THE MONEY MARKET

Dominion, Volume 30, Issue 113, 6 February 1937, Page 12

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION UP London, February 4. The Bank of England return for the week ended February 3 is as follows:— Issue Department.

Bank and Market Rates. The Bank of England rate of discount Is 2 -per cent., ?to which it was reduced from 24 per cent, on June 30, 1932. Discount and short-loan interest rates are: Day-to-day loans, 4 per cent.; fine trade bills, three months, 2 to 24 per cent.; bank bills, three mouths. 9-16 per cent.; Treasury bills, six months, 5-8 per cent.; Treasury bills, three months, 4 per cent. New York, January 27. Call money is quoted at 1 per cent. GOVERNMENT STOCKS London Market Changes By Telegraph.—Press Assn.—Copyright. London, February 4. The following table gives Stock Exchange quotations for consols and colonial inscribed stocks, compared with those of

FOREIGN EXCHANGES Position of Sterling ! By Telegraph.—Press Assn.—Copyright. London, February 4. The following mean closing rates on foreign exchanges were current to-day compared witli those ruling on February

London, Februarj’ 4. Gold.—£7/2/- an ounce, fine. Silver.—Spot, 1945-16 d. an ounce; forward, 1915-16 d. On New Zealand Currency Basis The Bank of New South Wales, Wellington. quoted the following rates for their purchases and sales of foreign exchange yesterday:—

The Associated Banks (other than the Bank of New South Wales), quoted the following dollar rates yesterday, on a New Zealand currency basis. They aro subject to alteration without notice.

Notes issues: £ £ In eircuGovt, debt 11,000,000 lation 457,300,000 Other Govt. In banksecurities 1S7.000.000 ing dept. 56,400,000 Other seentities 1.100,000 *£'200,000,000 Gold coin & bullion 313,700,000 £ 513 7nn non £513,700,000 £513,700,000 •Amount of fiduciary issue. Banking Department. £ £ Capital 14,500.000 Govt, seRest 3.000,000 curities 80,400,000 Deposits : Discts., adPublic 12.200,000 vances S.500,000 Bankers 06,100,000 Other seOther curities 18,900,000 accounts 38,300,000 Notes and coin 56,900,000 £ 164.700,000 £164.700,000 Proportion of reserve io liabilities, 38.78 per cent., compared with 41.45 per cent. last week: The principal items of the above return compare as follow with those ■ of last week:— .Tan. 27. Feb. 3. Deposits: £ £ Public 12,200,000 12,200,000 Bankers 98,400,000 96,100,006 other accounts . 38,400,000 38,300.000 £149,000,000 £146.600.000 Securities: Government 78,600,000 80,400,000 Discts., advances S,000,000 8,500,000 Other securities 18,700,000 18,000,000 61,800,000 56,900,000 Note circulation .. 152,300,000 457.300,000 Gold coin & bullion 313,700,000 313,700,000

January 2S Price. Variation £ s. d. £ s. d. Consols. 2} pc 82 15 0 0 5 4t Fund. Loan, 4 p.c. .. 115 0 0 0 10 Of War Loan. 34 p.c. .. 104 12 0 10 ot Conv. Loan, 34 p.c. .. 105 12 6 0 7 •it Victory Bonds. 4 p.c. 113 10 0 0 5 ot C’wealth, 5, 1945-75 . 108 12 (1 0 12 fit C’wealth, 31, 1937-37 . 101 « 0 2 fit C’wealth, 4. 1943-48 .. 103 3 9 0 6 3 C’wealth, 3.?, 1948-58 . 102 2 6 0 2 «* C’wealth, 34, 1955-61 . 99 3 0 0 1 3« C’wealth, 3. 1955-58 . 95 17 (J same N.S.W., 44, 193'5-45 .. 100 0 0 0 1 3t Victoria, 3. 1929-40 .. 98 5 0 0 7 fit Victoria, 43, 1940-60 .. 103 5 0 0 10 0* Victoria, 5, 1945-75 .. IOS 5 0 0 15 Ot Q’land, 3, 1922-47 ... 98 0 0 0 5 (I* (j’land, 5, 1940-00 ... 107 0 0 0 12 fit S. Aust., 3. 1910 (out.) SS 10 0 1 5 0* S. Aust., 5. 1945-75 .. 108 6 3 1 1 3t IV. Aust., 4. 1942-62 . 101 10 0 0 3 fit Tasm., 34, 1920-40 ... 100 12 0 0 10 0* Tasm., 4, 1940-50 .... 101 15 0 1 0 Ot N.Z., 44. 1018-58 X104 5 0 o o fi» N.Z., 34. 1940 101 7 (1 6 3 fit N.Z., 1945 99 15 n n 7 f Higher. * Lower. x, ex dividend.

