THE MONEY MARKET

Dominion, Volume 29, Issue 133, 29 February 1936, Page 12

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION RISES By Telegraph.—Press Assn.—Copyright. London, February 27. The Bank of England return for the week ended February 26 Is as follows: —

Bank and Market Bates. The Bank of England rate of discount is 2 per cent., to which it was reduced from 2$ per cent, oir June 30, 1032. Discount and short-loan interest rates are: Day to day loans, 3-8 per cent.: fine trade bills, three months, 2 to 2) per cent.; bank bills, three months, 9-16 per cent.: bank bills, six months, 5-8 per cent.; Treasury bills, two months, i per cent.; Treasury bills, three months, i per cent.

GOVERNMENT STOCKS London Market Irregular By Telegraph.—Press Assn.—Copyright London, February 27. The following- table gives Stock Exchange quotations for eonsols and colonial inscribed stocks, compared with those of

(British Official Wireless.) Jyondon, February 27. On the London Stock Exchange *to-dav the markets were irregular on the disturbed foreign political outlook. Japanese bonds, which fell yesterday on the news of the political assassinations, registered a further fall of one-half to one point this morning. British funds were Inactive.

Base Metals Market By Telegraph.—Press Assn.—Copyright. (Received February 28, 9.10 p.m.) _. _ , , , London, February 27. The official London (middle) quotations for Thursday, as reported by the Australian Mines and Metals Association, compare with those previously cabled as follow

Bradford Tops Market Firm By Telegraph-Press Assn.-Copyright. London, February 27. The Bradford tops market is firm, with a small amount of business passing. Latest quotations compare with those previously cabled as follow:—

Overseas Wheat Markets By Telegraph.-. Press .-Vsn <’<q>vriehi London, February 27. Wheat cargoes to-day were firm, but parcels were quiet. Futures: London, March, 29/8} a quarter; July, 29/10. Liverpool, March, 6/0} cental; May, 6/1}; July, 6/2}. The spot trade is quiet. Australian, ex ship, ,32/3 to 32/6 a quarter. Flour is steady. Australian, ex store, 22/- to 22/6 n sack. New York, February 27. Chicago wheat futures: May, 100} cents a bushel; July, 91} cents; September, 90} cents. Gold Mining Returns Worksop Extended Gold Dredging Co., Ltd., report a return of 30 ounces for 9800 cubic yards worked in 135 hours. Golden Dawn reports that for the 23} working days ended February 17, 794 tons was treated for an approximate realisation of £4153, taking gold at £7/2/per ounce. (Live Stock Sale reports will be found on Page 14.)

Issue Department. £ £ Notes issued: Govt, debt 11,000,000 In circuOther Govt. latlon 308,900,000 securities 243,800,000 In bankOilier Ing dept. 00,700,000 securities 2,100.000 Silver coin 1,100,000 •£260,000,000 Gold coin & bullion 200.600,000 £400,600.000 £460,600,000 •Amount of fiduciary issue. Banking Department. £ £ Govt. Rest 3,700,000 securities 82,100,000 Deposits: Discts., Public 8.800.000 advances 11,000,000 Bankers 106.200.000 Other Other a/cs 35,500,000 securities 14,100,000 Notes and coin 61.300,000 £168,700.000 £ 168,700,000 Proportions of reserve to liabilities. 40 * 8 ; ) per cent., compared vfrith 41.6a per cent. ' !1 The'prlnclpal items of the above return compare as follow with those of last week: Feb. 19. Feb. 26. Deposits: Public . ,£ 11,100,000 8.800,000 106,200,000 Other accounts .. 36,000,000 33,500,000 £154,700,000 £130,500,000 Securities: Government .... 78,700.000 82,100,000 Discts., advances 11.700,000 11.000,000 Other securities 18,100,000 14,100,000 "Reserve 64,400,000 61,500,000 ■Note circulation .. 396,900,000 399,900,000 Gold coin & bullion 200,600,000 200,600,000

February 20: — Price. Variation £ s. d. £ a. d. Consols, 2} p.c 85 5 0 0 7 6* Fund. Loan. 4 p.c. .. 118 12 6 0 2 6* War Loan, 3) p.c. .. 100 17 6 0 10 0* Conv. Loan, 3J p.c. .xlOfi 17 fi 1 15 0» Victory Bonds, 4 p.c. xll5 5 I) 3 10 O’ C’wealth, 5, 1045-75 . Ill 10 0 same C’wealth, 31, 1030-37 . 103 1 3 0 1 34 C’wealth, 4, 1043-48 . 105 2 « 0 2 6* C’wealth, 3}, 1048-53 104 2 0 0 1 3’ C’wealth, 3}. 1055-01 . 00 17 fi same N.S.W., 3}, 1930-50 ... 101 2 6 0 2 8* N.S.W., 4 k 1935-45 .. 104 12 6 same N.S.W., 5, 1035-55 ... 102 10 0 0 1 3t Victoria, 3, 1920-40 .. O'.) 1 3 0 5 O’ Victoria, 4*2, 1940-50 .. 100 2 0 same Victoria, 5. 1945-75 Ill 5 0 0 1 3* Q’iand, 3, 1022-47 .... 09 0 0 0 5 O’ Q’iand, 5, 1940-60 .... 109 11 3 0 2 O’ S Aust., 3, 1916 (opt.) 89 10 3 0 6 34 S. Aust., 5, 1045-7? . Ill 10 0 0 10 04 W. Aust.. 4, 1042-62 . 103 2 0 0 2 O’ Tasm., 3}, 1920-40 ... 103 1 3 0 3 04 Tasm., 4, 1940-50 .... 103 10 0 0 2 fit N.Z., 4i, 1948-58 100 8 9 0 I 34 N.Z., 3J, 1940 103.12 8 0 5 64 N.Z., 3. 1945 102 5 o N.Z.. (1 1930-52 102 2 fl n i tHigher. ’Lower. x Ex dividend.

Feb. 26. Feb. 27. Copper— Per ton. Per ton. £ s. d. d Standard, spot z .. 35 16 3 35 11 3 Ditto, forward ... 36 3 1} 35 18 ft Electrolytic, ..... 40 0 0 40 0 0 - - to 40 10 0 40 5 o w ire bars 40 10 0 40 5 0 Lead— Spot 10 5 o 16 8 16 10 9 0 Forward • •• 16 7 6 Spelter— Spot 15 15 o 15 17 16 1 6 3 Forward 0 TintSpot 209 17 6 213 10 o Forward Silver— 201 12 6 203 10 0 Standard, per or. . litld. 191d. Fine 215-16d. 21 5-16d. fAmerlcan, 45.85 cents a lb.

Jan. 30 Feb. Feb. Feb. Feb. 27. 6. 3. 20. Merinos—• d. d. d. d. d. 70's 34| 34} 34} 34} 34} 04 s . . 33 33 33 33 33 60's 32 32 32 32 Crossbreds— 5S’s 25} 25} 254 251 25} 20} 20} 20} 204 204 50’s 16} 161 16} 164 161 46’s ..... 14} 14} 14} 14} 14} 44’s 13} 13} 13} 13} 13$