FINANCE & COMMERCE RESERVE BANK

Dominion, Volume 35, Issue 171, 16 April 1942, Page 3

FINANCE & COMMERCE

RESERVE BANK

Increase In Sterling Funds The sterling exchange funds of the Reserve Bank of New Zealand on April 6 totalled ,£19,702,883, an increase for the week of £1,338,GD1. The note issue at £21.189,298, shows an increase on the previous week of £57,081). The Dtitcinenl as at the close of business on .Monday, April G. Is as follows: —

Proportion of reserve to notes and other demand liabilities 42.291 per cent., compared with 38.949 per cent, on March 30. The reserve on April 6 amounted Io £22.485,862, compared with £21,124,994 on .March 30, an increase of £1,360,868. A year ago the reserve totalled £22,343,015. Sterling exchange on April G amounted to £19,702,883, compared with £18,344,282 on Marell 30, an increase of £1,3'38.601. Liabilities in currencies other tJuin New Zealand currency were £18,898 (a decrease of £2267), thus making the bank's net overseas assets £19,683,965, an increase for ttie week of £1,360,868. A year ago these assets totalled £19,543.142. The bank's gold holding remains unchanged at £2.801,877. Subsidiary coin is shown at £63,263, a decrease of £ ISG2. Advances to the State Marketing Department total £7,687,636, an increase of £86,098. A year ago these advances were £2,979,435. Advances to the State for other purposes amount to £22,000,000, a decrease of £1,040,000. A year ago they totalled £15,500,000. Investments to £4.146,228 have decreased by £6776. Other assets amount to £895,336, a decrease of £103,963. The note issue on April 6 totalled £24,189,298, an Increase for the week of £57,OSO. A year ago it stood at £21.721.119. Demand liabilities to the Slate amount to £11,405.010, a further decrease of £2,052.357. The trading banks' reserve balances total £17,380,923, an increase of £944,105. Other demand liabilities at £194,180, have decreased by £17,459, Other liabilities total £2,008,916. an increase of £1,359,999. The statement balances at £57.297,225, an increase of £289,100.

Stock Exchange Sales

Dealings in stocks and shares recorded on New Zealand stock exchanges yesterday were as follows, the number of shares in'each Jot being shown in the ease of

AUCKLAND. laser. Stock, 4 per cent., 1943-46, £lOO 12/6; ditto, 4 per cent., 1946-49, £lO2/15/-; ditto, 4 per cent., 1954-58 (2), £lO7/15/-; Bank of New Zealand (3), £l/17/6. CHKISTCHURCII. Inscr. Stock, 3J per cent., 1056-59, £lOl 10/-; ditto, 4 per cent., 1946-40, £lO2/15/-. DUNEDIN. Dunedin City, 4J per cent., 1955, £lOB 15/-; Bank of N.Z., £l/17/6; Waltaki Farmers, £4/15/-; N.Z. Breweries, £1 .11/9; Broken Hill South, £l/0/6; Charles Begg, £l/1/-; Otago Daily Times, £1 19/-; IVoolworths (Syd.), 13/-. London Stock Exchange (By Telegraph.—Press Assn.—Copyright.) LONDON, April 14. On the Stock Exchange today prices for corporation debentures and stocks compared with previous quotations as fol-

