THE MONEY MARKET

Dominion, Volume 29, Issue 196, 16 May 1936, Page 14

THE MONEY MARKET

Bank of England Return GOLD HOLDING HIGHER Note Circulation Rising I.ondon, May 34. The Bank of England return for the week ended May 13 is as follows: — Issue Department.

Hank and Market Kates. The Bank of England rate of discount is 2 per cent., to which it was reduced irom 2.1 per ent. on June 20. 1032. Discount and short-loan interest rates are: Day-to-day loans. 3-8 per cent.: line. I ratio bills, three months, 2 to 2J per cent.; bank bills, three months, 9-1 G per cent.; bank bills, six months. 5-8 per cent.: Treasury bills, two months, A per cent.; Treasury bills, three months. A per cent. New York, May 13. Call money is quoted at 1 p‘*r cent. GOVERNMENT STOCKS London Markets Firm By Telegraph—Press Assn.—Copy right. London, May 11. The following table gives Stock Exchange quotations for consols and colonial inscribed stocks, compared with those of

SHEEPSKINS AND HIDES Wellington Prices Easier Prices of sheepskins anil hides showed an easier tendency at the sale held yesterday by the Wellington brokers. ■ A rather smaller offering than usual of sheepskins was submitted, and was disposed nf under keen competition, prices being a shade easier than Inst sale's quotations. Salted skins showed little change. Pair■ supplies of hides were brought forward, exporters and tanners taking the bulk of the offering. Prices of heavyweights declined by :}d. to Ad. per lb., medium and lightweights by Ail. to Jd. Yearling and kip were in demand anti showed an improvement of about fid. per lb. Calfskins remained fair. An average offering of tallow found prices slightly easier. The range of prices is as follows :— Dry sheepskins: Halfbred. 7d. to 10:}<l. Fine crossbred. 9(1. to 104(1. Medium

(Other Commercial News on Page (I.) (Live Stock Sale Markets on Page ifi.)

Votes Issued . £ In cireuGovt, debt 11.000,000 hllluu 421.8(1(1,tKill Utlier Govt. In banking securities 247.SOO.OOO dept. 39.500.000 (Hher sccurit ies 300.000 Silver coin 900,000 * £ 2(10,0(M),000 Gold coin & bullion 204.300,O'*) £ 4I14.3OO.IMM) £4(14.300,000 ♦Amount of fiduciary issi lie. Banking I Jepartnient. £ Capital 14.5(MI.(M>0 Govt, so89.900.000 Best 3,200.00'1 curit ies Discts., ad8.800,000 Public 13.400.001) vances Bankers 83,200.000 Other sc12.300,000 Other rarities accounts 37.(MXi.<MW Notes and coin 40.300,000 £151,300.000 151,300.000 Proportion of reset rve to liabilities. jo.is per cent., compared last week. with 31.10 The principal items of (he above return compare as follow wit li thos< • of last week :— May 0. May 13. Deposits : 9,200.000 13 400.0(H) Bankers J Other accounts 3 >8.300.000 16,700,000 83.200.000 37,000. O'H) £15 14,200,000 £ 133,(>00.(l'M) Securities : 89.900.000 Discts., adv’ces. 9,400.000 s.soo.oito other securities 11.900,000 12.300.000 ,,-v. 41.SOO.OIB) 40.300.000 Note circulation It Gobi coin & bul’n 21 ’2.1'00.000 424.800.000 >3,600,<MH) 204,300,<0K)

May 7: — J'riee.| Variation Consols, 24 p.c 85 10 (I same Fund. Loan. 4 p.c. .. 117 KI 0 same War Loan, 3 A p.c. . 10o t) () 0 5 or Conv. Loan. 3A p.c. .. 107 13 0 0 5 i • • Victory Bonds. 4 p.c. 115 10 0 same (’’wealth, 5. 1945-75 . 112 () 0 1 (."wealth. I!J. K13R-37 . 1112 1, 0 3 t IV (’’wealth. 4 1943-48 .. 104 18 9 0 7 t) 1 (."wealth, 31. 11148-33 . 104 10 0 same (’’wealth. •”>}. 1955-01 . 99 ; 1 0 .» '. 1V (’’wealth. .*», 1955-58 .. 04 ■ 1) <F 1 • > 1 X.S.W., 3 A. 1030-50 . 101 s 9 O 1 3* X.S.W.. 41. 11133-45 .. 102 . 1 0 same Victoria, 3. 1020-40 .. 1, . > sa me Victoria. 4}, 1040-50 . 100 17 11 0 2 i > > Victoria. 5, 1045-75 111 11 '< • O 2 (5* Q’land, 3, 11)22-47 .. 99 - ft 0 5 0* (.••land. r.no-(;ti .. IOS •. , i 0 1 s. Aust.. 3. ion; (opt.» SO (> O 7 • i S. Aust.. 5. 1045-75 .. 111 IS 0 0 2 0* W. Aust.. 4. 1042-02 .. 103 12 i, same Tusin.. 34. 1!12I)-4II .... 104 2 i; 0 2 (it Tasin.. 4. 1940-50 .... 103 15 0 O 7 X.Z., 41. KMS-5S .... 109 10 0 O i , > » XZ.. 3A. 1940 104 ■ * i 0 2 i tT X.Z., 3. 1945 101 . i 0 same X.Z.. 0. 19315-52 ... 102 15 11 0 1 tHigher. ‘Lower X Ex dividend.