THE MONEY MARKET.

Auckland Star, Volume LXVI, Issue 139, 14 June 1935, Page 4

THE MONEY MARKET.

RESERVE BANK RETURN. STATE DEPOSITS HIGHER. INCREASE IN EXCHANGE. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The Reserve Bank return for the week ended June 10 was ga/setted to-night. The statement is balanced at £27,747,148, or £230,270 more than at the close of the previous week. The note issue continues to fall, although the increase which preceded the Easter holidays has now disapneared. The level is £84.188 lower than at the end of the previous week. Government deposits have increased by the substantial amount of £450.115. while those of the trading banks are lower by £161.874. On the assets side the only movement of note is an increase of £251.190 in the value of the sterling exchange reserve. The statement with variations compared with the week before is as follows: — LIABILITIES. £ € Variation. 1. Capital r>oo.ooo Same 2. Gen. reserve ... 1.n00.n00 Same ;:. Bank notes 0,104,570 S4.ISS* 1. Demand liabilities— (a) State i:5.322.:!!>l tSO.IISf (1)) Banks .... 3,032.000 101.87-1* (c) Other 41.370 28.2G8t 7. Other liabilities C5,8D1 82,034* Total 27,747, US g30,270t ASSJJTS. £ £ 8. Reserve— (,-i) (Jold 2,801,731 Same (b) Slorliiif,' Kx. 2.J,000.n0ii 2u1,100t 0. Subsidiary coin 150,U04 ' 1,007* 11 , . Investment .... 2,094,075 Same 14. Other assets ... 31,413 13,010* Total 127,747.MS 230,270t fHlghcr. *Lower. Proportion of reserve to notes and other demand liabilities, 97.25 per cent (07.2S last week). CONSOLS AND STOoKS. BRITISH FUNDS STILL DULL. COLONIALS IRREGULAR. (Received 11 a.m.) LONDON, June 13. The following table gives quotations for consols and colonial inscribed stocks, compared with those of June G:— Varia- I Price. lion. ! £s. A b. d. j Consols, 2?. per cent ... S3 0 « 30 0* Funding Loan, 4, 1900-00 117 0 O 10 Of War Loan, 31. 1020-47 . 10S 5 l> 10 <>• Conversion Loan, 3J .. 107 2 0 7 0* Victory Bonds. 4. ox . 104 10 0 It .'!* Com'wealth, r>, 1945-75 100 ;s o 13* Com'wealth, :'»J, 1880-87 10;> 0 0 8 !>• Com'wealtli, 4, 1!)4:S-4S 104 O 0 Same Com - wealth. 33, 1948-o3 102 13 !> "» Of x.s.w., ;{, in:'.r> 101 i 8 Same N.S.W.. 3i, IO.'iODO 300 2 C '-' (it N.S.W., 45, 10:m-43 100 0 O 22 (i* i N.S.W., 5, 10:!o-5."> 101 12 0 Same Victoria, 8, l!>-f)-49 07 12 0 Same Victoria, 43, 1040-00 ... lOli 17 0 C 0* Victoria. 5, 1945-75 10S 7 0 B 0* Queensland, 3, 1D22-47 . 07 0 0 12 0* ! Queensland, 6, 1940-CO . 107 0 0 Same S. Australia. 3. 1010, opt. SO 0 0 2 (it S. Australia, 5, 1045-70 108 12 0 7 0* W. Australia, 4 101 10 0 2 0* Tasmania, 3j, 1(120-40 .. 101 0 0 Same Tasmania, 4, ID4O-3O .. 101 10 O 10 O* New Zealand, 4J, 11)48-58 109 IB 0 Same New Zealand, 3*. 1940 . 103 10 0 2 C>* New Zealand, 3. 1945 . 101 'i 9 H 0* New Zealand, 0, 1030-51 100 0 0 Same tHigher. *Lower. BANK OF ENGLAND RETURNS. GOLD HOLDING STEADY. ■BILLS SLIGHTLY DEARER. (Received 10 a.m.) LONDON, Juno 13. . Tlie Bank of ICnpland returns for tlio week ended Juno 12, as compared with those for the week ended June o, are as follow :— June 12. Juno 5. £ £ Note circulation .. 308,701,000 395,800.000 Coin 195.213,000 105,245,000 Notes in reserve .. 53,002,000 38,778,000 Govt. deposits 7,759,000 7,010,000 j Other deposits 137.051.000 187.701,000 Govt. securities 92,340,000 88,970,000 Other securities 10,334,000 10,006,000 Proportion of reserve to liabilities 37.50 39.30 I SHORT LOANS AND BILLS. Short loans. 3 per cent, are thp same as last week, and three months' hills, 5 per cent, compare with 19-32 per cent last week. The Bank of England discount rate is 2 per cent, to which it was reduced from 2J per cent on June 30, 1032.