BANK RETURNS

Hokitika Guardian, 13 January 1930, Page 2

BANK RETURNS

DEPOSITS INCREASE.

(By Telegraph—Per Press Association.!

WELLINGTON, Jan. 10

The banking returns for the last quarter of 1929 reflect rather a heavy increase in imports. ’ To finance these the banks have been drawn upon. There is a big increase in the advances.

At the same time the free and fixed deposits in the banks have expanded, particularly the latter. The Government deposits have contracted by about £600,000, as compared with the corresponding quarter of the previous ye]ar. The deposits (free, fixed and Government deposits) totalled £53,732,096 in the 1928 quarter, and £55,015.135 in that of 1929. The demand deposits in the last quarter of 1928 were £22,179,784 and in that of 1929 werd £22,728,494, an increase of £548,746. ; The fixed deposits in the 1928 quarter were £29,481,658, and in the 1929 quarter were £30,682,239, an i lip reuse of £1,146,581. The advances in the 1928 period were £4,681,084 and in 1929 were £52,012,587, an increase of £5,801,903. The aggregate of advances and discounts for the quarter was £53,80/,931, whilst in 1928 the figure was £48,101,104. The excess of advances over deposits was £451,198, but in 1928 tliere was excess of deposits of £3,560,302.