THE MONEY MARKET.

Auckland Star, Volume LVIII, Issue 90, 18 April 1927, Page 4

THE MONEY MARKET.

BANK OF ENGLAND RETURNS. SHOUT LOANS STILL 4 PER CENT. LOXDOX, April 13. The Bank of England returns for the week ended April 14, as compared with those for the week ended April 7, are as follows: — April 14. April 7. Nore circulation K'.s.siiO.ooo i :>7~550.000 Coin .. .. ]."i."j.i74.(iOfi 14J>.512.»>00 Reserve .. jj.-i. oiu.oon :;:;.1:11.000 Govf. deposits .. L'S.Ooi.Ollil 111.038,000 Other deposits. . 5i7.07H.u00 ln.'i.mft.Oixi Govt. securities ".5.!152,000 UII.OS-.000 Other securities 7 I.ONS.oou 77,700,000 Proportion of reserve to liabilities . . 2S.OS 2(5.70 SHORT LOANS AND BILLS. Short loans, 4 per cent, same as last week; three months' hills, 4'i per cent, compared with 4 o-lti per cent last week. CONSOLS AND COLONIAL STOCKS. The following tables gives quotations for consols and colonial inscribed stocks, compared with those of April 7: — I , rice. Variation. '- s. «l. s. d. Consols, 2J per cent .. r>4 Go Same. British 3;, War Lean . . Sl'.l ."» <l - J »;♦ British 0~ War Loan .. I(i2 u *(i y »;• Conversion Loan, 31 . . 75 u (i u t;» Com'wealth, .:«.'., 11C2-27 I'll 17 »'• 0 (>• Coin/wealth, li. 1031-41.. 101 IS '.I 1 :;* New Zealand, 4, licit . . ;it 7 r; o u . New Zealand, 3} 1!I4U . . Sli In o ii ll* New Zealand, 3 I!i-|."> .. 7<> ti :; 1 ;{« New Zealand, 0, l!»3t!-."»] 107 C - ti* •Higher. FOREIGN EXCHANGES. LONDON, April 15. Foreign exchanges on London to-day, compared Willi rates previously quoted:— Apr. 13 Apr. 11 Par. Montreal (dol to £) 4.5-5 T / 10 4.v>;: 4.set; New York (dol. to f) 4.Sj" / io -i.b-'j'i 4.M>O Brussels (belga to t) ::4.H2 :u.n:j .t, Paris (I'r. to i") 1-4. OO 1-4.nj J.V220 Stoekholnj (kr. to £) is.i:; is.i:i is.i.-,r> Oslo (kr. to £) .. 1S.&1 li-.M IS.IOU Copenhagen (kr. to £) JS.-l 15.20 15.1.-.0 Berlin (r.m. to ±") 20.4:> \HKV.\ 'J»i.4:i Kome (lire to £) 07.30 Ioo.HO Amsterdam (ti. to £) 12.14J 12.11 12.107 Batavia (tl. to i") 12.l:; 12.13 12.107 Calcutta (pence to rupee) 17'-"'/a: 171 f-4 Yokohama (pence to yen) 247 m 24. Y w -4.0S Hongkong (penco to dol.) 24; 213 * All quotations are lor cable transfers. ♦Determined on the price of silver. ton the basis or 10 rupees to one sovereign (sold;. FRENCH BANK RATE. REDUCTION TO 5 PER CENT. PARIS, April 13. The bank rate has been reduced to 5 per cent. The French bank rate was raised to 7Vi per cent on July 31 when the franc stood at 200 to the £. On December 16 it was reduced to 6V3 per cent and on February 3, to 5Vi per cent.