MONEY MARKET.

Auckland Star, Volume LXVII, Issue 174, 24 July 1936, Page 4

MONEY MARKET.

RESERVE BANK RETURN. FALL IN NOTE ISSUE. BANKS' HOLDINGS HIGHER. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The Reserve Bank return for the week ended Monday, July 20, was, gazetted tonight. ' The statement is balanced at £27,429.594, or £7600 more than at the close, of the previous week. The note issue, which has been increasing moderately for. some time past, shows a fall of £50,311. Government deposits have fallen £80,331, compared with the level a week before, while the holdings of the trading banks are £195,100 higher. Other demand liabilities have fallen £00,056.

Variations oil the assets side are very minor in character. The greatest movement is in the item "other assets," which is higher by £10,476. The statement, with variations compared with the week before, is as follows: — LIABILITIES. , Variation. £ a 1. Gen. reserve .. . 1,500,000 Same 2. Hank notes 10,005,700 —50,311 o. Demand liabilities— (a) State 8,870,002 —80,331 (b) Hanks 0,702,030 +105,100 (c) Other 1(12,000 —00,050 0. Other liabilities 02,407 +3,102 Total 27,420,594 +7,000 ASSETS. 7. Reserve— (a) Cold 2,801,733 Same (b) Sterling ex. 22,127,158 +4,451 S. Subsidiary coin 101,075 —7,327 11. Investment .... 2,035,310 Same 13. Other assets ... 273,700 +10,476 Total 27,420,504 +7,000 Proportion of reserve to notes and other demand liabilities, 00.454 per cent (00.484 last week). BANK OF ENGLAND RETURNS. NOTE CIRCULATION STEADY. (Received 10 a.m.) LONDON, July 23. The Bank of England returns for the week ended July 22, compared with those of last week and a year ago, are as follow (in million pounds sterling): — ISSUE DEPARTMENT. Year July 22. July 15. aKO. Notes Issued— £ £ £ In circulation .... 443.0 443.3 408.2 In banking dept. . . 52.2 47.7 44.5 Other Govt, securities 247.7 248.0 240.4 Other securities .... 0.0 0.3 1.0 Silver coin 0.7 0.7 1.5 BANKING DEPARTMENT. Itest 3.0 3.5 3.G Deposits— Public 20.0 20.4 24.3 Bankers 95.2 00.0 75.0 Other accounts . .. 38.5 40.7 38.5 Govt, securities .... 05.8 00.8 87.3 Discounts advances . 0.5 5.0 10.8 Other securities .... 10.4 15.4 13.3 Notes and coin 53.1 48.7 45.0 Proportion reserve to liabilities ... 33.92 32.00 35.80

CONSOLS AND STOCKS. BRITISH FUNDS FIRMER. COLONIALS IRREGULAR. (Received 11 a.m.) LONDON", July 23. The following table gives quotations for Consols and colonial Inscribed stocks, compared with those of July 16:— VarlaPrice. tion. £ s. d s. d. Consols, 2J per cent .. S5 0 n 10 Of Funding Lonn. 4, I*l6o-90 117 10 O 30 Of War Loan. 3j. 1020-47 . I<m| 10 O 7 nt Conversion Loan, 3J .. 107 15 0 10 Ot Victory Bonds, 4 110 0 0 1(1 Of Com'wealth, 5, 1945-75 310 2 0 2 Of Com'wenlth, 3}, 1030-37 301 13 o 3 9* Com'wealth, 4, 1943-48 . 105 1 3 8 9* Com'wealth, 33. 1018-53 303 17 (i 2 lit Com'wealth. 3}, 1050-01 !'0 10 3 1 3f Com'wealth, 3, 1055-58 94 0 0 2 Ot X.S.W.. 31. 1930-50 ... 100 lrt O 11 3* N.S.W., <11. 1035-45 ... 100 11 3 1 3* Victoria, 3, 1029-40 08 2 lit Victoria, 43, 1040-00 ... 105 0 0 2 0* Victoria 5. 1045-75 100 13 9 Same Queensland, 3, 1922-47 . 08 10 0 2 0* Queensland, 5. 1040-00 . 108 2 (i 13* S. Aus.. 3, 1910, opt. .. S7 30 0 Same S. Australia, 5, 1945-75 109 15 O 2 fi* W. Australia, 4, 1942-02 102 8 9 1 3* Tasmania, 31, 1920-40 .. 102 15 0 Same Tasmania, 4, 1940-50 .. 302 30 0 5 0t New Zealand, 41, 39-IS-58 108 35 0 Same New Zealand. 35, 3940 . 102 5 0 5 Ot New Zealand, 3, 1945 . 100 12 (i 17 6* New Zealand, 0. 1930-51 102 13 9 Same tHisher. * Lower.