SAVINGS' BANK.

Southland Times, Volume VII, Issue 523, 20 July 1866, Page 5

SAVINGS' BANK.

There is scarcely an institution which exercises a greater influence for good than a Savings' Bank, and yet there are few that it is more difficult to establish. The Invercargill Savings' Bank stands out in hold relief as the institution ■which, amidst storms, depressions, and commercial retrogression, has steadily progressed ; it has been of infinite service to the thrifty working men of the town. This institution was established through the exertions of A. Bokie, Esq., who has from its birth, been hon. manager ; he has been unceasing in his efforts to make it prosper, and has succeeded. It is with regret we learn that he is about to leave the Province. He has done very much for Southland, in establishing in Invercargill so desirable an institution as a Savings' Bank, and having worked it through all its difficulties, and placed it in a stable condition, his services are deserving of public recognition. It is healthy to review the past, in order to keep our memory green upon the public projects, that haverequired much labor and disinterested perseverance to accomplish : and think with respect of the men who by their acts have proved to be deserving of the highest praise. Mr. Bojstar belongs to this class, At great sacrifice of time, he has made the Savings' Bank the most valued institution in the Province, and as that gentleman is now leaving Southland, a short review of the formation and progress of the Invercargill Savings' Bank will not be out of place. The following information has been given us : — In the winter of 1864 a. course of lectures were delivered here. Among others, Mr Archibald Boaar expounded the nature, importance, and advantages of j Savings' Banks, and gave a short history of their institution and remarkable progress in England, Scotland, and Ireland. This lecture was well received, and within a few weeks a number of gentlemen, amongst whom were his Honor the Superintendent and the leading public men, of the place, commercial and political, held a meeting, and resolved to institute a Savings' Bank in Invercargill. The necessary arrangements to put the machinery in motion — planning laws and regulations, and securing the sanction of the General Government of New Zealand — were, through the exertions of Mr Bojstab, in about two months completed. His Excellency Sir G-eoh&e G-eey consenting to become President. On the lOfch of December, 1864, the Bank was opened, and at the close of that day there were seventeen accounts, which ' collectively ■; amounted to the modest sum of £33 16s 6d. "=■ "^ It is interesting to trace the steady progress that has been made up to* this time. The following statement, we think, will fully bear out the above remarks : — Statement of Balances at tlie Credit of Depositors, and Progressive Increase — Monthly Balance Monthly of Deposits. Increase. 3lsc Dec, 1864 £307 19 11 £307 19 11 31st Jan., 1865 873 2 0 565 2 1 •>Bth Feb., „ 10S0 12 0 207 10 0 31st March „ 1352 18 0 272 6 0 30th April .. 1614 14 0 261 16 0 31st May '„ 2128 510 513 11 0 30th June „ 2323 13 4 195 7 6 31st July „ 2547 6 6 223 1 3 2 31st August „ 2638 19 0 91 12 6 30th Sept., „ '2773 511 134 611 31st Oct., „ 3017 19 11 244 13 2 30th Nov., „ ' 3169 2 0 151 211 31sfc Dec, „ 3675 11 10 506 910 By the above statement it will be seen the monthly increase of the deposits during the first thirteen months of the Bank, and the last two quarters have been still more encouraging : — 3 )th April, 1866... £4019 14, 11 £344 3 7 25th June, „ ... 4365 0 0 315 0 0 Thus we have evidence that atno oneperiod, even in the face of the exodus to the West Coast Diggings, when above £2,000 was repaid to depositors, did the monthly balances decreased. 370 accounts are now opened in the Bank, and the balance at the rrerli* «\f <i p p ri^i('ora is nearly j I .CM 100. \y !.-.- harciK iieces^ary io ; ; r,y '■■

that Mr. Bonab' has been the life and soul of the Institution, and that in tbe prosecution of this good work he has had to contend with many difficulties. We heartily wish him prosperity at the new field for enterprise he has selected Since writing the above, we learn that Mr. Thos. Bbodeick has been appointed manager of the Savings' Bank.