FINANCE & COMMERCE

Dominion, Volume 38, Issue 4, 29 September 1944, Page 6

FINANCE & COMMERCE

TRADING-BANKS

Deposits.Up; Advances Down A rise in deposits, a fall in advances and au increase in. net overseas funds are the main features in the latest returns of the trading banks. Tbe monthly summary of assets and liabilities, as at Monday, August 28, shows the following figures in respect of the six banks:—'’ . LIABILITIES,

£142,425,019 (hh) Aggregate unexercised overdraft authorities ..... £33442,111 Overseas Funds Increase. London funds on August 28 totalled £11,127,483, an increase of £402,540. Overseas funds held elsewhere than In Lon-, don were £ 1,696,0 CT, a decrease of £BO,006. total funds being £12,824,450, a net Increase of £322,534. Against these funds were demand and time liabilities amounting to £587.716. thus making the banks’ net overseas assets £12,236.734, compared with £11.772,794, on July 31, an increase of £463,940. Increase in Deposits, Demand liabilities on August 28 were £91,606,022, au increase of £1,507,252. Time liabilities were' £30,939,986, an increased £251,211. The total of demand and time liabilities was £122,546,008, compared with £120,787,545 on July 31, an increase of £1,758,463. The total of demand and time liabilities eleswhere than In New Zealand was £587,716, a decrease of £141,406. The banks' excess of assets over liabilities was £19,301.895, an increase of £620,790. Reserve balances of the six banks total £37,852,896, an Increase of £1.730,016. . , , v . Government securities held by the banks total £36,140.220. an increase of £3396. Other securities at £2,497,232 have decreased by £17.585. Fall in Advances. Aggregate advances on August 28 were £45,609,566, a decrease of £326,778. Aggregate discounts at £101,752 were £14,548 lower. The total of advances and dis-., counts was £45,171,348, , a decrease of £341 326. The "excess of demand and time liabilities over advances and discounts was £77,374,660, compared with £75,274,871 on July 31, and £75,323.441 on June 26, The ratio of advances and discounts - to total deposits on August 28 was 36.861 per cent., compered with 37.680 per cent, on July 31, 37.636 per cent, on June 26, 37.810 per cent, on May 29. 38.909 per cent, on April 24, and 40.846 per cent, on March 27. ■. ' • The aggregate unexercised overdraft authorities on August 28 amounted -to £38.142.111. an increase of £207,500. The, total of advances and discounts and unexexcised overdraft authorities on August 28 totalled £83,313,459, a decrease of £133,826. ' The active note circulation on August 28 was £32,635,235, compared with £32,882,930, on July 31, a decrease of £247,695. STOCK EXCHANGE .■■ Sales In New Zealand ' ‘ Dealings in stocks and shares recorded on New Zealand Stock Exchanges, yesterday were as follows, the number of shares in each lot being shown in the case of Wellington:—

AUCKLAND. Inscr. Stock, 24 per cent., 15/9/417, £9B; ditto, 24 per cent.', T/10/53, £9a; ditto, 3 per cent., 15/9/52-55, £97/10/-; ditto, 3 per e'ent., 15/12/53-56, £08; ditto, 4 per cent., 15/5749-52, £lO4/5/-; Bank of NA., £2 4/9, £2/4/10; Bank of Australasia, £9/6/-, Auckland Gas, con., 3/3; N.Z. Breweries (2), £2/2/-; Broken Hill Pty,, £2/5,.-; Consol. Brick. 10/3; Farmers’ Trading, £1 6/6; Fletcher Holdings, £l/6/-; Reid Rubber, £l/7/0; R- and.E. Tingey, pref., £1 9/6; Woolworths (Syd,). £l/0/10; Mt. Morgan, 7/9.

CHRISTCHURCH. Inser. Stock, 4 per cent., 15/6/52-55, £lO5 12/6; Wool Bonds, 1/2/48 (2), £l/0/3; N.ZLoan and Mere.,. £73; N.Z. Breweries. £2 2/-- Anthony Hordern, 19/9; Canterbury Roller Flour, 17/6; Dunlop Rubber, £1 5/-; Farmers’ Trading, £l/6/6; United Provisions, 14/3. Unofficial list: E. Reece Ltd., pref., 5/6. DUNEDIN. Inscr. Stock, 21 per cent., 13/6/47-49, ±197 5/-; Wool Bonds, 1/2/48, £l/0/2; bank ot N Z., £2/4/9; Westport Coal, £l/5/9; N.Z. Breweries, £2/2/-; Imperial Chemical Industries, pref., £l/7/6: Milburn Lime, <~l 16/-; Reid Rubber, £l/7/9. Smith & Smith Dividend Smith and Smith, Ltd., advise that at the annual meeting on Wednesday a dividend was declared of 41 per cent free of security taxes on the ordinary shares, payable oit October 1, making It per cent, for the year, an unchanged rate. Transfer books reopen on October 1. Gold Mining The Grey River return for the fortnight ended September 27 was 349J0z. for 212 hours from 113,538 yards.

Lit. Morgan Surplus j Mount Morgan, Ltd., reports' an estimated working surplus for the four weeks' ended September 17 of £3048.

(a) Demand liabilities in N.Z. (b) Time liabilities in N.Z. ....- £ •Hl, God, 022 30,939,98(1 (c) Demand liabilities elsewhprc than in N.Z. Incurred in respent o£ N.Z. business. . '. 510,013 (d) Time liabilities elsewhere than in N.Z. incurred in respect of N.55. business .... 77403 (m) N.Z. business—excess of assets over liabilities 19,291,885 Total £ 142,420,619 •Including transfers from Bank of New Zanland’s long-term mortgage fund of

£00,060. ASSETS. £ (c) Reserve balances held in the Reserve Bank of N.Z 37,832,896 (f) Overseas assets in respect \ ■■ of N.Z. business— (1) in London 11,127,483 (2) Elsewhere ' 1,C90,OG7 (g) Subsidiary coin In N.Z. .. 682,476 (h) Aggregate advances in N.Z. 45,060.566 (a) Aggregate discounts iu N.Z. 101,782 (j) Reserve Bank of N.Z. notes 5,326,017 (k) Securities In N.Z.— (1) Government 36,140,220 (2) Other than Govt. 2,407,232 (1) Value of land, buildings. etc., held in N.Z. < 1,930,080

WELLINGTON. No. of Sale price. shares. ' . S 8. a. £1800 laser. Stock, 2} per cent., ~ 15/9/47 (2) ...» 98 0 £300 dittos 24’p.c.'. 15/6/47-49 . 97 5 0 £1900 ditto, 24 p.c.. 1/10/53 (2) •95 0 0 £500 ditto, 3 p.c., , 15/9/o2-o5 .. •97 10 0 £1000 ditto, 3 p.c., 15/a/53-o8 .. *98 5 0 £1700 ditto, 3 p.c., 15/12/o3-56 (2) •105 12 8 100 Coni. Bank of Aust .... ♦0 18 0 0 8 0 100 N.Z. Breweries 2 2 0 100 Imperial Chemical Indus. 1. 7 6 100 Woolworths (Syd.) 1 0 8 300 Mt. Morgan ®0 7 V •Late sale .Wednesday.