Untitled

Hokitika Guardian, 15 May 1930, Page 4

Further particulars available of the operations of the Hokitika Savings Bank for the past financial year, show that the period was another successful one for the institution which continues to retain the confidence of its patrons and the public generally. The amount lodged by the depositors for the year was £52,572 as against £48,393 the previous year. The withdrawals were £47,713, as against £40,(518 over the former period. The •amount of interest earned by depositors for the year was £5.548, which was an advance of about £.500 above the amount earned for the previous year. The fotal deposits with the Bank now are £125.024, having increased during the year from the previous balance of £124,617. The Bank inverted on mortgage during the year £18,291. A year previously the amount under that head was £17.253. Over the year £15,307 was repaid bv mortgagors. In the former year the repayments totalled £14,061. The interest received for mortgages was £4,501 as against £4,45)2 for the previous year. The total amount of money on mortgage is £82,IMB, having increased during the year

from £79,763. The earnings of the Bank interest from other sources than mortgages was £2,760, as against £2,133 the year before. Also during tire year, the Bank purchased Government bonds to the value of £IO,OOB, making a total of the Government holdings of £24*008. The total funds of Lite Bank now stand at £156,110. The charges for management were £797, which is about one half per cent on tiie funds handled. The year shows advancement under all headings, and must be considered a satisfactory one. The deposits increased by no less a sum than £10,426, indicating the popularity of the institution for handy investment. It is pleasing to see the thrift of the people thus manifested, and it is gratifying to. know in particular that the numher of depositors is increasing. The Bank has done the town good service from time to time with special donations out of its accrued profits. The total donations in this manner lias been £3.-500, of which £1,925 has been contributed to the Westland Hospital. The survey of the Bank’s affairs gives proof of., its solidity, which must be a reflection of the capable management with which its affairs are controlled.