BANK OF ENGLAND RETURN

Press, Volume LXXI, Issue 21536, 27 July 1935, Page 14

BANK OF ENGLAND RETURN

;TW^fo|lowia»; ; -ii':;th«;'"" Notes leaned— Govt, debt iI.OJQCi«» In circula- ■■;;■ tlon 400,809,953 { aeenri. In bank- V , .ties . 848,878,930: Ing dopt. 61.908,898' Other seco. Silver eola 1,889,**5.

„ Fidacl*rj issot;. 8«0.-00q,fl||><» Gold *»lb Total 452,716,85 V ' Total '.45?,716;t5l BANKING DEPABTitEira" .■*...-.■' r -".. *V- : Proprietors' Qov*. teencapital 14.553.000 rities 88,741.04* i The rest ] 8.557,882 Other seen- ' Public de rUles- . posit* 8,871,319 Discounts Otlnrdenositsr- > «nd,ad Bankers 100,815,089 vancea 10,822,878 , Other ace. 86,608,954 Secwitiea 1Z.880.81T Seven day Notes 61,906,898: and other Gold and bills • iilve* «ojßi. 848,04 a Total 164,404,174 Total lBMHlt* Proportion o/ reserve to lUolllUea. 85.80 per cent.; short-dated bills,.' J'par cento three months' bills, f per.cent., , BANK OP NEW ZEALAND ! The sales have closed firm for;all wools, the market for greasy crossbreds being very -strong. Merinos— d. d. Super, 60/64's .. 15 to W Ordinary, 60/64's .. 13| to 14 Inferior, 60/64*8- ~ 11 to lift Halfbreds— - 58's .. .. U to 12 50/56*s ~ .. 8| to 10 Crossbreda—50*s .. .» 8 to Vk 48-50's ■■.'..■ .. 8* to 8 46/4q'!i .. ;..• 7| to « 44/46*8 .. .. 74 to 71. 40/44's .. .. 7 to 7J 36/40's ''•■„• ■..'■ «J to 7 AUSTRALIAN WOOL FOR CHINA ENCOURAGING CONSUMPTION Mr W. M. Fleming, : chairman of China, Woollen Mills Development Company, Ltd., addressing, the first annual general meeting in Sydney last week.- said that the directors had dropped the idea of buying into woollen mills in China.-Careful consideration had led to the belief that they could do best by supplying raw wool. As against £120,0W required for the mill proposition,. this would need on'y £30.000. and one-third of that would be sufficient to begin operations. The surest and- most permanent way of increasing prices was by widening the demand, continued the chairman. The best way of. widening demand was by opening up new markets, In the case of wool this was doubly essential, for it was only too evident that the use pf substitutes was restrict'ng our mar'ket in Europe. Australia produced barely one pound of clean wool for each resident of Chinai A rapcrt prepared for the company showed that China, which was now controlled bjr a stable government, wanted Australian wooL Tfre general scheme, cincuded the chairman, Was to get the Chinese acquainted with Australian wool It was hoped to open- up an avenue to displace the. padded cotton garments with wool