FINANCE & COMMERCE

Dominion, Volume 36, Issue 94, 15 January 1943, Page 3

FINANCE & COMMERCE

TRADING BANKS Advances Up; Deposits Down A decrease in deposits, a rise tn advances and a decrease in net overseas funds are Hie main features of the latest returns ot tlie trading banks. The monthly suniniary of assets anu liabilities ns at, Monday, November JU, published In aeeordanee with the provisions of the Reserve Hank Act, show the following figures in respect of the six banks:— LIABILITIES.

Overseas Funds Decrease. London funds on November 30 totalled £ll 370 388, a decrease of £3b3,3U-. Overseas funds held elsewhere than iu London were £2.924,099, a decrease of ±.193,ub8, total overseas funds being £14,294,48t, a decrease of £557,270. Against these tunds were demand and time liabilities amounting to £698,508, thus making the banks net overseas assets £13,595,987, compared with £14,143,173 on October 26, a decrease of £5-17,186. Decrease In Deposits. Demand liabilities on November 30 were £65,586,876, a decrease of £430,a-S. Dme liabilities were £28,798,5C1, a decrease of £33‘ M .)4 The total of demand and time liabilities was £94,385,720, a decrease <A £463 822. The total of demand and time liabilities elsewhere than in New Zeaiaud was £61)8.500, a decrease of *-10,084. The banks’ excess of assets over liabilities was £20,610,314 a deerease of £1,029,597. Reserve balances of the six banks totalled £18,720,657, a decrease of securities held by the hank B totalled £30.301,122, an increase of £46,JbO. Other sreurities, nt £972,744 show an increase of £31,470. Rise In Advances. Aggregate advances on d er . were £44.463,861. a rise ot £998.860. Ag gregale discounts at £110,8(w were ca.,J4 higher. The total of advances and discounts o was £44,574,726, au Increase ot excess of demand and time liabilities over advances and ..d l^* £49,810,994, compared with tol.-iJ.uH) ou °The C raHo of advances and discounts to total deposits on November 30 was’l[.--b per cent., compared with 40.936 per cc. t. on October 26. 44.838 per cent, on -keptemher 28 45.573 per cent, on August 31, 47—b per cent, on July 27, and 50.099 per cent. OII The unexercised overdraft authorities on November 30 «">°! , " ted , r { | " 0,34 199.352, a decrease ot £64,476. .1 uc tTitai of advances and discounts and exercised overdraft - authorities "as £78.774,078, an increase of £9JJ,<iB. The active note circulation Ol * kovetnbcj 30 was £24,162,073, an increase of £607,0Ju.

RESERVE BANK Increased Advances To State The aterling exchange funds of the Reserve Batik totalled £25,670.6’59 on Januarv 4. a decrease fur tb e week of LSJi.M h The note issue has receded by £l4u,a»J £3O 674 298 from the previous weeks re-c-ord high level of £30,819,847. Advances to the State for other purposes than the Marketing Department ,u '''®,. l1 'V. r A y £•’700.000 and now stand at £«>o,ooo,vuu. The statement as at Monday, January 4, - £ s. d-

