MONEY MARKET.

Auckland Star, Volume LXVI, Issue 229, 27 September 1935, Page 4

MONEY MARKET.

RESERVE BANK RETURN. INCREASED NOTE ISSUE. FALL IX STATE DEPOSITS. (By Telegraph.—l'ress Association.) WELLINGTON," Thursday. The Reserve Bank return for the week ended September 23 was gazetted to-night. The statement is balanced at £25,149,917, or £0393 more than at the close of the previous week. The liabilities show considerable movement. The note issue has increased by £133,480, compared with the level a week before. The deposits of the State have fallen by £515,529, while, reflecting this movement, there has been an increase of .C 552.800 in the deposits of the trading banks. After its very substantial increase tlie week before, the item "other demand liabilities" shows a decrease of £194,158.. There is very little change in the levci of the assets. Coin is higher by £4279, and the miscellaneous item, other assets, has increased by £2035. The statement, with variations compared with the week before, is as follows: — LIABILITIES. 'Variation. £ £ 1. Capital r, 00,000 Same 2. Gen. reserve .. 1,000,000 Same 3. Bank notes .. . 8,913,523 133,480f 4. Demand liabilities— (a) State 0,751,50 C. 515,529* (b) Banks ... 4,401,152 582,800f (c) Other .. . 500,821 194,158* 7. Other liabilities 73,555 200* Total 25,149,017 0,30g£ ASSETS. ' 8. Reserve— v -iV •• • (a) Gold 2,501,732 Same (b) Sterling ex. 19,087,942 79t 9. Subsidiary coin 221,318 4,279f 12. Investment .. . 2,102,859 Same 14. Other assets . 30,000 2,035t Total 25,149,917 •! ...0,393t •fHigher. 'Lower. Proportion of rescr.va to notes and other demand liabilities, 96.00riB.cir cent (90.69 last week). v '-> ■ • V CONSOLS AND: STOCKS, BRITISH FUNDS IMPROVE. COLONIALS SLIP BACK. (Received 10 a.m.) LONDON, September 2fi. The following tahle gives quotations for consols nnd colonial inscribed stocks, compared with those o£ September 19:— Varla-

BANK OF ENGLAND RETURNS. • ■ ' ...' COIN HOLDING STEADY. a.H LOAN RATES UNCHANGED. (Rcceivcd 10 a.m.) • • -f LONDON, September; 26. The Bank of England returns f° r the week ended September 2.V as compared with those.for the week ended September IS, arc as follow: — V'ASep. 25. Sep, IS. Note circulation .... ,".1!S T IG4,OW ~'503,1rW>,000 Coin " .. 10r>,901;(V)0 -.VKjJWta.OW Notes in reserve ... 55,'408,000'" : 55,328,000 Govt, deposits 19,401,000 17;4<!i5,000 Other deposits 126,197,000 129,599,000 Govt, securities .... 83,165,000 83,i(t0|t)00 Other - 24,601,000 20,011,000 ; Proportion of Reserve to liabilities ..... . 38.50 38.10 SHORT LOANS AND BILLS. Short loans, 3 per cent, and three months' hills, 9-16 per cent, are the same as last week. Tlie Bank of England discount rate is 2 per cent, to which it was reduced from 21 per cent on June 30, 1932.

Price. tlon. £ s. d 8. d. Consols, 2.J per cent S3 1 3 11 Kuntliiif; Loan,"4, 11»»»0-t)0 113 2 Ot IT G* War Loan, 3J, 1929-47 . 101 0 0 5 Ot Conversion Loan, 3i- ... 103 10 0 10 Of Victory Bonds, 1 112 0 0 10 Ot Com'wealth, 3, 1945-75 10S 7 0 3 — . *>t Corn-wealth, 3J, 1930-37 ]0l 12 6 S 9» Com'wealth, 4. 1943-48 101 11 3 3 «>t , Com'wealth, 33, 1948-53 100 17 6 17 G* Com'wealth, 3}, 105G-G1 9fi 10 0 17 6* N.S.W., 3J, 1930-50 98 10 -0 17 G» N.S.W., 43, 1935-45 101 2 (i \:3 "0» N.S.W., 5, 1035-05 100 5 0 . 2 .0* 1 Victoria, 3. 1929-49 90 0 O 20 0* Victoria, 43, 1940-G0 ..• 103 10 0 20 0*Victoria, 5, 1945-75 108 0 0 12 6* Queensland, 3, 1922-47 . 9(5 7 G 12 C* Queensland, 5, 1910 00 . 104 7 Ot 2 G« ; S. Australia, 3, 1910 opt. S7 O O 7 G* S. Australia, 5, 1945-75 . 107 15 0 --> 0* ■ W. Australia, 4. 1942-62 102 0 0 Same Tasmania, 34, 1920-40 . 101 0 0 10 0* t Tasmania, 4, 1940-50 .. 101 15 0 2 G* ] New Zealand,Mt, 1948-58 10G 7 0 22 fi* New Zealand, 3.J, 1940 . 102 10 0 7 0* New Zealand, 3, 1945 .1 OS 15 0 20 0« ! New Zealand, G, 193G-51 103 0 0 7 0* . tHigher. * Lower. {Ex dividend. ,