WELLINGTON NEWS

Hokitika Guardian, 12 April 1927, Page 4

WELLINGTON NEWS

AUSTRALIAN RANKING. i (Special to “ Guardian.”) . WKUJNCTON. April 8. Most, of tlie hanks in Australia and 1 New Zealand can now boast of some 1 ago. and some interesting statistics in connection with the matter were given by Mr George Meudell. K.S.S.. i in a plt|>er read by him before the Historical Society of Vitoria on February 28th. The Rank of New South Wales is the oldest bank in Australasia. for it was established as far back as 1817 with a paid up capital ol £.'(025. The paid-up capital now is £7.500.000. Two Veins later, in 1810. tho Government Savings Rank of New South Wales was established. These two institutions were apparently sidlt- ; cient for the needs of the country for I many years, tor it teats not until 18(1 , that another institution came into ex- j istence. This was the Commercial, Ranking Coy., of Sydney, with a paid- i up capital of £30.000. In the follow- > iiig vear. 1835. the Rank of Austral- | rsia. with a capital of £200,000 com- | inenced business, and two years later, j in 1837. the Union Rank of Austral- | ia with £208.030 of paid-up capital j was established. In 1841 the Moslem j Australian Rank with a paid-up capi- 1 tal of £200.000 set up in business, but this institution has "just been absorbed | by the Rank of New South Wales. The I first banking institution in \ ictorn. ; appears to have been the State :'tvmgs ' Rank, which was established in 1812. | The Rank of with paitl-n; < • ,iitiil of £500.030. came into existence in 1852. but the bank now loses its identity, for it has just been absorbed by the Commercial Rank of Bvd. ney. The F.ngli'h. Scottish and Australian Rank with u capital of £25 1.(>OO, and the Australian Rank ol Commerce were also established in 1802. the gold diggings no doubt being responsible fur these bulks being established in that, year. Six years later the National Rank of Australasia with a * lpital of £3O 5113. came into existence. The first joint stock hank to be established in N.Z. was the Rank ot N.Z.. which started in 1801 with a paid-up capital id £loß.iS ; >. 1 be Rank of Adelaide with a capital of £7S,COT. and the Rallarat Ranking C’oy. with £7393 of paid-up lapibd cummer,red operation in 1805. and in the lolloping year the Commercial Rank ol Australia. with paid-up capital of £IOO- - (iimc* into existence*. years later, in 1872. the National Rank .of New Zealand with a capital of £183.334. and the Queensland Nation’.! Rank with paid-up capital oi £l0o.82(; were established. T hen tallowed a long interval and in 1888 the Royal Rank of Australia with £303.909 of paid-np capital commenced business. Ibe Royal Rank lias just been absorbed, by the English, Scottish iml Australian Rank. In 1911 the Commonwealth Rank was ot I «ilil ritifl in lll<* I'l’illUll’N

cnee. The first joint stock hank to be established ill N.Z. was the Rank ol N.Z.. which started in 18(11 with a pa id-up capital ol £138., So. Ibe Rank of Adelaide with a capital of £7S,ROT. and the Rallarat Ranking Coy. with ,07393 of paid-up inpihd commenced operation in 1805. and in tho lolloping year the Commercial Rank ol Australia. with paid-up capital of £IOO,--17 (time* into existonct*. »x years later, in 1872. tlm National Rank .of New Zealand with a capital of £183.334. and the Queensland Nation’.! Rank with paid-up capital of £l0o.82(; were established. Then tellop'etl a long interval and in 1888 the Royal B’-ttk of Australia with £304.909 of paid-np capital commenced business. .1 be Royal Rank lias just been absorbed by UnEnglish. Scottish uni Australian Rank. In IhJl the Commonwealth Rank was established and in 1913 the Primars Producers’ Rank came into existente. The total assets of all the banks mentioned •'mounted last year to the huge sum of £714,794.400. POSITION OF WAGK EARNERS. In Bulletin No 27 issued by the Department ol Economies ol Canterbury College, the position ot the Page earners is discussed and the relative numerical importance analysed. It is shown from official figures that over that part of our population actively engaged in industry, there is on an average exactly three wage earners to each proprietor. The proportion oi male wage earners R a little less tlitm lliis; that of female wage miners esnxidernbly greater. The figures given show that there are 123.409 proprietors. and 370,099 wage earners. The distribution of both proprietors and wage earners over the various industrial groups show that, the number of proprietors engaged in primary production is 09,099 or 50.8 per cent ol the total number ol proprietors. The number engaged in industries is 19.700. in tramp - ft- and communications 4.000 commerce and finance 16,C00, public administration and professional 7.0)9. and ilomcstie and personal service 4.709. The wage Aimers in primary ornducl ion is 7] ,993. in industries

08. "CO. transport anil communication 50,300, commerce and (inance 50.700, public administration and professional 42.500 and domestic and person d service 80 Cl').). In primary production the nil inner oi prapi ictoi'.s almost equalthe number of wage earners. 11 is commonly assumed that the Arbitration Court settles wige disputes between wage earners and their employ ers, but. wage earners approach the Court only through their registered ■rad;- unions. The Bulletin points out fAlt of 402,000 wage earners only 409.5C2 or 25 per cent were financial members <.f trade unions in l!)2->. The Bulletin concludes: "It is difficult to see how the unsheltered industries, receiving prices only about -ill per cent above pre-war level for their products ran afford to buy at present prices their usual quantities of goods produced by the sheltered industries; or how ail the workers cm continue to he employed in those industries if the market for their products is curtailed because buyers* incomes are unequal to sellers' prices. Is this a cause ot the present unemployment problem? The question raises large and important issues.”