POST OFFICE SAVINGS BANK.

Gisborne Times, Volume XXVII, Issue 2430, 19 February 1909, Page 6

POST OFFICE SAVINGS BANK.

AN INTERESTING RETURN. [Press Association.] WELLINGTON, Feb. 18. - Tho “New Zealand Trade Review” in dealing with the transactions of the Post Office Savings Bank expresses the view that the favorable terms granted by the Savings Bank are attracting the funds of a class of depositors for whom it was not intended, namely, investors of some means. This class of funds, the ‘Review” adds; may naturally bo attracted by more tempting investments, and thus be withdrawn on a large scale at a. time of scarcity. The Government, however, is now obtaining funds from outside the Dominion. The summary of transactions of the Post Office Savings Bank is extremely interesting. It shows that deposits continue to 1)0 made on a full scale, but that, at the same time, money is now being freely withheld from that institution. Local resources are thus being brought into use to meet the requirements of the community, while the investors arc finding more remunerative employment for their funds. The deposits and withdrawals shown in the returns of the Post Office Savings Bank during the last two years, ending with "the 31st December, compare as follows : —• 1907. .

9,674,074 9,417,820 2,562,254 There was an excess of withdrawals in the September quarter of £12,539, and in the December quarter of £50,416. .

Quarter. DeWitlr- Excess of posits. drawals. Deposits. & £ £ March 2.32.5,099 2,000,250 324,849 June 2.422,441 2.036,541 385,900 Sept. 2,357,677 2,076,796 2S0,S81 Dec. 2.246,447 2,011,536 234,911 9,351,664 8,125,123 1,226,541 1908. Quarter, . De"With- Excess of posits. drawals. Deposits. £ •£ £ March 2,542,188 2,382,935 159,253 Jpno 2,607,657 2,447,707 159,950 Sept. 2,319,607 2,332,140 Doc. 2,204,622 2,255,038