Proportion of reserve to notes and oilier demand liabilities was 45.470 per cent., compared witli 48.280 per cent, on DecenibtTli"e 'reserve on January 4 amounted to £28,477.1136. compared will) £-163,11.811 on Doccnibcr 28. R doorcase of £B(3,Ci«). * rear ago the reserve was £ 10,536,9111. ' Slerlim- exchange on January 4 anmiintod lo £25.676.059, compared with '.1'.r.l on December 2S. a decrease ol £BJ7.!H(l Liabilities in currencies other tian New Zealand currency were £B<,M.4 (an increase of £63.499), Ums inaking tlie bank's net overseas assets £-.>.i>Bb.i.M. a decrease for tlie week of £96lclffi). A year ago these assets totalled £13,i30.08i. Advances to tlie Stale Marketing Department total £578,303,' a decrease of <■944 918 A vein- ago they totalled £7,210.489. 'Advances lo the h ll n r ( ; poses liave increased by £-.<00,060, anu now stand al £30,009,000.. coin pared with c°2,506.001) a rear ago. The note issue on .Ja'nuarv 4 totalled £30.674,298. a decrease for the week of _£ 115,549. A year ago it stood at £2-1.139.531. Demand liabilities tn (lie Stale anm mt to £12,565,0W’>, an increase ot £ 1.8i.>.4uUTlie Iradirig banks’ reserve biiianees totlli £18.511.196. a decrease of £-1,140. Other demand liabilities at £657,541 have decre.iseti bv £«>299. — _ »•— Tlie statement balances at. £65.547,61*), an increase of £SBI,-ISo. « Stock Exchange Sales Dealings in stocks mid sliares recorded m. New Zealand stock exeliiinges yesterday were as follows, Hie number of shares in each lot being shown m the ease ot Wellington:— MHI.LINtiTOS. . r sale price, shares. , 1 ;;p'ii’, 1 " se . r .'.. s '. 0 - g Ml Bunk of New Zeainnd .. 2 0 <'■ ■mil I’misol. Brick mid I’ipe I' 8 J I p’e.. 36/11/194.8 IIH 0 » ~ AUCKLAND. War Loan, 1/8/51-51, 3 I’.Cg K™!/, 7-irn. 31 P.e., £1«2: <1'"“. > „.e.. £165/5/-: N.Z. Insurance. W’. to; Farmers’ Auctioneering (A Pief.). '.f:j Renown Collieries I pref.) . A Kklaml Gas 7/5; Northern Steam, b/b. Aust, (onsul.'lmlust., £2/10/-; Con. Brick, 8/9 I O’; est Products. 4/-: Wi sons Cement 18/3, Woolworths (Syd.), l(/-5 Ml. Ljcll. £l/3/ • CHRISTCHURCH. Grev River. 13/-: Slab Hut (5/- paid), cum div.. 5/4; Bank O/il: Australian Consol dated li diistrK., O’-’HI)/-: Mount I.yell. £l/9/-, Grey hirer, 13/'-. DUNEDIN. Bunk of New Zealand, £2/0/6: BoulhIrnid Frozen (lai'’ VoJi^'Tlomiu 1 11’,/-; Perpetual Trustees, £ 2/8/-. Douni ion Breweries. £l/12/6; New Zealand Insurance, £3/U/-; No"’ Zealand Drug (£- pd.). £4/3/6.

London Stock Exchange (By Telegraph.—Press Assij. Copyright.) LONDON, January 12. On lhe Slock Exchange quotations of bank Shares ami oilier corporation debeulures and stocks compare with pievious quotations as follows:-— o Dec. 29. Jan. J-.

(a) Demand liabilities in N.Z. lb) Time liabilities in N.Z a.tus.saa (e) Demand liabilities elsewhere than In N.Z. incurred in resped of N.Z. business .... odb.Pid (d) Time nubilities elsewhere than in N.Z. incurred in respent of N.Z. business 10-,lol (in) New Zealand business--Excess of assets over liabili- ; 26,610,311 “Including transfers from Bank of New Zealand’s long-term mortgage fund ot £24,503ASSETS. (e) Reserve balance li&ld in the Reserve Bank of N.Z lb,i-J,boi (f) Overseas assets in respect of New Zealand business— (1) In Rondon H'n.u’mn (2) Elsewhere -’-o.l’n'a (g) Subsidiary coin in N.Z. ... oJ-.0<d (h) Aggregate advances in N.Z. •14,4W,bW. (i) Aggregate discounts in N.Z. (j) Reserve Bank of N.Z. notes (it) Securities held In N.Z.— ' (1) Government ' 3U nao’7d (2) Other than Government 072,7+4 (1) Value of land, etc., held in 1)BlsnSR (bb) Aggregate unexercised over - . 33 ., draft authorities ±,3i,iJJ,oo-

1 .‘‘ scrvc w 0 0 , 'sl 1 !! abi,itiCS T 12. 565,oot; 4 hl Banks " 18,511,19(> 13 8 ( U) Hiilihb ...... i r.fi 0 0 Liabilities other than in N.Z. currency . 19 0 Al (N.Z.)65,5-17, 665 is d assets. Reserve— 'T 77 (a ) Gold 2,801,87 < 1 b> Sterling exchange .. 25,076,050 lb i *0 8 Subsidiary coin 19,vu<> Ad vit news — (a) To the Slate— __ ill .Marketing Dept. oiS,31).j 0 0 (2) b’or other pur0 0 i; h Other assets -.01-,818 a 1 £ (N.Z.)&*>,3-H,G63 18 a

Banks— <C s. (1. <> 15 0 £ 6 S. <1. M.S. and A. . . i 4 0 3 0 0 Inion cf Aust ,1 0 0 <1 N.S.W ‘20 10 0 ‘20 10 o Natloiiiil (if X z. .. 1 16 0* .1. 1.) New Zealand 1 IJ 0 1*2 0 Others- - British Tobaei () 1 JI (» 1 11 0 0 17 1 1 0 I i (1 )>:ilg(’l.v 1'. rind <1. def. «> 10 11 0 6 1 10 1*2 6 \ Z Lean and Mere., 711 ■1 |i.e., deb. 70 16 3 10 0 N.Z. I.(i:in and Mere., 10 0 30 10 0 *1 x dividoi d.