COMMERCIAL NEWS

Ashburton Guardian, Volume 59, Issue 21, 4 November 1938, Page 7

COMMERCIAL NEWS

THE RESERVE BANK. THE WEEKLY STATEMENT. WELLINGTON, November .3. A Gazette issued to-night contains the following statement of the assets and liabilities of the* Reserve Bank of New Zealand as at the close of business on October Ml:— LIABILITIES — £ s. d. General reserve ... 1,500,000 0 0 Bank notes 14,437,824 10 3 Demand Liabilities: State 3,153,030 10 5 Banks 4,806,785 7 0 Other 316,501 11 8 Time deposits Liabilities in currencies other than New Zealand currency 7,807 7 3 Other liabilities .... 158,009 911 Total 24,450,618 16 3 ASSETS—- £ s. d. Reserves: Gold 2,801,791 0 0 Sterling exchange 7,707,697 3 8 Gold exchange ... 1 Subsidiary coin 220,495 4 2 Discounts— Commercial and agricultural bills Treasury and local body bills .... Advances— To State or State undertakings: Primary Products Marketing Dept. 4,030,785 5 0 For other purposes 6,850,000 0 0 Investments 2,732,064 16 6 Bank buildings ... Other assets 107,785 6 11 Total 24,4-50,618 16 3 Proportion of reserve to notes and other demand liabilities 46.09 per cent. GRAIN AND PRODUCE. THE CHRISTCHURCH MARKET.

CHRISTCHURCH, This Day. South Island potato growers are benefiting by the difficulties of North Island growers. The first crop in the north Avas a partial failure and consequently there has been a \ r ery keen demand for South Island supplies. The result will be that the anticipated surplus will be very materially reduced, or, ns one merchant said, “not much will bo wasted this season.”

Prices have been forced up sharply, and at the present time Whites are quoted at £3 and Buttons at £4 ss. The grain and seed market has been somewhat more subdued during the past feAV days, although there is still a keen demand lor linseed and good quality A\ v hito clover finds a ready market.

Following are quotations to farmers on trucks at comrtry stations, sacks extra unless otherwise stated: —

Milling .Wheat —October delivery: Tuscan 5s lid; Hunters, 6s Id ; Pearl 6s 3d (all f.0.b.). Fowl W 7 heat—F.o.b., 5s lOd.

Oats—Gartons, to 2s 9d (A grade), 2s 6d to 3s 3d (lower grade); Algerians, 2s 3d to 2s 6d; Duns, 3s to 3s 6d (according to quality). Byegrass—Perennial, 4s to 4s Cd ; Italian, 2s 9d to 3s 3d. Cocksfoot—7d to 9d. Cowgrass—7d to 9d. White Clover—lOd to Is. Chaff—£3 10s to £4 (according to quality). Partridge Peas—No. 1 quality, 6s; f.a.q., 5s to 5s 6d; under-grade, 3s 6d. Flour—£l3 15s Gd, in 2001 b sacks. Bran—£4 15s to £5 5s (local price).Pollard—£6 5s to £6 10s (local price). —£3 to £4 ss. THE SHARE MARKET.

The following sales were made on the Cnristchurch Stock Exchange yesterday:— LISTED STOCKS. Sales on ’Change. £ s. d. 100 Nat. Bank of N.Z. 210 3 100 Bank of N.Z. ... 2 0 3 50 N.Z. Breweries ... 2 0 9 50 G. J. Coles ... 319 7 200 Woolworths (N.Z.) (ord.) (2) 018 11 200 Woolworths (South Africa) (2) 014 10 250 Broken Hill South (cum div.) ... 11l 9 (2) 111 8 100 Mount Lyell ... 1 9 3 200 Mount Morgan (2) 0 911 £2OO N.Z. Govt., 4 p.c. Ins., 1955 ... 99 10 0 250 Electro. Zinc (ord.) 2 5 4 100 Taranaki Oilfields ... 013 *1

, Sales Reported. 50 N.Z. Breweries (late Wednesday) ••• 2 0 9 Also: £SOO N.Z. Govt. 4 p.c. Bonds, 1949 ... 99 5 0 100 Wellington Alluvials 0 5 0 UNLISTED STOCK. Sale Reported. 100 Ivamieri ••• SYDNEY WOOL SALES. SYDNEY, November 3. The Sydney wool sales closed with very strong competition Irom the Continent and Yorkshire and good support

from Japan, greasy merino making 201 d. The total number of bales sold was 14,125. The average price for the first three days- of this week was £l3 8s 5d a hale.