RESERVE BANK

Dominion, Volume 31, Issue 241, 8 July 1938, Page 14

RESERVE BANK

Decrease Tn Dairy Advances

STERLING EXCHANGE LOWER The weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, July 4, is as follows;— LIABILITIES. £ s. d. 1. General reserve fund 4,500,000 0 0 2. Bank notes ...... 13,74i,350 10 0 3. Demand liabilities — (a) State 2,984.892 2 6 (b) Banks A I (c) Other 0<4,034 10 o 4. Time deposits .... 5. Liabilities in currencies other thtiTi N.Z. currency .... . 6. Other liabilities . . 100,414 14 10 £20,209,975 4 4 ASSETS. ' t s. d. T iaV e Go r id e 7 2,801,791 0 0 tb) Sterling eX( . liangB ‘ 1 5. W1>5C 8 16- 2 (c) Gold exchange . , 8. Subsidiary coin .. ..32,b0b o i 9. Discounts — (a) Commercial and agricultural bills - — (b) Treasury and local body bills .. — 10. Advances — (a) To the State or State undertakings— _ (1) Primary Products Marketing £> e pt 3,196,169 O b (2) For other purposes 600,000 0 0 tb) To other public authorities 11,i Investments .• • • 2,732,064 1.6 6 12. Bank buildings .. Q -. 13. Other assets .. ■■ 10a, <2o 8 1 £26,209,975 4 4

Proportion of reserve (No. i less No. 5) to notes and other demand liabilities. 76.181 per cent., compared with 7a.b24 per cent, on June 27. xcaypou There has been a decrease of tbb7,bw» in sterling exchange, which now amounts to £15.941.569. Gold remains unchanged at £2,801,791. Subsidiary coin totals £232,656, a decrease of £2715. Advancers to the State I nnuiry 1 roducts Marketing Department now stand nt £3 796,169, a decrease of £360,481. Advances to the State , for other purposes arc unchanged at £600,000. Investments show no change at £2,732,065. Other assets total £100.<20, an’ increase of £36,179. The note issue totals £13,74i.000, a decrease of £27,339. Demand liabilities to the State show a large decrease of £1,663.317 and now total £2,984.892. The trading banks reserve balances at £7,497,248 have increased bv £634,407. Other demand liabilities amount to £374,034, an increase of £59,884. Other liabilit es at £106,415 show an increase of £IIIJ. The statement balances at £2G,-09,97u, a decrease of £994,645. BASE METALS MARKET Copper And Tin Easier By Telegraph—Press Assn. —Copyright. ’London, July 6. The official London (middle) quotations as reported by the Australian Mines and Metals Association, compare with those previously cabled uu follows:— 1 July 5. July 6.

CopperStandard, spot • • • Ditto, forward ... Electrolytic to Per ton. £ s. d. JO 3 14 ■10 8 14 44 5 0 45 5 0 45 5 0 Per ton £ B. <1. 39 11! 10} 40 3 1* 44 5 0 45 5 0 45 5 0: Lead— 15 5 7} 15 0 10J 15 0 41 15 0 4J Spelter— 14 0 41 14 8 0 14 14 4 A 14 14 41 Tin— 104 5 0 193 10 0 195 7 6 194 12 6 SilverStandard per oz. - Standard, per oz. • 19Jd. lOJd. 19 3-10d. 10 3-10d.