The Manawatu Herald. Saturday, August 21, 1915. OUR FINANCES.

Manawatu Herald, Volume XXXVII, Issue 1439, 21 August 1915, Page 2

The Manawatu Herald. Saturday, August 21, 1915. OUR FINANCES.

Tmk supply of funds with the banks locally continues ample for all general requirements, and shows very little alteration since our last report (says the Trade Review). Imports have been coming to hand more freely lately, which calls for financing by the banks, but in many quarters stocks are low, and so merchants are in a good position financially; also, our exports are keeping up well for the lime of year, helping to balance the account. The surplus of over five millions of deposits over advances, as shown by the bank returns for the last quarter, means a considerable fund to carry on operations for the next: few months or so. This puls the banks in an excellent position to meet the demands that will shortly set in for the gathering and moving of the coming season’s produce. The Savings Bank figures show that the Government holds the enormous total of over twenty millions to the credit of depositors. ■ This shows that the savings of the community stand at a high level, and they have increased by over two millions in the last twelve months. Also, the Government has acquired substantial funds at a comparatively cheap rate through this channel. While money is plentiful at present, rates are not lowering, as there is a general leeling that before very long there will be ample scope for investment at very remunerative rates, and the expectation is that rates will not ease in the near future, but rather that the value of mouey will maintain a fairly high level for some little time to come, in view of the enormous calls for capital caused all over the world by the war.