THE MONEY MARKET.

Auckland Star, Volume LXVI, Issue 145, 21 June 1935, Page 4

THE MONEY MARKET.

RESERVE BANK RETURN. REDUCED NOTE ISSUE. • RISE OF BANK HOLDINGS. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The Reserve Bank return for the wesk ended June 17 was gazetted to-night. The statement is balanced at £27,880,807, or £133,659 more than at the close of the previous week. A further fall in the level of the note isbue is disclosed, the reduction compared with the week before being £22,098. The total is now £261.472 less than at April 2!>, when the full Easter holiday provision of caeh currency was evident. The only other movement of moment among the liabilities is an increase of £167,720 in the holdings of the trading banks. On the assets side there is only nun change of note, an increase of £143,430 in ■"the level of the sterling exchange reserve. The statement with variations compared with the week before is as follows: —■ LIABILITIES. f Variation. 3. Capital 500,000 Same " CJeneral reserve .. 1,000,000 Same .'!. Bank notes 0,172,47:! 22,008* 4. Demand liabilities — .(a) state 3::.:!2n.:m7 i.ooot (li) Banks 3,800,080 Ki7."2ot (c) Other 27,261 14,113* 7. Other liabilities . 5:!.007 1.5.54* Total ±27,550,507 £133,339t ASSETS. foo'cJoUJT 2,801,731 Same (1.) Sterling exch. 22,8i:i.00t 143,436t f>. Subsidiary coin . 14i.01.> c ,-' i 12. Investment ■ 2,004,075 Same 14. Other assets 24,48u _[*__ Total £27,880,807 £133,«50t flligher. 'Lower. Proportion of reserve to notes and other demand liabilities, 07.20 per cent (07.25 last week).

CONSOLS AND STOCKS.

BRITISH FUNDS FIRMER. COLONIALS ALSO IMPROVE. (Received 11 a.m.) LONDON, June 20. The following table gives quotations for consols and colonial Inscribed stocks, compared with those o£ June 13 :— yariaPrico. tion. if e? Wα" Loan. 3i! 1029-47 . 106 0 0 ... Of Conversion Loan, JJ .. 107 17 (> 15 t Victory Bonds, 4, ex ■ HO 0 ° "° |J Com-wcnlth 5, 1945-75 ICO 5 0 13t co • we" in si, loae-ar 102 3j> sot Co 'wealth 4, 1043-48 304 o o Same Co 'wealth 33, 1048-53 102 13 0 Same NSW., 3, 1938 101 0 0 1 8* NSW 3* 1930-50 100 1 3 1 o* NSW" 4J 1035-43 .... 100 10 O 10 Of NS'.W.: 5. 1035-55 10113 0 1 3J Victorta, 3, 1020-40 .... 08 0 0 ,7 Of Victoria, 43, 1040-(iO ... 101 0 O 2 Of Victoria, 0. 1045-75 .... 10S 15 0 7 Of Queensland, 8, 1922-47 . 98 0 0 20 Of Queensland 0, 1940-U0 . 107 5 O sOf S. Australia, 3, 1016, opt. 88 15 0 50» S. Australia, 5, 1045-75 10 «i 3 Of W Australia, 4. IUI2-(J2 101 15 O sOf Tasmania, 3J 1020-40 . 101 10 0 10 Of Tasmania, 4, 11)40-50 ..102 0 0 10 Of New Zealand, 4J, 1945-58 10!) 15 0 Same New Zealand, 3i, 1040 . 103 10 0 Samo New Zealand, 3, 1045 . 101 10 0 0 3t New Zealand, 0, 1930-51 100 5 0 bamc •fHigher. 'Lower.

BANK OF ENGLAND RETURNS.

COIN HOLDING STEADY. BILL RATES ADVANCE. (Received 10 a.m.) LONDON, June 20. The Bank of England returns for the week ended June 10, as compared with those for the week ended June 12, are as June 19. June 12. £ '~,-■£ Note circulation .. 395,730.000 3!)S,701,000 Coin 105,208,000 105,218,000 Notes In reserve .. S0,1)S6,000 5),002.()0ll (Jovt. deposits .... 13,595,000 7,780,000 Other deposits I-u.imu.i/iA) 13i,05i,000 Govt. securities .... 04,041,000 01',34(i,(X10 Other securities .... 10,334,000 Proportion of reserve to liabilities 3i:30 3<.50 SHORT LOANS AND BILLS. Short loans, S per cent, are the same as last week, and three months' bills, i per cent, compare with i per cent last week. The Bank of England discount rate is 2 per cent, to which it was reduced from 2} per cent on June 30, 1032.