Finance And Commerce RESERVE BANK

Dominion, Volume 36, Issue 111, 4 February 1943, Page 5

Finance And Commerce RESERVE BANK

Sterling Exchange Higher The sterling exchange funds of th e Reserve Bank on January 25 totalled £2B 751,871, an increase for the week of £1.301,182. The note issue continues to contract and stands at £29,901,687, a decrease of £108,331 for the week. The statement, as at Monday, January 25, is as follows:— LIABILITIES. £ s. d.

Proportion of reserve to notes and other demand liabilities, 47.778 Per cent., compared with 46.074 per cent, on January IS. The reserve on January 25 amounted to £31,541,851, compared with £30,228,029 on January 18, an increase of £1,313.82'2. A year ago the reserve was £16,559,121. Sterling exchange on January 25 totalled £28,751,671, compared with £27,450,u09 on January IS, an increase of £1,301,162. Liabilities in currencies other than New Zealand currency were £11,697 (a decrease or £12,600), thus rnakiuu the bank’s net overseas assets £25.731),974, an increase lor the week of £1,313,822. A year ago the assets totalled £13,589,494. Advances to the State Marketing Department total £1,235,545, a decrease of £823.350. A vear ago they totalled £6,01a,9112. Advances to the State for other purposes are unchanged at £30,000,000, against £22,500,000 a year ago. The note issue on January 25 totalled £29.901,687. a decrease for the week of £108.334 A year afo it stood at £23,784,133. Demand liabilities to the State amount to £l2 444,540, a decrease of £1.3,905. Hie trading banks’ reserve balances total £2” 701,633, an Increase ot £496,-788. Other liabilities at £880,141 have increased by TheO^statemeut balances at £69,093,03a, an increase of £428.723.

Stock Exchange Sales Dealings In stocks and shares recorded on New Zealand stock exchanges yester<lav were as follows, the number of shares in each lot being shown in the case of Wellington WELLINGTON. , , „ , no. or Tau: £36o° War Loan. 1/10/53 *9l 2 0 100 N.Z. Breweries n 100 Woolworths Properties ... 100 •Late sale Tuesday. AUCKLAND. Hiser. Stock. 3 P er . ee , n ‘;’„ 10/-- ditto, 3 per cent., 10u2-.x>, £99/l*/6. Auckland Harbour Board, Ji per cent., 1057 £108.15/-: Commercial Bank of Australia. 16/9; Bank of N.Z., £2/1/3; National Insurance (2), £l/1/9; Standard Insuemice £3/10/-: Northern Steam. 6/9, Renowu Collieries, 9/1; Westport-Stockton Coal, 2/10; Wellington ,'' Vool ' e "> l Py.f f ' lot), £8: N.z. Breweries, tl/li/4, Bri • ish Tobacco, £2/S/-; Bycroft, £-/S,J, Donaghys Rope (2), G'.jb £2/19/-: Woolworths (Syd.), 3), Emperor Mines, 14/-; Mt. Lyell, £l/9/3Unofficial list; Silknit, 10/-. CHRISTCHURCH. laser. Stock, 4 per cent., 1946-49. £lO4 10/-' Comm. Bank ot Aust., 16/10; British Tobacco £2/8/-; Woolworths Properties. £l/0/ - DUNEDIN. Nat Bank of A'asla., £l2; Bank of N.Z. £2/1/1; Wright, Stephenson, pref., £l/1/-: Electro Zinc, pref., £2/14/6. N.Z. Farmers’ Fertilizer N.Z. Farmers' Fertilizer Co.. Ltd., advise that the 54 per cent, preference halfvearlv dividend, less tax, Is payable on February 16. Transfer books will clo.se from February I) to February 15 Inclusive. Gold Mining The Slab Hut return Inst week was 52 oz. for 116 hours from 14,200yd5. The Okarlto wash-up was lioz. iiawt. for 86 hours from 3280yds.

General reesrve fund 1,500,000 0 0 Bank notes 29,991, OST 0 0 Demand liabilities— (a) <State 12,444,545 14 i) (h) Ranks ...... 22,701,633 4 4 880,141 Liabilities other than in N.Z. currency 11,696 lo 8 Other liabilities 1,563,330 15 10 £(N.Z.)69,093,034 11 0 ASSETS. Reserve — £ s . d, (a) Gold 2,801,877 10 (J (>b) Sterling exchange 28,751,671 • i 11 24,187 13 8 Advances to the State— (1) Marketing Dept. .. 1,235,545 o 9 (2) Other purposes .... 30,000,000 0 0 10 6 Other assets 1,821,871 7 - £(N.Z.)69,093,034 11 0