Gold Mining The (Jkarito dredge returned 'Juz. for S 3 hours. Blackwater mines crushing for Marell was 3SS3 tons, yielding lalWoz., valued at £ 13,35 b. Working expenses, excluding ordiny and war duty on gold, £8304; development, £1123; capital expenditure, £333. Mosgiel Woollen Dividend 'file Mosgiel Woollen Factory Co., Ltd., advises that the directors have approved tlie payment of an interim dividend of 4 per cent, on the paid-up capital for tlie half-year ended April 0. 1042, payable on May 14. The transfer books will be closed from May .1 to Mav 14. both days inclusive. Season’s Meat Killings The official figures of killings for the present season at the Dominion’s freezing works from October 1 till March 28, as its sued -by the New Zealand Meat Producers’ Board, show that lamb killings to that date total 8,363,257 carcases, a decrease of 159,729 carcases compared with the killings to March 29 laat season. Wether mutton killings are 613.308 carcases, and ewe mutton killings 1,513,91-5 carcases, compared with 490,772 and 1,279,521 carcases respectively last season. Details of the lamb and mutton killings in the North and the South Islands, with figures for the previous season in parentheses are as follows, North Island figures being given first: —Lamb (carcases), 4,803,557 (4,779.359), 3,559,700 (3,743,627); wether mutton (carcases), 562,181 (441,487), 51,127 (49.285): ewe mutton (earcases), 967.387 1868,259), 546,528 (411,262). Frozen beet* production is 205,758 quarters, compared with 279.859 quarters last season, a decrease of 74,101 quarters. Porker killings total 117,887 carcases an increase of 35,671, while haveners total 197,Ss9 carcases, a decrease of 67.147. Stock And Share Indices (By Telegraph.— Pres*, — Cup.v right.) LONDON, April 11. “Financial 'rimes’’ stock and share in* dices with previous quotations are (Octo*

Dow Jones Averages ( P.v Telegraph. — Pros*. Assn — U<»|..vrlght.i NEW YORK, April 11. bow Jones averages (IO2G equals I<M>> mid turnover on tlie New York Stock Exchange conipure ns follows:--

LIABILITIES. e. d General reserve fund 1,500,000 0 (I Bank notes 24,189,298 10 0 Demand liabilities— (a) .Slate 11. I0.-U.1II 3 3 (bl Banks 17,3S0.922 18 O (el Other 1IM 47U 17 3 Liabilities other titan in N.Z. currency 18.897 12 I Other liabilities 2,GOS,!)15 14 u £ (N.Z. 157,21)7.221 14 7 ASSETS. Reserve— (a) Gold 2.801,877 11) ,702,883 10 II (b) Sterling exchange .. Subsidiary coin 8 IS 1 0 (13.202 Advances'(a) To the State (It .Marketing Dept. 7,687,636 8 (j i2) h'or other purposes 22,000, 060 0 () 4,140.228 895 336 . 1 4 Other assets 4 8 £ (N.Z.)57,21)7.224 14 7

Wellington WELLINGTON. No. of Sale price shares. £ cl. £340 War Loan. .1/10/03 SO 0 0 £1300 Incsr. 'Stock, 3} p.e., JU57G9 (•?) 101 0 0 10 Bank of N.S.W 26 . > 0 26 Union Bank 6 0 0

lows Mar. 31. Apr. It. S • <1. £ s. d. Dalgety and Co., 4 p.c. 72 10 0 71 10 0 Dalgety and Co., shares 2 15 0 •> r? 6 British 't'obacco 1 0 0 1 0 0 Goldsbrough Mort .... 0 12 0 0 12 6 1’. and 0. def. 1 7 4i 1 7 10}

her 1 5. 192(5. equals 1000):— 1 Ll (1 U trials • Gold miuets. Guv I. 8<‘c'S. llu'lie \ (»V 1 .... 114.1 r 50.‘« 99.7 172..) Dec 2 .... 113.8 ■ * .» 105.2 181.(5 Ju u 2 .... 113.8 .(i 102.'; 173.1 4 .... 113.(1 101.b KiG.i Ma r 2 .... 113.1 11 ] !IS ,i 158.9 A pr. 1 .... 113.5 ; j(j,2 9(i9 153.0 •\ j • r S . 113.3 • i-» !» Mi ” 152.4 Apr. 9 .... 113.(1 3(i.o 97.1 152 i Apr. 13 .... 113.0 ♦w.9 Ji .<» 151.1

20 Rail- 32 Sha res roads. I odust rials. sold. \ (> v 1 • ’S i ? S 11 vio.oijo i ;21187 i *3’59 810.000 Jan. .... 27.1.3 . i * > i.i 720.00'» !•’( 1). ”X 30 •.08’99 •370.000 \lu r • > . os 1 o. > 7 • i 330.000 Apr. 25* 17 100.89 372.000 Apr. (, .... 25.50 102.80 .335.01 M) .... 25. -13 101.2.3 295.000 X pr. ‘.I .... 25.011 99.011 351.000 Apr 13 .... 25.011 99. 1 1 238,000