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Dominion, Volume 35, Issue 7, 3 October 1941, Page 3

RESERVE BANK. Decrease In Sterling Exchange The sterling exchange funds of the Reserve Bank ol New Zealand last Monday totalled £14,747,969, a decrease for the week of £1,243,753. The bank’s net overseas assets at £14,734,339 have decreased by £1,240,132. The note issue totalled £22,231,460, a decrease of £106,387. Advances to tlie Sthte Marketing Department at £6,538,715 have decreased by £148,669. while advances.to the State for oilier purposes are unchanged at £12,500,000. . The statement of assets and, liabilities as at the close of business on Monday, September 29, is as follows: —

♦Expressed in N.Z. currency. • Proportion of revenue (No. 7 less. No. 5) to notes and other demand liabilities 44.347 per eent., compared with 45.631 per cent, on September 22. The revenue last Monday amounted to £17,536,213, compared with £18,776,345 on September 22, a decrease of £1,240, 132, A year ago the reserve was £12.767,249. Sterling exchange last Monday totalled £14,747,969, compared with £15,991,722 on September 22, a decrease of £1,243,753. Liabilities in currencies other than New Zealand currency were £13,630 (a decrease of £3621), thus making the bank’s net overseasj)s_sets £14,734,339, compared with £15,974,471 -on September 22, u decrease of £1,240,132 A year ago the bank’s net overseas assets amounted to £9,965,397. and on October 1, 1939. they totalled £5,322,580. The bank’s gold holding remains unchanged at £2,801,8(4. Subsidiary coin is shown at £46,298, an increase of £1353. „ , . Advances to the State Marketing Department total £6,538,715, a decrease for the week of £148.669. A year ago those advances amounted to £2,975,021. Advances to the State for purposes other than marketing are unchanged at £12,500,000. A year ago they totalled £25,040,000. Investments at £3,822,859 are unchanged. Other assets amount to £l,589.236. a decrease of .£241,143. The note issue last Monday totalled £‘’2 231,460, a decrease for the week of £106,387. A year ago the note issue amounted to £20,108,913. Demand liabilities to the State amount to £7,194,191, a decrease of £u28,;i24. The trading banks’ reserve balances tolal £9.254,424, a decrease of £1,065,278. Other demand liabilities amount to £863.269, an increase of £100,423. 1 Other liabilities total £989,977. a decrease of £228,825. The statement balances £42,04b,950, a decrease of £1,832,213. Gold Mining Returns Wellington Alluvials Limited reports that during the four weeks ended September 13 the dredge worked 574 hours handling 193,000 yards of material and recovered bullion estimated to contain 989 ounces of fine gold. (By Telegraph—Press Association.) GREYMOUTH, October 2. The following returns are for the month of September:— Barrytown, 504 ounces for 499 hours from 215,000 yards. ’ Ranieri, 856 ounces for 32< hours from 166,000 yards. Arahura, 1808 ounces for 000 hojirs from 277,000 yards. . Bulolo Gold Dredging. Limited, reports that for tlie month of August the total gross production amounted to lS.2au ounces of bullion containing 12,594 ounces of fine gold from 1,634,000 cubic yards. Estimated working profit 7128 ounces tine gold. Dow Jones Averages (By Telegraph.—Press Assn. —Copyright.) 'NEW YORK, October 1. Dow Jones average (1926 equals 1UO) and turnover on the New York Stock Exchange compare as follows:—

Wellington Poultry Market Prices of live poultry in the Welling.loll market are quoted by Townsend and Paul, Ltd., as follows:— Fowls —White Leghorns: Hens, 2/6 to 4/- each; cockerels, 1/- to 1/3 a lb.; pullets, best, 6/1 to 10/- each; others, 4/- to (>/-. Black Orpingtons: Hens, heavy, 6/- to 9/- each; medium, 4/- to 6/-; cockerels, heavy, 1/- to 1/3 a lb.; medium. 1/- to 1/3. Rhode Island Reds: Cockerels, heavy, 1/- to 1/3 a lb. Ducks' —Indian Runner: Young, o/- to 7/6 each; old. 3/- to 5/-; white, young, 6/- to 10/- each : Heavy, 6/- to 10/-. Geese. 5/- io 8/- each. Turkeys, 1/2 to 1/6 a lb. Wellington Vegetable Prices Prices of vegetables in the Wellington markets on Thursday are quoted by Market Gardeners, Ltd., as follows: — Rhubarb, 4/- to 13/-; radish, 3/- to '6/-; carrots, 3/- to 6/-; beetroot, 6/- to 10/-; Celery. 6/- to 18/-; parsnips, 6/-; asparagus, 10/- to 12/- a dozen bunches; eucznibers, 6/- to 10/- a dozen ; spring onions. 2/- to 3/6 a bunch. Cauliflower, 10/- to 20/6; cabbage. 9/- to 11/-; swedes. 6/6 to 8/-; pumpkins, IS/9 to 47/-, all a sack; potatoes. £l4 to £l6 a ton; onions, 20/- to 25/- a cental. „ , , Cauliflower. 4/- to 7/-: cabbage 3/- to 11/-; parsnips, 5/6 to .10/-; swedes, 4/to 5/-; carrots. "/- to !>/-: silver beet. 5/- to 9/3; beetroot. 10/- to 14/-: rhubarb. (>/-; turnips, 2/6: lettuce. 3/- to 10/-: spinach. '.)/- to 19/-: leeks, 12/to 23/-: sprouts. 20/- to 30/-; celery, 8/- to 12/-, all a ease.

LIABILITIES. s. d. £ ’ 1. General reserve fund 1,500,000 0 0 \2. Bank notes 22,231,460 0 0 3. Demand liabilities— (a) State 7,104,190 IS 2 (b) Banks 9,254,423 lo 11 (c) Other 863,268 12 11 4. Time deposits .... 5.'Liabilities in ,currencies other than N.Z. currency .. 13,629 19 1 6. Other liabilities .. 980,976 19 5 £(N.Z.)42, Q40,950 5 6 ASSETS. £ 6. d. ' 7 Deserve — (a) Gold 2,801,874 10 0 *(b) Stirling Exchange 14,747,968 15 9 (c) Gold Exchange —— 19 — 8 Subsidiary Coin . . 46,207 8 9 Discounts — (a) Commercial & Agricultural Bills — —— — (b) Treasury & Local Body Bills —— —— —— 10 Advances — (a) To the State or State Undertakings— (1) Marketing Dept. 6,538,714 12 9 (2) For Other 12,500,000 Purposes 0 0 (b) To other Dublie Authorities — — — ' (c) Other 3,822,858 — 11 Investments 14 1 12 Bank Buildings .. — — — 13 Other Assets — .. 1,5S9,235 13 3 £(N.Z.)42,04G,950 5 6

20 Rail roads. 30 Industris Share* Is. sold. Jan. 6 28.40 132.83 720,000 3 27.32 120 88 330.000 Apr. May 2 28.97 123.47 450,009 28.51 115.72 400,000 June 27.50 110.18 260,000 J uJv 2 28.45 123.58 390.000 Aug, 1 30.88 . 128.22 680,000 Sept. 30.17 128.31 520.000 Sept. 29.01 127.04 420,000 Sept. Sept. 23 • • • • 29.13 29.10 128.03 127.54 490,000 550.000 Sept. 26 28.00 125.81 490,009 Sept. 28.97 120.03 190,099 Sept. 29 28.63 126.05 400.1X10 Sept. 30 28.90 126.82 460.000 Oct. 1 2S.83 126.85 370,000