THE MONEY MARKET

Dominion, Volume 34, Issue 80, 28 December 1940, Page 5

THE MONEY MARKET

Bank Of England Return (By Telegraph—Press Assn.—Copyright.) LONDON, December 26. The Bank o£ England, return for the week ended December 25 is as follows: — Issue Department.

NEW YORK, December 25. Call money is unchanged at 1 per lent. FOREIGN EXCHANGES Position Of Sterling (By Telegraph.—Press AsSU.—Copyright.) LONDON, December 26. The following mean closing rates on foreign exchanges were current today:—

‘Dealings suspended. LONDON, December 26. Gutd.—£B/8/- an ounce, fine. Silver.—Standard, 231 d. an ounce: line, 23 1-ldd.

Bulolo Gold Dredging Co., Ltd. Bulolo Gold Dredging, Limited, report that for the month of November the total gross production amounted to 19,2560 z. of bullion containing 13,3080 z. of tine gold, 'from 1.677,000 cubic yards. Estimated working profit, 65350 z. line gold. During the period several dredges were operating in ground carrying low values. Gold Mining Returns The Argo dredge, for the period ending December 24, returned 670 z. for 171 hours from 18,000 yards. Big River Report Big Diver Gold Mines, Limited, give the following gold returns for period commencing November 22: —Battery department. 126 tons of ore crushed for 1620 z. 17dwt. melted gold; cyanide department, 200 tons sands treated for 30oz. 12dwt. of bullion. Total estimated value. £1455. In addition, 1 ton lOcwt. concentrates were saved, valued at £5O. Note: In estimating the above valuer, gold has been taken at £8 per ounce.

Notes issued: Govt, debt 11,000,000 In circu- Other Govt. Jation 016,900,000 securities 015,400,000 In bank- Other 60Ing dept. 13,300,000 purities Silver coin 3,600,000 ’£630.000,000 Gold coin & bullion 200,000 £630.200.000 £ 630,200,000 ‘Amount of fiduciary issue. Banking Department. c "’apital . 14,500,000 Govt, secuCM Kest .... ■ 3,300,000 Titles 178,500,000 Deposits: Dtects., ad[’u bile .. 12,500,000 ranees ■1,000,000 Bankers 135,700,000 Other seother aes. 51,200,000 curities 20,500,000 Notes and coin 14,200,000 £217,200,000 £ 217,200,000 L’ronortion of reserve to liabilities, 7.14 per cent., compared with 9.30 per cent. last week. The principal items of the above return compare as follows with those of last week Dec. 18. Dec. 25. Deposits: £ r Public 12,000,000 12,500,000 Bankers 129,300,000 135,700,000 Ollier accounts . 52,700,000 51,200,000 £101,000,000 £109,400,000 Securities: Government 169,100,000 178,500,000 bisets.. advances 3,800,000 1,000,000 Other securities . 20,800,000 20.500,000 Reserve 18,100,000 14,200,000 Note circulation .. 613.100,000 616.900.000 Gold coin & bullion 200,000 200,000 LONDON, December 25. 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 18, as follows:— Dec. 18. Dec. 25. p.c. p.c. Dav to day loans 3 i Fine trade bills (3 mos.) 24 to 3 24 to 3 Bauk bills (3 mos.) . 11-16 11-16 Bank bills (6 mos.) . 11 U Treasury bills (2 mos.) 1 1 Treasury bills (3 mos.) 1 1

Par. Dee. 26. New York, dollar to £ .4.8GG 4.03 Montreal, dollar .. to £ 4.806 4.45 Paris, francs .... to £ 124.21 • Geneva, francs .... to £ 25.225 17.35 Sl’iiuJiu, kroner ... to £ 23.43 16.90 Lisbon, es to £ 100 110.25 .Milan, lire to £ 92 — Alliens, drac to £ 375 346 Rio de J., d. to mil. 4.49 —■ Buenos Aires, d. to pesa 47.62 17.965 Monte Video, d. to peso 51 —* Calcutta, d. to rupee IS 18 •Shanghai, d. to dollar . — 3 3-16 Hong Kong, d. to dollar — 15 Kobe, d. to yen . 24.582 1-1 21-32