THE MONEY MARKET

Dominion, Volume 33, Issue 87, 6 January 1940, Page 14

THE MONEY MARKET

Bank Of England Return NOTE CIRCULATION LOWER By Telegraph.—Press Assn.—Copyright. LONDON, January 4. The Bank of England return for the week ended January 3 is as follows: —

FOREIGN EXCHANGES Position Of Sterling By Telegraph.—Press Assn.—Copyright. LONDON, January 4. The following mean closing rates on foreign exchangee were current today:—

BRADFORD TOPS PRICES Increase Announced By Telegraph.—Press Assn.—Copyright, LONDON, January 4. New issues of prices for wool tops are operating as from January 3. They are about 35 per cent, above the current issue prices. The announcement has cleared the air in so far as further business is concerned, but it 'has caused spinners to withdraw from the market for the present. Yarn prices are quoted as nominal.

Issue Department. £ £ Notes issued: Govt, debt 11,000,000 In circu- Other Govt. lation 547,400,000 securities 505,300,000 In banking Other sedept. 32,800,000 curities 3,000,000 Silver coin 700,000 •£ OSO,000,000 Gold coin & bullion 200,000 £580,200,000 £ 580,200,000 ’Amount of fiduciary issue. Banking Department. £ £ Capital 14,500,000 Govt, seKest 3,400,000 purities 153,100,000 Deposits: Discts., Public 17,200,000 advances 4,500,000 Bankers 128,000,000 Other se-. Other a/cs 52,700,000 purities 25,100,000 Notes and coin 33,700,000 £210,400,000 £ 210,400,000 Proportion of reserve to liabilities, 10.97 per cent., compared with 14.03 per cent, last week. The principal items of the above return compare as follows with those of last week: — Dec. 27. Jan. 3. Deposits: £ £ Public ' 29,700,000 17,200,000 Bankers 117,300,000' 128,000,000 Other accounts .. 42,000,000 52,700,000 £189,000,000 £198,500,000 Securities: Government 151,400,000 153,100,000 Discts., advances 4,300,000 4,500,00 ther securities .. 24,000,000 25,100,000 Reserve 26,000,000 33,700,000 Note circulation .. 554,600,000 547,400,000 Gold coin & bullion 200,000 200,000 LONDON, January 4. The Bank of England rate of discount is unchanged at 2 per cent. Discount and short loan rates on the London market compare with those of December 28 as follows:— Dec. 28 .Jan. 4. p.c. p.c. Day to day loans ... i i i Fine trade bills (3 mos.) 2} to 3 . 24 to 3 Bank bills (3 mos.) . li 1 3-16 Bank bills (6 mos.) . .14 1J Treasury bills (2 mos.) 1 3-16 l j Treasury bills (3 mos.) 13-16 Ij NEW YORK, January 4. Call money is unchanged at 1 per cent.

. Par. January 4. N. York, dol. to £ 4.866 4.03 Montreal, dot. to £ 4.866 4.45 Paris, francs to £ 124.21 176} Brussels, bel. to £ 48.611 23.875 Geneva, f r s . to £ 25.225 17.875 Amsterdam, fl. to £ 12.107 7.53 Berlin, marks to £ 23.43 — C’hagen, k n r. to £ 18.159 20.37 St’holm, k n r. to £ 23.43 10.90 Oslo, kroner to £ 18.129 17.70 Hels’ki, m k s. to £ 193.23 — Madrid, p e s . to £ 25.225 — Lisbon, esc. to £ 100 110.25 Milan, lire to £ 92 77.75 Athens, drae. to £ 375 540 Bucharest, lei to £ 833.60 — Belgrade, din. to £ 276.31 —— Rio de J., p. to mil 4.99 — B. Aires, p. to pesa 47.62 — M'Video, p. to peso 51 —- Calcutta, p. to rup. 18 18 11. Kong, p. to dol. — 14 31-32 Yokohama, p. to yen 24.582 14 11-32 Shanghai, p. to dol. — 4 11-16 Batavia, florins to £ 12.107 7.44/7.54 LONDON January 4. Gold.—£8/8/- an ounce, tine. Silver.—Spot, 215-lCd. an ward, 23d. ounce; for-