THE PEOPLE'S SAVINGS.

Taranaki Daily News, Volume LII, Issue 215, 16 October 1909, Page 5

THE PEOPLE'S SAVINGS.

BANK DEPOSITS. OUR THEIWrV POPULACE. During the year 1908-8 tliiity-ou savings bank offices were opened in X'-\ Zealand, making a total of 593 olliees 80,133 accounts were opened and 57,82* closed, the net gain on the year's work ing lieiug 22,301 accounts. The number of accounts on 31st De cemher, 11)08, was 312.077. and the pro portion per head of .population was 1 ii 2.!).), a<? compared with 1 in 3.0!) at til end of the previous year. The deposits numbered 700,101, rcpre. sentiug £9,074,075 4s, an average o 1 £l3 14s per transaction. The withdrawals numbered 484,072 for £9,417,820 10s 3d, an average of £l9 8s 8d for each withdrawal. DEPOSITORS' CREDITS. The net amount added by depositors to their savings during the year wa», therefore, £250,254 13s »d excess of deposits, plus £379,808 0s 7(1 interest tarned and credited, making a total ,t £03(1,003 0s 4d. The total amount at credit of depositors increased from £11,523,230 17s 9d at the close of the previous year to £.12,159,293 18s Id on 31st Decemb«r last, representing a sum equal to £l2 Is 2d per head of the entire population, and £35 Ills lid to each depositor. The interest credited to depositors since the post office savings banks were established in 1307 now amounts to £4,180,053 13s 4d. The cost of working the savings banks amounted to 5.44 d ])er transaction, or £27,000 for the year. The cost of management per cent, on the total amount at credit of deposit"'!, was 0.22 j>cr cent., or 4s 3d per £IOO. SMALL SUMS. In order to encourage the saving of small sums by depositors, a itrial is being given at the Wellington, Courtenayplace, Moleswovth-street, Te Aro, and Wellington South offices, to the "home saving bank safes," which readily pevait of deposits of all siaes. of coins and also of .paper money. The safes are delivered to depositors locked, and the money deposited therein can only bj taken out at the Post Office Savings Bank where the keys arc kept. When brought to the office the safe is opened and the amount counted in the presence of the depositor, and then entered in tiii pass-book as an ordinary deposit. A yearly rental of Od is charged for the use of each, "safe."