THE MONEY MARKET.

Auckland Star, Volume LXVI, Issue 98, 27 April 1935, Page 4

THE MONEY MARKET.

RESERVE BANK RETURNS. SALE or GOLD. HOLDINGS FALL £200,000. (By Telegraph.—Press Association.) WELLINGTON", Friday. The Reserve Band return for tlie week ended April 22 was gazetted to-night. The statement is I>a]nnccd at £27,570,503, or £109,147 inore than at the close of the previous week. The outstanding feature is a decrease of £200,000 in the gold holding compared with the level a week earlier. The sale thus indicated is the first to have taken jilnce since last November. Naturally linked with the gold sale is an increase of £417,000 in sterling exchange, doubtless representing the realisation of the metal in London. On the liabilities side, State deposits have increased by £247,000, while the holdings of the trading banks are down by £82.160. An increase of £31,589 in the note issue, added to a rise of £21,321 in the previous week, can be taken as a result of the holiday demand for cash currency. The statement, with variations compared with a week before, is as follows: — LIABILITIES. Variation. t. Capital £ ">OO,OOO Same 2, Gen. reserve .. 1,000,000 Same !!. Bank notes .. . 9,430,059 31,559t 4. Demand liab.'lities— (a) State 12,383,82S 247,09Gt (b) Banks .... 4,174,052 82,100* (<■) Other 7,311 715* 7. Other liabilities 84,253 2,743t Total £27,579,503 £199,147f ASSETS. 8. Reserve — (a) Gold £2,501,731 £200,000* (h) Sterling Ex. 22,484,908 417,007f 9. Subsidiary coin 173,072 1,057* 12. Investment .... 2,095,807 Same 14. Other assets . . 23,385 10,203* Total £27,579,503 £190,1171 fHigher. * Lower. Proportion of reserve to notes and other demand liabilities 07.27 per cent (97.17 last week). DOLLAR AND FRANC. (Received 11 a.m.) LONDON, April 26. The American dollar to-day is quoted at 4.81%, and the franc 73 to the jiound sterling.