RESERVE BANK RETURN

Press, Volume XCVIII, Issue 28981, 24 August 1959, Page 16

RESERVE BANK RETURN

Further Rise In Sterling

Sterling and other exchange held by the Reserve Bank rose £o.Bm to £ 76.3 m in the week ended August 19. Increases in trading banks’ deposits, and in non-marketing advances to the State, were the biggest movements in the latest returns. Main (terns from the latest week's return, with the previous week’s figures, are as follows:

Wright, Stephenson.—Final dividends are 2J per cent, preference and 7 per cent, ordinary (10 per cent, for the year). Dividends are payable on October 8. ex September 24.—(P. A.)

New Bid for Harrods.—A higher bid for Harrods, the fashionable London store where the Queen often shops, was announced last night when the Debenham group of stores increased their offer to a total value of £38,600,000. Debenhams are fighting against rival bids from the Glas-gow-based house of Fraser. Last Monday Mr Hugh Fraser raised his offer for Harrods to £35.200,000. N.Z.P.A., London, August 19.

Liabilities Aug. 19 Aug. 12 . >n< ■1 Bank notes .. 74.499 74,661 O’ und LiabilitiesState .. .. 7.447 7,976 Marketing .. 582 506 Trad, banks .. 63.242 61,291 Other .. .. 1,397 931 Assets Reserves— Gold 315 315 Sterling exchange 75.809 75.060 Other exchange .. 473 388 investments— Overseas .. 13,694 13,694 In N.Z .. .. 22.808 22.HOIAdvances— State .. .. 18.456 15.644 Market org’ns. 17,437 18,711 Othci Assets— Gold .. .. 5.848 5.H48 Other .. .. 755 1,286