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Hokitika Guardian, 9 May 1930, Page 4

Tub advantages of thrift are being brought to mind by the particulars published of late in respect to the private savings banks. The two institutions at Auckland and Dunedin are of course outstanding because of the large population served, but it is pleasing and as interesting to learn that even the smaller institutions ol the class referred to—such as Hokitika —are also making steady progress, and from year to year this is manifested by, the • annual balance sheets. At Hokitika, in sympathy with other similar institutions, an increase in deposits has been shown. The (public banks showed a decrease, but so rar as the thrift of the customers of the pavings Bank is concerned, an advance is being shown. The local bank now has large sums in its keeping and the profits are slowly mounting up. These are distributed from, ’time to time for the benefit of "various public utilities. The hospital, public, library and other useful institutions have benefitted frojn time to time, and no doubt other hendlactions will be made as the years go by. The accumulated assets of ti>e local bank now stands at £156,110, while the ..depositors’ credits total £135,024.- , There are in. all .1828 depositors,,, so,That the average account stands at,,upwards of £7p..- This indicates that the thrifty people are not few in number in a town with a population of 2,500; Of course, some of tiie depository i would represent; ■ country clients,. ..but the great majority are town .dwellers, and the habit of saving is a ,'goqd asset at . a time when thrift is. called for specially to meet the difficult times which rec.ur; rather unexpectedly just iio.wVMnhe local bajik’s assets are we}l invested, a large sum being of the- nature of liquid securities. The surplus profit over anu above the bank’s liabilities to the depositors, is the very fair margin . ot £21,085, wlfleh sum represents the profits at the close of the::year. The local bank has grown up with the district. It had very small .beginnings back in the early days. It is pleasing to find it still a flourishing entity in the well-being of the district. Though the bulk of depositors are ; in town, the largest ;^ie: borrowing clients 'are in the coiintry, and the town is thus lending a helping hand to the envirous as a means to assure the general 'prosperity in which all may participate. It is a happy arrangement and is another e^atuple, of how money goes round,