BANK BUSINESS.

Waikato Times, Volume 121, Issue 20277, 20 August 1937, Page 2

BANK BUSINESS.

RETURNS FOR JULY. REDUCTION IN DEPOSITS. ADVANCES INCREASE £460,000. (Special to Times.) WELLINGTON, Thursday. The monthly statement of the assets and liabilities of the six trading banks at the close of business on Monday, July 26, was gazetted to-night. A comparison of the principal items at the end of July in the past three years is shown in the following table: — Jill v 1037 1 036 1035 £ £ £ in 000'si vin 000’s) (in 000’s) Circulation .. 8,646 7.17 1 6,093 Free deposits 34,825 30.268 25,196 Fixed deposits 33.304 35.6 14 35.901 Advances ... 47,1 7 1 45,185 45.900 London assets 1 1,226 16,729 18,034 Notes of the Reserve Bank held as till money by the banks on July 26 were valued at £3,945.053. The complete Issue at the date of the return was £12,590,827, 60 that the sum of £8,645,774 represents the active circulation, notes actually in the hands of the public and of the trading community. The figure is £13,000 less than tlie total at the end of June. Free deposits or current account balances at the end of July were some £i,228,000 less than the total a month previously. They showed a drop of substantially over £3.000,000, compared with the total in the April return. The July figures reflect the slackening of exports as the season ended, and the increased demand on available resources to finance import trade. The total was, however, over £4,000.000 greater than tlie figure at the end of July last year. Fixed deposits increased by £356.000 in the month covered'by the return, but the figure is still more than £2,000.000 below the total of fixed deposits a year before. Advances and Disoounts. Advances and discounts In the latest return are £47,586,260 and £584.281 respectively, a total of £48,170,541. This is some £4 60.000 greater than the .figure a month previously, and £685,000 higher than the level at the end of April. Advances are almost £3,000,000 higher than at the corresponding date a year previously. Unexpended overdraft authorities amounted to £2 4,957,807 at the end of July, compared with £25,-543,819 in the June return. The value of the, combined assets held in London by the, banks on account of New Zealand business was £11,225.913 at July + 26, or some £948,000 less than tiie total a month before. The fall, compared with the level in July last year, has been £5,500,000, but there has been an Increase of nearly £4,000,000 from the low point of at the end of January this year. Subsidiary coin in the banks at July 26 was valued at £751,233, compared with £760,078 In the June return. The banks also held gold valued at £ll9O at the end July. _____