THE MONEY MARKET.

Auckland Star, Volume LXII, Issue 143, 19 June 1931, Page 4

THE MONEY MARKET.

BANK OF ENGLAND RETURNS. BULLION STILL MOUNTING. (Received 11 a.m.) LONDON, June 18. The Bank of England returns for the week ended June 18, as compared with those for tlie week ended June 11, are as Eollow:—> • „ „

The Bank of Eugland rate of discount is 2i per cent, to which it was reduced on May 13 from 3 per cent. SHORT LOANS AND BILLS. Short loans, 1| per cent, compare with 15 per cent last week, and three months bills, 2 3-32 per cent, are the same as last week. CONSOLS AND COLONIAL STOCKS. IMPROVEMENT IN COLONIALS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of June 11 : —

THE PRICE OF GOLD. LONDON. June 18. Gold is quoted at £4 4/11% per ounce.

June IS. June 11. £ £ Note circulation ... 352,206,000 354,251,000 Coin 1G6,080,000 160,388,000. Notes in 'reserve ... CS.CGO.OOO 61.005,000 Govt deposits 15,017,000 9,627,000 Other deposits ....105,127,000 102,918.000 Govt securities .... 30,S46,000 33,211,000 Other lecuritiel .... 35,123,000 Proportion of reserve to liabilities 08.OO 5o.lO