N. York, dol. to £ Par. 14.800 Feb. 3 Feb. 4. 4.895 4.893 Montreal, dol. to £ 4.800 4.89} 4.895 Paris, fr. to £ 124.21 105.125 105 7-64 Brussels, bel. to £ 48.611 29.00 29.025 Geneva, fr. to £ 25.225 21.415 29.40 Amst’dam, fl. to £ 12.107 8.94} 8.935 Berlin, inks, to £ 20.43 . 12.18 12.165 St'holm, knr. to £ 18.159 19.395 19.395 C'hagen, knr. to £ 18.150 22.40 22.40 Oslo, knr. to £ 18.159 19.90 19.90 Vienna, sehgs. to £ 34.585 26.50 20.50 Prague, knr, to £ 104.25 140 7-10 140.375 Hel’fors, inks, to £ 193.23 220.50 226.50 Madrid, pes. to £ 25.225 — Lisbon, esc. to £ iio"’ 11’03-16 1103-10 Milan, lire to £ 92 931-16 93 Athens, drac. to £ 375 ‘5t7J ‘5171 Bucharest lei to £ 813.00 1 >070 ‘670 Belgrade, din. to £ 276.31 213 213 Rio de J., p. to mil. 5.809 Hi 14} < B. Airos, p. to peso 47.02 M. Video, p, to peso 51 1'39} 139} ' Calcutta, p. to rup. IS IS 9-64 IS 9-64 Shanghai, p. to dol. —— 14 17-32 14 17-32 H.-Kong, p. to. dol. — 1415-161415-16 Y’hama, p. to yen 24.582 13 31-3213 31-32 Batavia, fl. to £ 12.107 8.895 8.895

New Zealand on Buying Selling. London T.T. 124 124/10/£N.Z. to £ stg. 100 O.D. 123/10/124/8/9 Australia T.T. — — _ £A to-£N.Z. 100 O.D. 101 100/10/Fiji T.T. — £F Io £N.Z, 100 O.D. 00/7/6 89 New York .... T.T. 3.95:1 3.92} Doi. to £N.Z. . O.D. 3.1)7 . 3.92lj Montreal T.T. 3.96 3.92} Doi. to £N.Z. . O.D. 3.1)71 3.93 Austria T.T. - 20.58 Seligs, to £N.Z. O.D. — 20.60 Belgium T.T. — 23.184 Bel. to £N.Z. .. O.D. — 23.195 Czechoslovakia .. T.T. — 111.88 Crs. to £N.Z. . O.D. - 111.93 Denmark T.T. 18.203 17.893 Kr. to £N.Z. . O.D. 18.263 17.903 France T.T. — 84.21 Frs. to £N.Z. . O.D. — 84.25 Germany T.T. — 9.700 Mks. to £N.Z. . O.D. — 9.705 Holland T.T. 7.283 7.133 FIs. to £N.Z. . O.D. 7.343 7.137 Italy T.T. — 74.54 Lire to £N.Z. O.D. — 74.59 J a va T.T. 7.249 7.089 FIs. to £N.Z. . O.D. 7.309 7.093 Norway T.T. 16.181 15.891 Kr. to £N.Z. . O.D. 16.241 15.901 Sweden T.T. 15.785 15.490 Kr. to £N.Z. .. O.D. 15.84515.500 Switzerland T.T. 17.371 17.100 Frs. to £N.Z. . O.D. 17.475 17.106 Noumea T.T. — 82.84 Frs. io £N.Z. . O.D. — 82.90 Papeete T.T. — S2.99 Frs. to £N.Z. . Hong-Kong .... O.D. — 83.05 T.T. 18 5-16 IS 13-16 N.Z. d. to Doi. O.D. 18 9-32 18 51-64 India and Ceylon T.T. 22 13-3'. 22 11-16 N.Z. d. to Rup. O.D. 22§ 22 43-64 Japan T.T. — 17.15-32 N.Z. d. to Ion O.D. — 17.29-64 Shanghai T.T. 17 57-6-1 18 25-64 N.Z. d. to Doi. O.D. 17 55-64 183 Singapore T.T. 34 47-64 35 7-32 N.Z. d. to Doi. O.D. 34 41-64 35 13-64 Cliefoo T.T. 17 29-32 18 17-32 N.Z. <1. to Doi. O.D. 17 55-64 IS 33-64

U.S.A. Doi. Canadian Doi. Selling (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.921 3.921 O.D. 3.92? 3.93 Buying O.D. 3.97? 3.97 J