THE MONEY MARKET.

Auckland Star, Volume LX, Issue 134, 8 June 1929, Page 4

THE MONEY MARKET.

RATES HIGH IN U.S.A. --;::-——:,.WASHINGTON, June 6.. The fact that Government borrowing has been seriously affected by the high money conditions was disclosed to-day, when the Treasury Department announced its" forthcoming issue of an £80,000,000 short-term loan. The rate of interest will be 5% per cent, the highest since 1921.

The last Government issued in that year bore a rate of 4 3 A per cent interest. It is now .selling at more than % per cent discount.

BANK OF ENGLAND RETURNS. LONDON, June 6. The Bnnk of England mhirn<= for <»"> wppk onded June 6. as cnmpnrcd with those for the week ended May 30, are as follow :— June 6 May 30. Note circulation ... afi1.ri70.772 300.100.."03 Coin 108.673,54." 108.] 03.713 Notes in reserve .. 01.301.0~i2 02,300.70S Govt. deposits 8.511.444 24.340.70R Othor deposits 100.202.4R5 01,017.003 Oovt. FPCiiritlPK 43.100.5.V. 40.031,833 Other, securities 27,213,003 30,374,080 Proportion of reserve to liabilities 54.20 54.40 SHORT LOANS AND BILLS. Short loans. 4$ per cent, the same ns last week, and three months' hills. 5 0-32 per cent, compare with 5 3-33 per cent last week.

CONSOLS AND COLONIAL STOCKS. LONDON, June 6. The followinc; table gives quotations for consols and colonial inscribed stocks, compared with those of May 30: — VnriaPrice. tion. £ s. d. s. d. Consols, 2J per cent . . r.4 10 0 Bo* Kundinpr Loan, 4, 1 000-90 88 0 0 50t WarLonn. i>, 1020-47 .-. 101 7 0 7Of Conversion Loan, 3J 77 5 0 sOf Victory Bonds, 4 92 10 0 sOf Com'wealth, 51, 1022-27 9C 7 0 47 6* Com'.wealth, 6, 1031-41 . 101 10 0 sOf KS™S ea ! and ' 4 ' 1029 •■•• 99 13 9 sOf .Zealand, 3, 1945 .. 78 10 0 sOf w -Zealand, 6, 1936-51 105 10 0 Same!