4 FINANCE, COMMERCE AND MARKETS. OH 'CHANGE. THE LATEST QUOTATIONS. BANKS Buyers. Sellers CI IIPTIIATinftlQ IM QWARPQ Australian Commerce 13/3 .. 14/f rLUU I UAI 1 IM onMnCO. Australasia 0/3/0 .. 0/6/< Commercial 13/11 .. 14/J Commercial (pref.) ... 5/7/6 •• — MORE SALES GOING THROUGH. 3/^ /0 " #$ New South Wales 24/10/0 .. 25/5/C Xcw Zralaml 2/8/0 .. 2/8/c Business on the local Stock Exchange K.Z. D Mortgage (£1 pel.) 1/6/6 .. - ,. , ,, . , Tjnion ot Australia .. i/G/0 .. 7/12/( livened up yesterday afternoon. A good number of sales was recorded at the 3.15 INSURANCE— P.m. call, and another fair-sized list of '""."'.'.'. —' 6 '.'. VIA transactions was added at this morning's i south 'British ........ 2/10/0 .. 2/10/f call. Values generally have shown little Standard — .. 2/9/C variation from recent rates, though Mount I Lyells eased another threepence with a FINANCIAL— sale at 16/10. Abraham W1I Mil. - .. 3/17/6 ,•.,,.,,. ,, . ■ r, Dominion Investment. At the fresh bidding this morning the ;m(1 B nn ti nff α-sh. — .. 10/C market tone was fairly good, with in- Farmers Auc. (B pref.) — .. 16/C creased interest in the miscellaneous sec- Finance Corp. fpref,).. 14/6 .. — tion. In bank shares buyers raised their Goldsbrough. Mort .. 1S/0 ... W<J offers for Australasias to £9 2/6, but for National Mortgage: .. — .. 2/1-/0 New Zcalands the highest bid was £2 _ ; . _ 0/0 </ 10 - Reliance Loan ford.) — .. 18/0 Finance Corporation prefs. were asked Reliance Loan (pref.) — .■ 10/0 for at 14/6, and National Mortgage and Agencies were offered another 1/ cheaper coflL — at £2 12/. Grey Valley — .. 1S/0 Government tax-free bonds were firmer, Renown ..*..!.".".!.!!'.! — '. 13/0 and after yesterday's sale at £98 10/ there Renown (pref.) — .. 3/0 were buyers at £98. Taupiri 1/0/0 .. 1/0/6 _, ., _ .. Taupiri (pref.) 1/1/0 .. — The Noon Call. Westport — •■ 1/4/0 Interest continued fairly satisfactory Westport Stockton ... — .. 2/0 during the morning, and some additional sales were recorded at the noon call. I'resh UHO ■ aMKs£?&$±Si! isaawaj"™:: % ?& ■: ™ prefs. were offered 6d cheaper at £1 4/6. SHIPPING ' Buyers for New Zealand Breweries ad- Dcvonport Ferry .... _ .. j/1/0 vnneed their oilers to £1 12/9. Hudclart, Parker (ord.) 1/0/0 .. 1/2/0 Huddart, Parker (prof.) 17/3 .. — SALES COMPLETED.. SSSS IffiS &K) = ~ $ ■ <>♦ <? i« TIMBER— Last Sale. Bart]io]ompw _ .. 19/0 n ~^:2\™ Y :, Ill §• i GisD'onie Sheep- . p « rker > Lamb ~ •• lt/0 nTc 8 '... 1^ 1 : 75 0 0 .. 75 O 0 WOOLLENCommercial Bank Kaiapoi (ord.) ,...~~ — .. 8/C O f Aust 0 14 1 .. O 14 2 South British .. 2 10 0 .. 2 10 0 BREWERIES— Mount Lyell 0 1(5 10 .. 0 17 1 C. L. Innes (pref.) — .. 1/1/0 King Solomon .. 0 2 9.. O 2 10} N-Z . Breweries 1/12/0 .. 1/13/6 AT THE 10 A.M. CALL TO-DAY— M5SCELLANEOUS— Commercial Bank . Blenheim Oil — .. 2/10/0 of Aust 0 14 1 .. 0 14 1 British Tobacco 1/3/10.. 1/4/3 014 9. •• rP.H I Bycroft, Ltd 1/4/6 .. 1/10/0 Bank X.S. Wales 24 15 0 .. 24 17 6 Colonial Sugar 33/5/0 .. S5/0/0 .South British .. 2 10 0 .. 2 10 0 Dominion Pictures .. — .. 1/1/0 Auek. City CL, Farmers'Trading G/S .. 6/9 1044, 5i p.c. .. 9( 10 0 .. 9< 10 0 Farmers'Trad. (A pref.) 13/6 .. 15/6 AT THE 12.15 P.M. CALL TO-DAY— Farmers' Trad (B pref.) 8/6 .. - .... r»7-ioo« ooq Fullers Pictures .... — .. </« Hank IS cw Zealand 2 S o .. -S3 Hay ward's Pictures .. — .. 7/0 Milne. Choyce O i<) 9 Hill and Mummer.... — .. 10/6 (deb.) •••••••• ° 1S 6 '• Theatre Arcade (pref.) 18/0 .. — War Loan, ... 0 Kempthorne, Prosser. 2/8/0. .. r4J P-C »8 o 0 .. OS 10 0 Mil ne, Choyce, Ltd... 18/0 .. 1/0/6 Milne, Choyce (deb.).. 1S/0 .. lf>/0 INTEREST RATES. Morris Hetlstrom — .. IS/6 Moturoa Oil 2/G .. 5/0 . National Pictures .>.-.. 5/0 .. — The return to the investor on his out- N.Z. Farmers' Fertiliser — .. 33/3 !av, b&eed upon the latest dividends and N.Z. Refrigerating ... 10/6 .. 12/0 in the case ■ of loans and debentures upon N.-55._ Refrig. (cont.) .. 3/6 .. 4/0 rerbuption at maturity, works out as Cr«m../. - •• Wβ icliows for the latest sales:— Sanfortl'. Ltd.' (pref.)".'. — '.'. 19/6 PER CENT PER ANNUM. Taranaki Oil Fields.. — .. I/O & s. d. Thames Theatre 10/0 .. 14/0 War Bonds, 4* (1939) .... 4 14 7* Union Oil Wβ .. 1/6/C Gisborne Sheepfarmers'debs., Vicroria-Nyanza Sugar J/0/0 .. W 7?- (1941) . . 10 0 Of Wilsons Cement l/H>/0 .. 1/17/6 Cora. Bank of "Australia ... 