MONEY MARKET.

Auckland Star, Volume LXVII, Issue 114, 15 May 1936, Page 4

MONEY MARKET.

RESERVE BANK RETURN. DECREASED NOTE ISSUE. HIGHER STATE DEPOSITS. (By Telegraph';— Press Association.) WELLINGTON, Thursday. ■The Reserve Bank return for the week ended Monday, :May 11, was gazetted tonight. The statement is balanced at £28,919,532, or £71,739 more than at the close of the previous week. The note issue, which showed a small | recovery in the last return from the fall experienced after Easter, is again lower, by £122.800. Government deposits have increased by £437,956, while the holdings of the trading banks are £201,408 lower. Other demand liabilities have fallen £42.927. The principal movement on the assets side is an increase of £70.892 in the item other assets. Sterling exchange shows the negligible fall of £299 on the level of the week before. The statement, with variations compared with the week before, is as follows: — LIABILITIES. Variation. £ £ 1. Gen. reserve . 1.500,000 Same 2. Bank notes . . 10,134,603 —122,800 3. Demand liabilities— (a) State ... 8,914,813 +437,950 (b) Banks .. 8,208,2110 —201,408 (c) Other .. . 83,582 —12,927 G. Other liabilities 78,208 + 91S Total 28.919,532 +71,739 ASSETS. 7. Reserve— (a) Gold 2,801,733 Same (b) Sterling ex. 23,915,145 —299 S. subsidiary coin 203,005 —ISO 11. Investments . 1,810,003 +1,270 13. Other assets . 182,020 +70,892 Total 28,919,532 +71,739 Proportion of reserve to nates and other, demand liabilities, 97.716 per cent (97.97 last week). BANK OF ENGLAND RETURNS. NOTE CIRCULATION HIGHER. BANIf DEPOSITS DOWN. (Received 12 noon.) LONDON, May 14. The Bank of England returns for the week ended May 13, compared with those of last week and a year ago are as follows (in million pounds sterling):— ISSUE DEPARTMENT. Tear May 13. Ma; C. ago. Notes Issued — £ £ £ In circulation .... 424.S 422.0 390.2 In banking dept. . 39.5 41.0 02.3 Other Govt, securities 247.S 247.7 210.s Other securities .... 0.3 0.4 0.3 Silver coin 0.9 0.9 I.S BANKING DEPARTMENT. Rest 3.2 3.2 3.2 Deposits— Public 13.4 9.- 7..S Bankers 83.2 88.3 .108.0 Other accounts ... 37.0 . 30.7 38.4 Govt, securities .... 50.9 88.8 SC.J Discounts advances . B.S 9.4 5.7 Other securities .... 12.3 11.9 11-0 Notes luid coin 40.3 41.8 03.0 Proportion reserve to liabilities .. . 30.18 31.16 42.30 , CONSOLS AND STOCKS. BRITISH FUNDS STEADY. COLONIALS FIRM. (Received 12.30 p.m.) ; f LONDON, May 14. . The following table gives quotations for consols and colonial inscribed stocks, compared with those of May 7 : — VarinPrlce. tion. £ s. d s. d. Consols, 21 per cent .. S5 10 0 Same Funding Loan, 4, 1960-90 117 10 0 Same War Loan, 31, 1929-47 . 100 5 0 » Of Conversion Loan, 31 .. 107 15 0 o Of Victory Bonds, 4 115 10 0 ? aI U9 Com'wealth, 5, 1945-75 112 7 0 1 oj Com'wealth, 31, 1930-37 102 2 0 •> .jt Com'wealth, 4, 1943-48 . 104 18 9 < Of Com'wealth, 53, 1948-53 104 10 0 Same Com'wealth, 3s, 1956-61 99 3 9 3 9t Com'wealth, 3, 1955-58 94 3 9 1 3f X.S.W., Si. 1930-50 ... 101 8 9 1 3* N.S.W., 4*. 1030-45 ... 102 5 0 Same Victoria, 3, 1929-49 ... 99 0 3 Same Victoria, 12, 1940-00 ... 100 17 0 2 Of Victoria 5. 1945-75 .... 11l 10 3 2 0* Queensland, 3, 1922-47 99 2 0 5 0* | Queensland. 5. 1940-00 . 108 7 0 5 0 t S. Aus„ 3, 1910. opt. .. 89 2 0 7 ti* S. Australia, 5, 1045-75 111 18 0 2 0* W. Australia, 4. 1942-62 103 12 0 Same Tasmania, 3J, 1920-40 .. 104 2 0 2 Of Tasmania, 4, 1940-50 .. 103 15 O 7 6f New Zealand, 4J, 1945-58 109 10 0 7 Of New Zealand, 34, 1940 . 101 3 9 2 Of New Zealand,,3, 1945 . 101 5 0 Same New Zealand, 0, 1930-01 102 15 0 1 3f