BANK RETURNS.

Waikato Times, Volume 121, Issue 20254, 24 July 1937, Page 9

BANK RETURNS.

STATEMENTS FOR JUNE. 810 RISE IN DEPOSITS. DEGREASE IN ADVANCES. WELLINGTON, Friday. The monthly statements of assets and liabilities of the six trading banks at the close of business on. Monday, June 28, was gazetted last night. A comparison of the principal items at the end of June In the past three years is shown in the following, table:—.

Notes of the Reserve Bank held as till money by the banks on June 28 were valued at £3,971,988. The complete Issue at the date of the return was £12,630,838 so thatjthe sum of £8,658,850 represents tn% active circulation, notes aotually m the hands of the publio and of the trading community. The figure is some £381,000 below the total in the last previous return, but only £6'6.000 under the level at the end of April. There has been a fall of more than £1,000,000 from the figure In the March return, when the Easter demand for cash currency was in evidence. Deposit Movements. Free deposits, or ourrent aocount balances at the end of June were £615,000 less than the total a month previous. These deposits are, however, over £5,000,000 higher Ilian the corresponding figure at the end of June last year, reflecting the great improvement in the yield from produce sold abroad this export season, compared with last. Fixed deposits show an increase of some £542,000 oompared with the level at the end of May, and a rise of nearly £1,000,000 on the total at the close of the March quarter. Advances and discounts amount to £47,710,899 In the latest return, the figures for the respective items being £47,175,021 and £535,878. The total is some £322,000 less, than that shown a month before, but over £756,000 greater than the figure at March 29. It is also £2,633.000 above the level of advances at the corresponding date last year. The total of unexercised overdraft authorities at the end of June was £25,543,819. London Assets. The value of the combined assets held in London by the banks on account of New Zealand business was £12,174.139 at June 28, or some £300,000 more than a month earlier. There has been a fall of £5,000,000 since the corresponding date last year, but a substantial Increase on the valuation of £7.907,910 shown at the end of December. Similar assets held elsewhere than In London remain relatively stable at the level of about £5,000,000. Subsidiary coin In the banks at June 28 was valued at £760,078, compared with £767.884 in the May return. The banks also held gold valued at £1077 at the date of the return.

June 1937 £ 1936 £ 1935 £ In 000’s m ooo’s lii 000’s Circulation 8,659 7,222 6,107 Free deposits 86,053 80,800 25,922 Fixed deposits 39,048 36,067 35,827 Advances 47,711 45,077 45,172 London assets 12,174 17,317 18,683