FINANCE AND COMMERCE

Press, Volume LXXII, Issue 21974, 24 December 1936, Page 13

FINANCE AND COMMERCE

RESERVE BANK Fl<;i!JtES INCREASED WHEAT PRICES FORECAST The Reserve Bank closed down business for the year on Monday of this week. The figures up 1o that date disclosed an increase of £588,140 in the note issue, compared with the position last week. Demand liabilities to the State are shown at £867,469 less and those to the banks at £257,023 higher. Other demand liabilities are £ 13,823 less. "Other liabilities" are £80,758 less. On the assets side, sterling exchange shows a decrease of £83,478, and coin a decrease of £3584. Advances from the dairy account are £6 44,763 greater, and for "other purposes" £500,000 greater. There is no change in the amount of investments, and other assets are less by £178,783. An increase in the price paid to farmers for milling wheat was foreshadowed by the Minister for Industries and Commerce (the Hon. D. G. Sullivan) yesterday. Mr Sullivan also indicated the probability of fowl wheat being controlled. Dairy produce is apparently at present in the commercial doldrums. Since Friday the price of New Zealand butter on the London market has decreased by another 4s, leaving the quotation for salted at 96s and unsa'ted at 104 s.