8 IS 0 Woolworths (pref.).... 1/2/0 .. 1/4/G * Bank of New South Wales. . 7 5 6 South British Insurance ... 5 6 S WINING— Mount I>yell 5 IS 11? Kawarau O/.T .. 0/7 Auckland City Council, 5& . King Solomon 2/7 .. 2/9 (1944) 5 17 10 IComata Reefs O/n .. _ Bank of New Zealand 5 IS 10 Mahakipawa O/CJ .. 0/0 Milne and Choyce (deb.) .. 7 11 3| Moariataiari (5/pd.) .. — .. V" War Loan, 4 1 (103S) 4 16 0* -Moanatniari (3/3 pd.V.. — .. 0/4 •Frei! of income tax. : ■ Moanataiari (1/6 pd.).. — .. 0/8 , fDoes not include redemption. \\aihl ................ .. lo/.j tCalculated on. last interim div. rate. JVaihiflrnnd Junction 3/2 .. ?,/o Consolidatrd Goldfields <>'■-> .. — Mount T.yell 10/7 .. 17^3 SOUTHEHN EXCHANGES. Kampop? Lanjut — .. 1/1/6 . Kuala Kampar — .. 0/0 , (By Telegraph.—Press Association.) DEBENTURES— CHKISTCHURCH-This Day. fSffi &»?« K lS®8 " = Sales on 'Change: £ s. d. Auck. H.B., 1040,5J p.c. 97/0/0 .. — New Z ea,ana Breweries.... 118 { .. -^ \rniinr T veil' Vpum'div')" (2 Auek! City. 1965. T.| p.c — .. 07/0/0 iTrcels) ... 0 16 10 Auck. P.B.. 19*5. 51 00/0/0 ..98/10/0 King Solomon" (ji" parcels) ., 0 2 7 Auck• Hos. BO.. 1935,3* 07/0/0 .. - g parcels) 0 2 61 = ;; 0 10 7 H.miUon.lOg.jp.e. S3/0/0 .. ,6/0/0 nittn nbVfl tia'id) 0 18 Mt. Kden. 1063. 51} p.c. fiS/0/0 .. — gSgg%5ffl ) .:;::::-.8 i 7 z riP^.f? :: = CHRISTCHURCH —Late Yesterday. Te Ku ; ti . 1933. e p . c . _ .. <1S/O/O £ s. d. Whangarei. 1941, G — .. 102/0/0 Com Bank of Australia 0 13 11 Williamson's Films. 71 — .. 95/0/0 Katn N tla ( sl Pa 5 * 9 3 A^9,^Te 9n .. Bd :: 02/0/0 .. OG/0/0 New Zealand Refrigerating (10/ paid), wflR EO «] DS ,a (7 parcels y. Loan 1OS8, 5i p.c. ... 07/15/0 .. — WELLINGTON —Late Yesterday. Loan, 1936, 5* p.c. ... 99/0/O .. — ■Tnscribed Stock. 1933. Si .. 00 2 6 INSCRSBED LOANS— SiSa^.^ 8 !,:: si I I %Z; S8 pi:::» :: z BUNEBJN-This Bay. gg S'«' «[ SS8? Y. = Sale on 'Change: £ s. d. Loan, 5 J p.c. ... 99/0/0 .. 90/7/6 T'i drfTnn 0 2 7 Loan, 1036 5i p.c. ... 09/0/0 .. 99/7/0 King Solomon " - Loan! 1932, r>1 p.c. ... 98/0/0 .. - Sales Reported: Loan, 1037, r.j p.c. ... — .. 96/10/0 E S and A. Bank 3 IS 0 Loan, 1934, 51 d.c. ... 97/10/0 .. — New Zealand Paper Mills ... 0 18 0 "Otago Daily Times" 10 « Bank of New Zealand - » *J , IftlICV .Hiioi^rrT DUNEDIN-Late Yesterday. THE MONEY MARKET. . ■ . £ s. d. Walhi 0 15 3 Mahakipawa' 0 0 8 BANK OF ENGLAND RETURNS. CAIX AOT7 DIVIDEND UST. BULLION STILL MOUNTING. DIVIDENDS. (Received 11 a.m.) Due. LONDON, June 18. Dpvonoort Steam—Final, 3J p.c. Now The Bank of England returns for the Cpar Meat Interim, 6d a share Now weck ende( i j une i§, as compared with Rnn'- of New Zealand —Final, those for the week ended June 11, are as Farmers' Trading—Ord., 8 p.c. _ £ £ ,„■„ II'&SS™ l;Sr °S:SS? share ..... ■ •. •• • • • rii,;",-' h JU othei deposits ... 105127,000 102,918.000 Consol. Brick and Pipe-Final - Other ,«W«a •;; 33,211,000 'LVeil-interto/'ed P« Other securities .... 37,439,00035,123,000 7 ...... June 29 Proportion of reserve British June 30 to liabilities 08.OO 5o.lO Hums, Philp—Final. 5 p.c. ' The Bank of England rate of discount is Tooth and Co. —Interim. 4 Pf--- ox ver cent, to which it was reduced on New Zealand and River Plate Ma * 13 from 3 per cent . Interim, 4J p.c. .. • • ■ • • • • J UI ' * , W ffie G^..?^^. d July 1 SHORT LOANS AND BILLS. SYDNEY STOCK EXCHANGE. Shortens, c-Par^with June 18. JJj. 2 3 " 32 er ceDt ' are the Same aS laSt Businese on the Stock Exchange has been entirely restricted for the past few CONSOLS AND COLONIAL STOCKS. days and a markedly cautious attitude is - adopted. Commonwealth bonds, are ciis- nmnvr . r . playing a tendency to drift and investors IMPROVEMENT IN COLONIALS. aro" disinclined to operate in the absence pSS , ltt ...so .« June ..:- Varla _ Price. tion. ABSOLUTELY SAFE. .......... ogiV e I ej Funding Loan, 4, 1960-90 yt> « -" v War LSan. 5, 1929-47 . 103 0 0 Same BANK NOTES IN NEW ZEALAND. 34 .1! SI 0 0 10 0* Corn-wealth, 5, 1945-75 CS 12 6 2 6f In his report to the proprietors of the Com'wealth c! 1931-41 SI 10 0 50 Or Bank of New Zealand in Wellington to- Kew Zea i and ' 8 |' 1940 . S4 0 0 12 6t day, the chairman, Mr. William Watson, New Zealand, 3, 1945 .. 74 10 0 10 Ot referred to the note circulation as follows: New Zealand. 6, 1936-51 102 5 0 10 Of " All bants here issue their own notes *Lower. fHlgher.