SAVINGS BANK WITHDRAWALS
LURE OF HIGHER INTEREST. By Telegraph.—Press Association. Wellington, July 19. Reports on the returns of the Post Office Savings Bank business for the June period have been received by the Postmaster-General. They disclose an excess of withdrawal over deposits for the month of £85,000. The districts more particularly effected by the recent issue of bearer bonds are those which show the greatest excess of withdrawals. In Auckland the excess amounts to £64,000, Gisborne over £lO,OOO, Napier £26,000. New Plymouth and Wanganui, which are farming districts, show an excess of withdrawals amounting to £23,000 and £lO,OOO respectively. These excesses are probably due to the same cause. Wellington, which may be regarded as cosmopolitan, and probably contributing a certain sum to all the various ventures, shows '-n excess of withdrawals of £24,000. On the other hand, Christchurch, where the bearer bonds scheme originated, seems to have recovered, and shows an excess of deposits o-f over £28,000.
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Taranaki Daily News, 20 July 1921, Page 5
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157SAVINGS BANK WITHDRAWALS Taranaki Daily News, 20 July 1921, Page 5
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