THE MONEY MARKET

Dominion, Volume 32, Issue 94, 14 January 1939, Page 12

THE MONEY MARKET

Bank Of England Return

FIDUCIARY ISSUE RAISED

Note Circulation Lower

By Telegraph.—Press Assn.—Copyright. LONDON, January 12. The Hank of England return for the week ended January 11 is as follows: — Issue Department. Notes issued : Govt, debt 11,000,000 In circa- Other Govt. lation 475,600,000 securities 3SS,GOO.'JOO In banking Other sedept. 30,800,001.' curlties 100,000 Silver coin .‘lOO,OOO *£400,000,‘100 Gohl coin bullion 126,-100,000 £520.100,000 e;,26,400,000 •Amount of fiduciary issue. Banking Department. Capital . 14,500,000 (Avt. secuRest .... 3.500,000 rities ... 90,100,000 Deposits: Discts, advances .. 22,100,'100 Public . 19,200.000 Other SCCUBankers 118.100,000 rities .. 22,300,000 Other ace. 36,700,(XK) Notes and coin 51,500,0 HI £192,000,000 £192,000,000 Proportion o-f reserve to liabilities, 29.55 per eent., compared with 35.63 per cent, last week. The principal items of the above return compare as follows with those of last week Jan. 4. Jan. 11. Deposits: • £ £ Public 20.500.000 19.200,000 Bankers 136.000.000 118,100,000 Other accounts . 37,200,000 36,700,000 £193,700,000 £174,000,000 Securities: Government .... 71,400,000 96.100,000 Discts., advances 45.U00.01X) 22,100,00(1 Ollier securities . 22,400,000 22,300,000 Reserve 60.000,000 51,500.000 Note circulation . 488,100,(XX) 475,(500,000 Gold coin & bullion 326,400,000 126,400,000 Bank and Market Rates. LONDON, January 12. 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 quoted as follows: Day-to-day loans, ■J per cent.; fine.trade bill, three months, 2% to 3 per cent.; bank bills, three months, 9-16 per cent.: six months, -J per cent.; Treasury bills, two months, 4 per cent., three months, I per cent, cent.

NEW YORK, January 12. Call money is quoted unchanged at 1 per cent. .