THE MONEY MARKET.

Auckland Star, Volume LX, Issue 241, 11 October 1929, Page 4

THE MONEY MARKET.

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BANK OF ENGLAND RETURNS. INCREASED METAL HOLDING. (Australian ana N.Z. Press Association.) (Received 10.30 a.m.) LONDON, October 10. The Bank of England returns for the week ended October 10, as compared -with those for the week ended October 3, are as follows:- Octio Oct;B< £ £ Note circulation . 363,840,000 363,348,000 Coin •... 136,833,000 135,186,000 Notes in-reserve... 26,896,000 25,773,000 Govt. deposits ... 8,459,000 8-992,000 Other deposits .. 104,328,000 102,952,000 Govt. securities . 72,707,000 73,767,000 Other securities . 29,586,000 29,482,000 Proportion of .re- -. serve to liabilitiea 24.90 24.10 SHORT LOANS AND BILLS. Short loans, 5% per cent, are the same as last week, and three months' bills, 6% per cent, compare with 6 3-16 per cent last week.The official bank rate now stands at 6% per cent, to which it was raised from bYz per cent on September 26. It will be noted that_ the holding of bullion has increased during the week by over one and a half million sterling, so that the measures taken by the bank rate to protect the gold "reserve seem to have been effective. CONSOLS AND STOCKS. LONDON, October 10. The following table gives quotations for consols and colonial inscribed stocks, compared with those of October 3:— VarlnPrice. tlon. £ s. d. s. a. Consols, 21 per cent .. 53 2 6 ,13 fit Funding, 4, 1960-RO ... 84 0 0 20 Of War Loan, 5, 1929-47 . 101 15 O 15 Of Conversion Loan, 3J .. 73 10 0 ,20 Of Victory Bonds .......... 01 18 9 18 f>t .Com'wealth, 5J, ; 1922-27 85.0 0 11 3f Com'wealth, 6, 1931-41 . 100 11 3 2 6f Xew Zealand, 4, 1920 . SO 10 0\ Same New Zealand-, 3J, 1940 . R" Iβ 9 4 3t New Zealand, 3, 1945 . 73 2 6 11 3f New Zealand, 6, 1936-51 103 10 0 5 Of fHigher. EXCHANGE RATES. LONDON ON NEW ZEALAND. (Australian and N.Z. Press Association.) (Received 11 a.m.) , LONDON, October 10. The Associated Australasian Banks announce that from October 14 the following exchange rates, London on New Zealand, will be in operation:—Buying: 45/ per cent discount, on demand. Selling: 25/ per cent discount. Buying: 56/3 per cent discount,- 30 days sight; 67/6 per cent, discount, 60 days sight; 78/9 per cent disfers, count, 90 days sight. Selling: Telegraphic transfers, 20/ per cent discount. This makes the third change that'lias taken place quite recently. The previous changes came into force on- July 29 and September 4, and in each case the rate was I increased by 5/ per cent discount. .... NEW YORK CALL RATES. (Australian and N.Z. Press Association.) (Received 11 a.m.) NEW YORK, October 10. 6 Sr\« T 57 ! f°r renew als was quoted at D Per cent, closing at 5.