RESERVE BANK RETURN

Press, Volume XCVIII, Issue 28821, 16 February 1959, Page 16

RESERVE BANK RETURN

Rise In Sterling Holdings Sterling exchange holdings of the Reserve Bank rose £l.sm to 42.1 m at the close of business on Wednesday, February 11. The week before the sterling holdings stood at £40.6m. These figures are shown in the latest return of the Reserve Bank. There were falls in advances to state undertakings and marketing organisations. As in the week before there were no other advances. Advances to the state were £37m, compared with £ 37.1 m the previous week. A drop of £l.sm is shown in advances to marketing organisations. Main items from the latest week’s return, with the previous week’s figures, are as follows: Liabilities

BRITISH PLASTICS EXPORTS N.Z. Second Biggest Buyer Exports of plastics raw materials from the United Kingdom last year reached 122.600 tons, worth more than £32m, according to the British Plastics Federation. Exports to New Zealand were worth £2.4m, a 50 per cent, increase on the figure for 1957. As an importer of raw plastics materials the Dominion was second only to Australia as a customer of Britain (nearly £4.5m worth in 1958). The other major customers were France, Sweden, South Africa, the Netherlands and Western Germany. The raw materials include moulding powders, resins, sheet, rod, tube, film and foil.

Feb. 11. Feb. 4 £000 £000 Bank notes 75.054 75,116 Demand LiabilitiesState .. T. 9.599 10,424 Marketing 289 295 Trading banks 57.744 57,422 Other 380 402 Assets ReserveGold 315 315 Sterling exchange 42,128 40.643 Other exchange .. 388 586 Investments— Overseas .. 13.589 13.569 In tyew Zealand .. 22.807 22.807 Advances— State 37,000 37,108 Market orgn'a. .. 36,614 38,120 Other Other Assets— Gold .. •• 5.848 5.848 Other 992 1,042