THE MONEY MARKET

Dominion, Volume 28, Issue 98, 19 January 1935, Page 10

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION LOWER By Telegraph.—Press Assn.—Copyright. I.oiidon. January 17. The Bank of England return for the week ended January 10 is as follows:— Issue Department. £ ’ £

•Amount of fiduciary issue. Banking Department.

Proportion of reserve to liabilities, 47.00 per cent., compared with 42.70 per cent, last week. The principal items of the above return compare as follow with those of last week.... Jan. 9. Jan. 16.

The Bank of England rate of discount was reduced to 2 per cent, as from June 30, 1931. Short loans are quoted at -J per cent., the same as last week. The market rate of discount for best three months’ bills is J per cent., compared with 13-32 last week.

DEALINGS ON ’CHANGE Yesterday’s Sales The following sales were recorded yesterday on the stock exchanges mentioned :— WELLINGTON.

SYDNEY STOCK EXCHANGE Industrials Steady By Telegraph.—Press Assn.—Copyright. (Received January 18, 9.35 p.m.) Sydney, January 18. The business invecrtnieuts section of the Stock Exchange to-day was coutined 11most wholly to unclassified stocks. Industrial interests were traded mainly at steady rates. Gold shares were inclined to weaken. Sales: Commercial Bunk of Sydney, £l7/15/-; Bank of Australasia, £ll/10/-; Australian Provincial Assurance, 11/2; Associated News, 24/3; ditto, pref., 24/6; Howard Smith, 16/6; Australian Gas, A, £B/2/-; British Tobacco, 39/3; Teohcys, 30/6; Australian Glass, 63/9; Dalgetys, £S/15/-; Goldsbrough Mort. 30/1J; Wilcox Mofflin, 10/8; Electrolytic Zinc, 22/6; Farmers, 27/-; David Jones, 41/-; Standard Cement, 19/10}; Victoria Nyanza, 5/-; General Industries.

13/11; Amalgamated Textiles. 10/10; Drug Houses of Australia, 2G/9; Unite! Provisions. 9/-. Mount Morgan, 38/-; Broken Hill Proprietary, 54/3; Kuala Kampar, 13/3; Euratha, 7/4. Commonwealth bonds, 4 per cent., 1938, £104; 1941, £106; 1944. £lO7/10/-: 1947. £lO9/10/-; 1950, £ll'l/7/6; 1953. £199 15/-; 1955, £lO9/17/6; 1957 £llO/17/6; 1959, £llO/17/6, 1961, £lll/2/6. Morning sales inluded: Commonwealth bonds. 4 per eent.. 1938. £104; 1941, £106; 1959. £llO/15/-; Tooths. 51/-; Associated News. 26/3; Broken Hill Proprietary. 54/3- Dunlop. 20/-; I Howard Smith. 16/-. Melbourne. January IS. 1 Sales or, t’w Melbourne Stock Exchange included : Commercial Bank. : 16/9; National Bank. £lO paid. £l3/4/-: j Herald and 'Weekly Tunes. 57/6; G01d.,brough Mort. 30/14; Mount Lyell. 17/-. London Egg Market By Telegraph.— Press Assn —Copyrigln London, January 17. The egg market is very weak. Austr.i- : lian fourteene. 8/-; fifteens, 8/G; sixteens. 9/3.

Notes issued: In circulation 378,107,218 In banking dept. 74,206,474 Govt. debt. 11,015,100 Other Govt. securities 245.890,923 Other securities 647,326 Silver coin 2,446,651 *260,000,000 Gold coin & bullion 102,403,602 ■ 432,403,602 432,403,602

£ Capital J 4.553,000 Govt, seenRest 3,541.010 rities 83,356,413 Deposits: Discts., adPublic 14,103.044 vanecs 9.052,730 Bankers 10S.73S.410 Other soOther a/cs 30.HG.175 eu rities 9.866,279 7 day. etc. Notes 74,296,474 bills —. Gold & silver coin 540,349 177,112,245 177,122,245

Deposits: £* £ Public . 11,05,542 14,163,044 Bankers . 108.522,107 108,738,416 Other accounts . . 36,571,001 36,116,175 156,099,610 159,017,635

Securities: Government 88.090,413 83.350.413 Discts., advances 9.041,211 9,052,730 Other securities . 10.754.822 9.S06.279 Reserve 07,190.990 74.830,823 Note circulation ... 385,000.525 378.107,218 Gold coin & bullion 192,302.099 192,403,092

£ s. cl. Government Bonds. 4 p.c., 1949 .. 100 10 0 Ditto, 4 p.c., 1955 Bank o£ Australasia 109 17 (1 *11 12 0 Ditto (2) 11 12 (J National Bank of N.Z 3 11 9 Ditto 3 12 6 Bank of New Zealand '. •2 9 o Reserve Bank 0 12 6 N.Z. Refrig., 10/- paid, cum div. *0 10 9 Kaiapoi Woollen (2) 0 15 () Ditto 0 15 7 Leyland-O’Brien. 1 1 6 N.Z. Breweries •2 11! 3 Big River 0 2 1 King Solomon 0 3 7 Mount Morgan ♦ -1 18 o Unlisted: Woolworths (Syd.), ord •4 0 0 Ditto *4 7 0 Ditto 4 7 3 Argo Gold, paid ♦0 1 3 ♦Late* sale Thursday. AUCKLAND. £ s. d. Government Bonds, 4 p.c., 1955 . 109 10 0 Comm. Bank of Aust 0 16 6 National Bank of N.Z 3 11 6 Ditto 3 12 0 Bank of New Zealand 2 9 9 Ditto 2 9 10 Ditto 2 10 0 Reserve Bank 6 13 0 Auckland Gas, con 0 19 3 Leyland O'Brien 1 1 0 Kaiapoi. Woollen 0 15 6 Broken Hill Pty 2 13 9 Farmers’ Fertiliser 0 18 9 Wilsons Cement 1 13 0 Consolidated Goldfields 0 15 9 King Solomon 0 3 3 Mataki 0 1 9 CHRISTCHURCH. Inscribed stock, 4 ,p.c., 1937-40 .. ,C s. d. 103 0 0 Ditto, 4 p.c., 1943-46 105 15 0 Ditto, 4 p.c., 1952-55 100 0 0 Com. Bank of Aust., cum div. (2) 0 16 6 N.Z. Refrig., 10/- pd, cum div. (2) 0 10 British ToTjacco 1 19 4 Consol. Brick o io 1 Dunlop Rubber (2) 0 19 10 Sun Newspapers ......... 0 4 0 Bell Kilgour 0 0 Ji Big River (3) 0 2 1 Ditto (2) 0 2 z Rawang Tin (5) 0 7 9 Sales reported— Bank of New Zealand 2 9 9 Waihi (2) 1 19 (J Rawang Tin 0 7 9 Unlisted— Argo Gold, lOld. paid 0 1 •> Macetown 0 1 4 DUNEDIN. ■ £ s. d. King Solomon 0 3 8 Ditto (2) 0 3 7 Sales reported:— Otago Daily Times ♦2 12 0 Bank of New Zealand 2 9 6 Ditto, D pref 1 It 0 Big River (2) 0 2 Bell Kilgour 0 0 11 •Late sale Thursday.