ABSENT-MINDED RICH

Taranaki Daily News, 15 November 1926, Page 10

ABSENT-MINDED RICH

THOUSANDS OF POUNDS LEFT IN SAVINGS BANK. Sydney, Nov. 1. One person in every ten in New South Wales has money in tho bank, and has forgotten all about it. With the Government Savings Bank alone, there are more than 23V,000 depositors who have small sums to their credit, which the bank officials believe will never be withdrawn. A great many of the accounts are for the humble sum of one shilling, but in the aggregate the accounts run into many thousands of pounds. The Government Savings Bank Act does not provide for the allocation of these unclaimed balances, and consequently the accounts are kept open, though no interest is credited. But with the Commonwealth Savings Bank and others it is laid down that if an account lias not been operated upon, either by a withdrawal or by a deposit for seven years, the money passes to the Unclaimed Deposit Fund and interest ceases. DEEDS AND DOCUMENTS. There are many accounts for large sums, £SCO and more, which have not been operated upon, nor the pass books sent in, for years. But it is not only with cash that some people are forgetful. In the safes of some banks and also in lawyers’ offices, are documents and deeds worth thousands of pounds, the owners of which have not communicated with the holders for years and years. What to do with these is a problem. A ease in point is that of a solicitor, whom a casual client instructed to pay off a mortgage on a valuable property. The solicitor did so, and collected the deeds. lie received payment for his services, but. received no answer to his letter asking what to do with the deeds. He still has them. FORGOT HER TROUSSEAU! The Railway Department lias many

cases of unclaimed valuables, but the most striking of all is a wedding trousseau, which the bride placed in the luggage-van and though she travelled with her husbamf on the same train, failed to call for it when she reached her destination. It was sold at auction, and realised a few’ shillings. With regard to bank depositors who forget that they have “a little bit put by,” it is not uncommon for them to remember the fact twenty or even twenty-five years later, and then make a demand for it. IN INTEREST, 16s 9d. One woman, who had £1 in the Savings Bank, sent her book in after twenty-one years, and when the interest was made up she was delighted to find that she was entitled to draw £1 16s Bd. But of all the people whom one would expect to see to it that their money, earned interest all the time are pawnbrokers. Yet the Brisbane Pawnbrokers’ Association has £lB 17s Id to its credit in the Commonwealth Savings Bank, that has been passed to the Unclaimed Deposits Fund, and consequently does not bear’ interest. This fact has been advertised by the bank, and, as one official put it, “Some officer of that association is in for a bad time when the members hear of it.”