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Hokitika Guardian, 18 April 1932, Page 4

The banking barometer of the district as revealed by an advance copy of the. annual returns of the Hokitika Savings Bank, rs set at a promising figure. In point of fact it is a rising barometer, and that is hopeful indeed at a time when in other directions the portents are not buoyant. In these times called depressed, the Bank has come through the*' year with, the largest figures in it© lristrry. There is another-aspeot of promise too. The number of youthful depositors is increasing continually, and thrift is taking root on the, right soil. There is yet another aspect of the pleasing C'ituation. The figures in analysis show that the increase is not owing to more money in the aggregate being paid in, but that-depositors have not drawn so freely as in the prosperous, years. Folk are living—shall we say more frugally or wisely ? The Bank also is keeping step with the times. At the request of the Government- in regard to a- phase of the economy scheme, the Bank reduced interest to depositors by one half per cent., and extended the benefit of « like reduction on interest charges to mortgagors. That was equitable. In late years, it is interesting, to know the funds on deposit have more than doubled. For Instance in 1913, there were £53,000, while this year’s total is £136,000. In all there are 1803 depositors. It may he gathered that generally the finances are sound, and behind that stability there, is a large reserve fund. During the year nearly £40,000 was lodged in the Bank, and the interest ort'dit-d to dc-postor-j wn?| £5,300. Against this £45,300, there were withdrawals of under £42,000. The total deposits stand at £136,125, over £4,500 increase for the year. During the year nearly £16.000 was invested on mortgage as against £IO,OOO the previous year. Mortgagors repaid £lO,000 a© against £11,500 the previous year. The interest paid on mortgages was £4,589, or £2 greater than last year. The total of the mortgages is £84,000 against £90,500 of the former year. On its reserve investments £3,300 was earned, being £SOO less than the previoura year. The total funds stand at £158,600, being a gain on the year of £4,150. Tri recent years the Bank had donated £3,680 to various public purposes, nearly £2,000 of which went to the Westland Hospital. These general points indicate the steadly improving position of the Bank arising out of the well maintained public confidence in what appeals to he a carefully managed local institution.