MONEY MARKET.

Auckland Star, Volume LXVI, Issue 205, 30 August 1935, Page 4

MONEY MARKET.

RESERVE BANK RETURN. STATE DEPOSITS FALL. DECREASE IN NOTE ISSUE. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The Reserve Bank return for the week ended August 26 was gazetted to-day. The statement is balanced at £25,963,647, or £2010 lees than at the close of the previous week. After last week's recovery the note issue has receded again, the level being £10,690 lower. State deposits are smaller by £133,683, while those of the trading banks have increased by £360,195. The item "other demand liabilities," which has stood at a comparatively high level lately, has been reduced by £228,234. Only minor changes have occurred on the assets side. . . The statement, with variations compared with the week before, is as follows: — LIABILITIES. Variation 1. Capital £300,000 Same 2. General reserve. 1,000,000 Same 3. Bank notes .. 8,769.362 10,600* 4. Demand liabilities — (a) State 10,077,917 133,683* (b) Banks 4,472,260 3G9,195t (c) Other 180.578 228,234« 7. Other liabilities 63,030 502| Total £25,063,647 £2,910* ASSETS. 8. Reserve — (a) Gold £2,801,732 Same (b) Sterling ex. 20,813,691 870t 9. Subsidiary coin. 222,110 916* 12. Investment .... 2,102,859 Same_ 14. Other assets .. 23,255 2,863* Total £25.963,647 £2,910* fHiglier. 'Lower. Proportion of reserve to notes and other demand liabilities, 06.73 per cent (96.7<J last week). BANK OF ENGLAND RETURNS. COIN HOLDING STEADY. LOAN BATES UNCHANGED. (Keccived 10 a.m.) LONDON, August 29. The Bank of England returns for the week ended August 28, as compared with those for the week ended August 21, are as follow Aug. 28. Aug. 21. £ £ Note circulation .. 309,564,000 400,440,000 Coin ............ 190,021,000 105,44 < ,000 Notes in reserve .... 53,790,000 52,811,000 Govt deposits 0 359,000 15,902,000 Other deposits .... IOT.OOO 130.707.000 Govt, securities .... Sl,2«o,000 83,400,000 Other securities .... 20.190.000 27,J0-,000 Proportion of reserve to liabilities .... 38.10 30.40 SHORT LOANS AND BILLS. Short loans, 5 per cent, and three months' bills, 19-32 per cent, are the same as last week. The Bank of England discount rate is 2 per cent, to which it was reduced from 21 per cent on June 30, 1932. The movements in deposits are due to Government's interest disbursements. CONSOLS AND STOCKS. BRITISH FUNDS STEADY. SOME COLONIALS FIRMER. (Received 10 a.m.) LONDON, August 20. The following table gives quotations for consols and colonial inscribed stocks, compared with those of August 22: yariaPrlce. tion. £ s. d s. d. Consols. 25 per cent ... 84 0 0 £ame Funding Loan, 4, 1960-90 116 12 o War Loan, 35, 1929-47 • 105 10 0 50, Conversion Loan, 31 .. 100 0 0$ 20 O Victory Bonds, 4, .. 113 10 Ot an "r Com'wealth, 5, 1945-75 110 10 3 1 3t Com'wenlth, 31, Com'wealth, 4, 1943-48 104 i 6 - ® Com'wealth, 3|, 1948-53 103 5 0 - 6 Com'wealth, 31, 1906-01 98 10 0 10 0 N S W.. 3, 1935 101 1 3 1 Jt N'.S.W., 3-3, 1930-50 ....>IOO 0 0 10 0* N.S.W., 41, 1935-45 ... 101 0 O - 6 N.S.W., 5, 1935-55 102 11 3 J- 3t Victoria, 3, 1929-49 98 5 0 7 6* Victoria, 4i, 1940-60 ... 100 5 0 2j Of Victoria, 5, 1945-75 .... 110 7 6 < '>t Queensland, 3, 1922-47 . 98 2 6 - G Queensland, 5, 1940-00 . 107 ' ' ' S. Australia, 3, 1910 opt. 88 10 O - Oi S. Australia, 5, 1945-73 110 11 •> 0 -Jt W. Australia. 4, 1942-62 102 15 0 a 0 Tasmania, .14, 1920-40 . 101 l.» 0 10 0* Tasmania, 4, 1940 30 .. 102 0 0 -0 0 New Zealand, 4J, 1948-58 109 0 0 •_> 0* New Zealand, 3}, 1940 . 103 10 0 -J 0* New Zealand, 3, 1945 .. 101 10 0 2 (,t New Zealand, G, 1936-51 103 10 0 o 0 f Higher. * Lower. tEx dividend.