THE MONEY MARKET

Dominion, Volume 31, Issue 6, 2 October 1937, Page 14

THE MONEY MARKET

Bank Of England Return

NOTE CIRCULATION HIGHER London, September 30. The Bank of England return for the week ended September 29 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 2$ per cent, on June 30, 1932. Discount and short-loan interest rates are unchanged as follows: —Day-to-day loans, | per cent.; line trade bills, three months, 2 to 2$ per cent.; bank bills, three months, 9-16 per cent.; Treasury bills, six months, 5-8 per cent.; Treasury bills, three months, 9-16 per cent.; Treasury bills, two months. % per cent. New York, September 29. Call money is quoted unchanged at 1 per cent. FOREIGN EXCHANGES Position Of Sterling London, September 30. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on September 29:—

London, September 30. Gold.— £7/0/7$ an ounce, tine. Silver.—Spot. 19 13-16 d. an ounce; forward, 19 11-16 H.

On New Zealand Currency Basis

The Bank of Now South Wales, Wellington, quoted the folowing rates for their purchases and sales of foreign exchange yesterday

The Associated Banka (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice. U.S.A. Doi. Canadian Doi. Selling: (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.9(14 3.90} O.D. 3.07 5-16 3.07 5-16 Buying: O.D. 4.014 4.01 9-16

GOVERNMENT STOCKS London Markets Firmer By Telegraph.—Press Assn.—Copyright. London, September 30. The following table gives Stock Exchange quotations for consols and colonial in scribed stocks compared with those of

S'otes issued: In circulation 488,500,000 In bunking dept. 37,900.000 Govt, debt 11,00,0000 Other Govt. securities 188,700,000 Other securities 300,000 *£200,000,000 Gold coin A: bullion 326,400,090 £520,400,000 £ 526,400,000 “Amount of fiduciary issue. Banking Department. £ Capital U .500,000 Rest 3,700.000 Deposits: Public 21,800,000 Bankers 95,100,000 Other a/es 37.200,000 Govt, securities 105,800,000 Discts., advances 6,200,000 Other securities 20,700,000 Notes and coin 39,600,000 £172,300,009 £172,300,000 Proportion of reserve to liabilities, 25.69 per cent., compared with 26.70 per cent. principal items of the above return compare as follows with those of last week • Sep £ 29. D publlc“ : 15,700,000 21,800,000 Bankers A.'... 105,600,000 95,100,000 Other accounts ... 36,200,000 37,200,000 £157,500,000 £154,100,000 Securities: Government 106,900,000 105, SOO,OCX) Discts., advances . 5,200,000 6,200,000 Other securities . 21,600,000 20,700,000 Reserve 42,000,000 39,600,000 Notes In circulation 486,000,000 483,500,090 Gold coin & bullion 326.400,000 326.400.000

Par. Sept. 20. Sept. 30. N. York. dol. to 4.866 4.94 11-16 4.951 Montreal, dol. to £ 4.866 4.94} 4.95} Paris, fr. to 4? 124.21 144 19-02 144 37-61 Brussels, bel. to £ 48.611 20.375 29.40} Geneva, fr. to i • 25.225 21.54 21.55} Arnst’dam, fl. to £ 12.107 8.95 8.95} Berlin, inks, to £ 24.43 12.325 12.33} 19.395 St’holm, knr. to £ 18.159 19.395 C’hagen, knr. to Oslo, knr. to £ 18.159 22.40 22.40 18.159 19.90 19.90 Vienna, schgs. to 1 ■ 34.585 26.50 26.50 Prague, knr. to £ 134.25 141.375 141.375 nel’fors, inks, to .L 193.23 220.25 220.25 Madrid, pes. to O”. - Lisbon, esc. to > ■ iw" 110 3-16 110 3-16 Milan, lire to £ 92 Pt 94.125 Athens, drac. to £ 375 *5475 •547} Bucharest, lei to £ 813.60 *672.50 •672.50 Belgrade, din. to £ 276.31 216 216 Rio do ,T„ p. fo mil. 4.899 |4i fl} B. Aires, p. to pesa 47.62 — M. Video, p. to peso 51 3913-16 39 13-16 Calcutta, p. to rup. 18 IS} 18} Shanghai, p. to dol. 18 14ft 1-1} H.-Kong, p. to dol. — 15 15 Y'Jiama, p. to yen 24.582 14 1-1 Batavia, fl. to 1 12.107 8.935 8.93 • Unofficial t Official.

