent material. An edifice in brick is in process of erection on the old site in Hamilton Street, and the new building will be some architectural adornment to the town. This outlay is well and fully justified, for the Dank lias helped liberally with its funds in regard to oilier buildings hereabouts, ineluding the Westland Hospital, of which the community is so proud. The attention to its own appearance if not overdue, is certainly well-timed, and the new premises will in themselves be an advertisement ol the prospering and solid condition of this important local financial institution. The Hokitika Savings Bank lias a very useful period behind it, reflecting all credit on those connected with its foundation and management, now over the long-extended period of GO years.