THE MONEY MARKET

Dominion, Volume 28, Issue 58, 1 December 1934, Page 10

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION HIGHER By Telegraph, Press Assn. —Copyright. London, November 2D, The Bank of England return for the week ended November 28 is as follows:—

Short Limns and Bills. The Bank of England rate of discount was reduced to 2 per cent, as from June 30. 1031. Short loans are quoted at J.per eent., the same as hist week. The market rale of discount, for best three months’ bills Is 15-32 per cent.,- compared with 3-8 per cent, last week. Brisbane Wool Sales Firm By Telegraph Press Assn.—Copyright Brisbane, November 30. The wool sales nave closed with a very animated market, and compared with earlier sales the market is ycry firm, any change being in sellers' favour. Greasy merino sold to 161(1. and scoured to 25Jd. London Wool Sales By Telegraph.--Press Assn.--<'opyright. London. November 29. At the wool sales to-day 70(15 bales were offered, including 1761 bales New Zealand. Australian and New Zealand wool sold totalled 6514 bales. The offering included good selection of greasy merinos and crossbreds. Keen Home and Continental competition was experienced, and full recent rates were maintained. New Zealand greasy crossbred, “Arakihi.’’ made Did. highest, and Sd. average. Scoured quarterbred, "D over N,” made 21 d. Bradford Tops Easier By Telegraph.—Press Assn.—Copyright Louden, November 21). Moderate business is being dune in the Bradford to.ps market. To-day’s quotations compare as follow with those previously cabled : — Novi NovB Nov 15 Nov 22 Nov 2!)

Position of Sterling By Telegraph.—Press Assn.—Copyright. London. November 29. : Tlie following rates on foreign exelinnges were current to-day, compared with those ruling on November 28:—

|Par. 8.23 31-32 since dollar devaluation on February 1. 1934. 1

Gold and .silver.

London. November 29. Cold —£ll/10/9 per lino ounce. Silver —Cask. 24 11-l Cd. per ounce; forward, 24 13-19(1. Melbourne Produce Markets By Telegraph.—Press Assn.—Copyright Melbourne, November 30. Wheat, 2/6} per bushel. Flour, £7 per ton. Bran. £4/15/-. Pollard. £5. Oats. dull. T/10 to 1/11 per bushel. Barley, English, 2/10 to 3/2. Maize. 3/7. Potatoes: Rodsoils. £5 to £5/10/-: onions, quiet, Globes £6 to £6/5/-. Brown Spanish. £5 to £5/10/-. By Telegraph.— Press Assn. —Copyright. Adelaide, November 29. Wheat, grbwers" lots. 2/4} a bushel. Flour, bakers’ lots, £7/7/6 a ton. Bran, £5 a ton. Pollard, £5/2/6 a ton. Oats. 1/S to 1/9 a bushel. Barley, 2/8} a bushel. * Pukekohe Potatoes Dominion Special Service. Pukekohe, November 30. H. H. Pattie, Ltd., report that supplies of Pukekohe potatoes continue to be in excess of the demand, which remains firm, with values at 6/9 to 7/3. The tonnage is lighter than originally ' anticipated, consequently the market is expected to remain firm. : Gold Mining Returns Skippers, Limited, yesterday advised the Wellington Stock Exchange that the first wash-up produced 320 z. lOdwt. of gold for 30 hours' work. By Telegraph.—Press Association. Dunedin, November 30. The Goldfields Dredging Co.. Ltd.. reports a return for the week ended today of 41oz. 12dwt. for 118 hours’ dredging.

Issue Department. Notes issue £ Govt, debt 11,015,100 In circulaOther Govt. don securities 245..wt.b->-Iii banking Other dept. 72.420.135 securities 630,(1.0 Silver coin 2,796,422 • £200.000.009 Gold coin & bullion 192,113.083 i 452.113.OS3 ‘.■452.113.083 ♦Amount of fiduciary issue. Bunking Department. £ tW Capital 14.553.(h Hi Govt Rest 3.278,188 securities 80.361,413 Deposits .• Disci s.. Public 27.Gil2.H51 advances il.lua.iuBankers 80.125.832 Other Other a/es 38.133.707 securities IO.2i2.n4i) 7-da.v, etc. Notes »2.426,135 bills .. . . 40 Gold aud silver coin 567,952 £ 172.783.7S1 £172.783.781 Proportion of rese per cent.. compared with 47.110 per eent. last week : The principal Items of the above return compare as follow vith those <»t tasi week: — Nov. 21. Nov. 28 Deposits: Public 25.337.937 27.092.1151 Bankers 95.890,889 80,125.832 Other accounts . 37.071.494 38.733.Hi) £ 158.900.320 £ 154.052,553 Government .... 80.091.413 S0.3ilt.413 advances 8,010.773 9,155.732 12,181.711 10.272.,>49 75,790.892 72.9II4.OS7 Note circulation .. 70.904.842 379,080.948 Gohl coin & bullion 92,113.083 192.113.083

Per lib I*er lb;29 .Per lb. Per lb. Peril). 70s 28?. 28 271 61’s 2 Or ay 21f 2a J -•) 60s •J. « 25 21 234 23 all’s JIH 10 J 1 ’ 1 19 18.1 all's 14 14 iZ n 14 4ti’s 11 11 11 11 10? 40’s Oil 9’1 9’2 91 91

Nov. ‘29. Nov. 28. Par N. York. do!, to £ -1.118 5-32 4.08 0-1(1 t4.80(> Montreal, dol. to X‘ 4.80 4.801-8 4.800 Paris, fr. to £ 75 10-32 75.05 1.24.21 -Brussels, bel. to z. 21.30 21.38 35,00 Geneva, fr. to £ 15.305 15.383 25.225 ■Anist'dam, fl. to .£ 7.37 7.375 12.107 Milan, lire to £ 58.375 58 7-16 92.46 Berlin, niks. to 4* 12.48 12.415 20.43 St’holm, knr. to X* 19.395 19.393 18.150 C’hagen. knr. to £ 22.305 22.305 18.150 Oslo. knr. to , £ 19.905 19.905 18.159 Vienna, seligs. to £ 27 ■ 27 34.585 Prague, knr. to V 119 3-10 119 5-16 164.25 flel’fors. mks. to £ 220.75 220.75 103.23 Madrid, pes. to £ 30 15-32 30.50 25.225 Lisbon. esc. to £ 110.125 110.125 110 Athens, drnch. to £ ’523 *523 375 Belgrade, din. to 1* 220 220 276.31 Bucharest, lei to * 4S7 487 S13.60 Warsaw. zloty to £ 26.37 — 43.38 Rio de J.» p. to mil. +4 4 tI4 5.S99 B. Aires, p. to peso t3O4 7304 47.62 M. Video, p. to peso f 39 1-8 439 1-8 51 Calcutta, p. to rup. 18 3-64 18 3-04 18 Shanghai, p. to dol. 161 161 —— IT.-Kong, p. to dol. 20 1-8 20 1-10 —■ Y’hama, n. to yen 14 1-64 14 1-64 24.582 Batavia, fl. tn £ 7.355 7.355 12.107 official. ♦Sellers.