RESERVE BANK RETURN

Press, Volume XC, Issue 27277, 18 February 1954, Page 14

RESERVE BANK RETURN

FURTHER INCREASE IN STERLING FUNDS The chief point of interest in the Reserve Bank return for the week ended February 10 is the sustained appreciation .of sterling exchange. The figure now stands at £65,475,000, an increase of £2,518,000 on the previous week. Thus, today, the total of sterling exchange held by the bank is less than £500,000 below • the July, 1953, figure of £65,948,000—the highest point reached since the revaluation of the New Zealand £ in 1948. Comparative weekly returns are as follows:

COMPANIES REGISTERED

Registration of the following companies is notified in the current issue of the "Mercantile Gazette”:—

Riccarton Jewellers. Ltd. Private company, February 1. 102 A Riccarton road. Capital: £lOOO in £1 shares. Subscribers— Christchurch: L. R. Robertson 999, C. L. Sturge 1. Objects: watchmakers, jewellers, etc. „ . Canterbury Advances, Ltd. Private company, February 4, 221 Manchester street. Capital: £3600 in £1 shares. Subscribers—Christchurqh: G. A. Mcßeath 500. P. R. Hadley 700, W. L. Fairclough 300, D. I. Fairclough 600, L. R. F. and S. J. Johnston, E. V. and L. C. Nettleton 350 each, N. L. Hider 100. Objects: advance money and incidental. Coleman's Cash Butchery (Cranford street), Ltd. Private company, February 8. 248 Cranford street. Capital: £l5OO in £1 Shares. Subscribers—Redcliffs: J. A. Coleman 550. M. E. Coleman 200. Christchurch—D. H. Farquhar 750. Objects: butchers and incidental. Professional Properties, Ltd. Private company, February 9. 97 Worcester street Capital:' £4OOO in £1 shares , Subscribers —Christchurch: H. G. Royds 1500, N. S. Sutherland 500, F. Nicholls 1500, liam Investments, Ltd 500. Objects: land, buildings, and incidental.

Liabilities F eb. 3. Feb. 10. (£000) (£000) General reserve .. 1,500 1.500 Bank notes .. . ■ 69,431 68,774 Demand liabilities— v State: Govt, marketing .. 2.595 2,765 Other .. .. 9.278 9.157 Banks .. •• 97,472 97,666 Other: Marketing organis. .. 258 269 Other demand liabilities 1,143 1.410 Other currencies .. 25 24 Other liabilities .. 7,259 7,444 Total .. .. 188,961 189,008 Assets Reserve— Gold .. .. • • 6,065 6,095 Sterling exchange .. 62J&57’ 65,475 Other exchange .. 451 437 Subsidiary coin .. 605 605 Advances to State— Marketing account .. 751 754 For other purposes .. 50,000 50,000 Other advances— Marketing orgahis. .. 4,044 1,859 Other .. .. 6,019 6,019 Investments— Sterling .. 23.840 23.840 Other .. .. 33 230 33,221 Other assets .. *. 999 703 Total .. .. 188.961 189,008