New Zealand Buying. Selling. on London . T.T. 124 124/10/£N.Z. to £stg. 100 O.D. 123/10/124/8/9 Australia £A to £N.Z. 100 T.T. O.D. 101 100/10/Fiji £F to £N.Z. 100 T.T. O.D. 90/7/0 89 New York T.T. 4.0024 3.9079 Doi. to £N.Z. . O.D. 4.0124 3.9719 Montreal T.T. 4.0014 3.90S9 Doi. to £N.Z. . O.D. 4.0134 3.9729 Austria T.T. —— 20.78 Seligs, to £N.Z. O.D. — 20.79 Belgium T.T. 23.820 23.510 Bel. to £N.Z. . O.D. 23.901 23.527 Czechoslovakia ... T.T. — 112.76 Crs. to £N.Z. . O.D. 112.81 Denmark T.T. 18.203 17.893 Knr. to £N.Z. . O.D. T.T. 18.263 17.899 115.12 France — Frs. to £N.Z. . O.D. .— 115.16 Germany T.T. —- 9.840 Mks. to £N.Z. . O.D. — 9.845 Holland T.T. 7.290 7.146 FIs. to £N.Z. . O.D. 7.336 , 7.150 Italj’ T.T. — 75.41 Lire to £N.Z. . O.D. —- 75.46 Java T.T. 7.271 7.121 FIs. to £NZ. .. O.D. 7.311 7.125 Norway T.T. 16.181 15.891 Knr. to £N.Z. . O.D. 10.241 15.897 Sweden T.T. 15.785 15.490 Knr. to .£ N.Z. . O.D. 15.845 15.496 Switzerland T.T. 17.496 17.226 Frs. to £N.Z. . O.D. 17.001 17.231 Noumea T.T. — 113.87 Fra. to £N.Z. . O.D. — 113.91 Papeete T.T. -— 113.92 Fra. to £ N.Z. , O.D. 113.96 Hong-Kong .... T.T. 18 7-10 1813-16 N.Z. d. to Doi. . O.D. 1813-32 18 13-16 India and Ceylon . T.T. 22? 22 21-32 N.Z. d. to Hup. O.D. 22 11-32 22 21-32 Japan T.T. — 174 N.Z. d. to Yen . O.D. —— 17J Shanghai T.T. 18 15-32 N.Z. d. to Doi. . O.D. 18 15-32 Singapore T.T. 34 23-32 3513-64 N.Z. d. to Doi. . O.D. 346 35 13-64 Chefoo T.T. — 18 45-64 N.Z. d. to Doi. . O.D. 18 11-16 Manila T.T. 2911-10 30 3-16 N.Z. d. to Peso . O.D. 29 19-32 30 3-16

September 23: — Price. £ 0. d. Variation X*. 8. d Consols, -i p.c. ... 73 7 6 0 7 fi* Fund. Loan, 4 p.c. .. X109 15 0 1 5 0« War Loan, 34 p.c, .. 100 15 0 0 tit Conv. Loan, 3J p.c. .. DO 10 0 same Victory Bonds, 4 p.c. . 108 15 0 0 15 Of C’wealth, 5, 1945-75 . 107 15 0 name C’wealth, 4, 1943-4S . 102 7 0 0 Lt fit C’wealth. 3J, 1918-53 . 100 11 3 0 3 9f C’wealth. 31 1955-61 . 91 11 3 0 o fit C’wealth, 3, 1955-58 . 88 15 0 0 3 Pt N.S.W.. 4J. 1935-45 .. 98 7 6 0 7 of Victoria, 3, 1929-49 .. 94 5 0 0 2 of Victoria, 44. 1940-60 .. 103 5 0 same Victoria, if, 1945-75 . 107 15 0 0 5 ot Q’land, 3. 1922-47 .. 94 18 9 0 3 Q’land, 5, 1940-60 ... 104 0 0 0 b of S.Aiiat., 3, 1916 (opt.) 77 12 6 0 5 of S. Auet.. 5. 1945-75 .. 107 10 0 0 5 of W.Auat.. 4. 1942-62 .. 101 12 6 0 6 3t Team., 31 1920-40 .. 101 17 6 0 6’ Tasm.. 4, 1940-50 .. 101 15 0 same N.Z.. 4t, 1948-58 .... 104 12 6 0 N.Z.. 31 1940 102 2 6 0 5 07 V.Z.. 3. 1945 97 « 8 0 8 2>f tHighe®. ’Lower.