PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CXXI, Issue 144, 19 June 1936, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

RESERVE BANK RETURN STERLING EXCHANGE LESS NOTE ISSUE NORMAL The weekly statement of assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, June 15, showing movements compared with the return for Juno 8 is as follows: —

tDecrease *Increaso. Proportion of reserve (reserve less liabilities in currencies other than New Zealand currency), 96.716 per cent., compared with-96.715 per cent, for the week ended June 8, 1936. The return a year ago, as at June 17, 1935, showed the following:—

FOREIGN EXCHANGE RATES

Closing sight rates as quoted by ths Bank of New South Wales, Wellington, today, for buying and selling foreign currencies based on New Zealand currency are as follows:—

The above rates are for on demand transactions. The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice. Based on the figures quoted by the Bank of New South Wales the New Zealand pound, compared with its original par value, is equivalent to epproximately:—

DOLLAR AND STERLING (By Telegraph—Press Assn.—Copyright.) (Received June 19, 9.30 a.m.) LONDON, June 18. Sterling exchange, London on New ■ York, 5.02 i dollars.

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following- dollar rates today, on a New Zealand currency basis. They are subject to alteration without notice.

BANK OF ENGLAND RETURN. (By Telegraph—Press Assn.—Copyright.) (Received June 19, 11 a.m.) • LONDON, June 18. The weekly Bank of England return is as follows:— Issue Department—

bilities 28.65 p.c. The Bank of England discount rate remains unchanged at 2 per cent.

TRADING BANKS

ADVANCES LOWER

DECREASE IN DEPOSITS

Returns of the six trading banks doing business in New Zealand as at the.close of business on April 27 and for May 25, 1936, as furnished to the Reserve Bank ot New Zealand, compare as under:— DEBIT

PRICE AND RETURN

Latest sales reported and made on the Stock Exchanges of the Dominion, with the highest prices and the approximate yields per cent, per annum to investors (all subject to appropriate taxes and exchange where operative), based on the last annual distributions plus bonuses, if any, and considering redemption and brokerage in the case of redeemable securities where dated, were as follows:—

PRICE OF GOLD

(By Telegraph—Press Assn.—Copyright.! (Received June 19, 9.30 a.m.) LONDON, June 18. The price of fine gold per ounce, 138s 7d.

JAVA EXCHANGE. (By Telegraph—Press Assn.—Copyrigkt.) (Received June 19, 9.30 a.m.) LONDON, June 18. Sterling exchange, 7.404 guilders to £1. The rat-p on .Tune IV was 7.41 J.

LIABILITIES. £ s. d. B General reserve Fund 1,500,000 0 0 Unchancod Bank-notes 10,049,350 *30,578 Demand Liabilities— (a) State ... 9,:CS,407 3 8 *22,57fi (b) Banks .. 7,095,342 19 0 t228,079 (c) Other .... 140,636 13 I *52.80e Other liabilities . SS.GOO 13 8 *G,577 Liabilities in currencies other than N.Z. currency •. — 18,600 £2S,eCG,997 9 3 t97,539

ASSETS. £ S. & £ («) 2.801,733 0 0 Unchanged (b) Sterling ex- .„„ „,„ cUant'0 .. 23,388,007 4 2 f99.3 2 Subsidiary coin . 198,213 117 t2,434 Investments ... 2,014,858 13 ff tHO Other assets ... 264,187 0 0 *4,817 £28,666,99T' 9 3 f07,539

Bank-notes 9,172,472 0 0 "W 13,326.397 G 3 Banks 3,S0O,679 10 3 Other ...' 27,201 5 6 Other liabilities 53.99T 3 6 Keserve— Gold 2,801.731 0 0 Sterling Eichango 22,813,001 110 •Investments 2,094,075 0 0 Other assets 24,485 1 3 Beserve to notes and other demand 97.29p.c

Buying. Selllne. On demand. On demand New Zealand on £ s. d. S s. d %r a T. £ . A .: o .. £N : z :ioi o o looio - TlH—St to £N.Z., 100 . 99 I 6 89 0 0 New York—Dollars to ' £N.Z. 1 .... 4.08% 4.03% Montreal—Dollars to £ ,..., N.Z. 1 4.08T's 4.04% Austria— Schillings to S N.Z. 1 — 20.99 EelRlurn—Belsas to £ JJ.Z. 1 — 23-" 1 Czechoslovakia — Crowns to £N.Z. 1 — fl0 - 72 Denmark—Kroner to £ N.Z. 1 18.203 1T.003 Trance —France to £ N.Z. 1 — r,113 Germany—Relchmarks to £N.Z. 1. — oon Holland—Florins to £ N.Z. 1. — 5 - 931 Jara—Florins to £N.Z. j ■ — 5.391 K Trr~ J.°.... £ 10.243 !5.903 Sw £ i5 _ gM j BW E N.zf n i:~T^""... *? - 12.400 Noumea —Francs to £ .„ S.Z. 1 — 59.78 Papeete—Francs to S N.Z. 1 •• — » 9 - 93 1S1I-32 10 29 - 32 India a.:-) Ceylon—N.Z. pence to I rupee .... 22 3-61 22T4 Japan-N.Z. pence _ „ W _ M ,, .?. 0 . 0 .. 1 . 0 . Iβ M-β* 1815-32 ■■TdSEri* r."» 34V. 35 31-64

£ a. d. 0 16 1 in London. 10 1 in Australia. : u Iβ 6% In V.S.A. I) Iβ 7% in Canada. i) 9 10'A lu Trance. 0' 9 9 in Germany. 0 9 8'A In Java. 1 T 10% in Japan.

. Dollars. June 17 5.037-8 |Sl6 5.03| ! June 15 5.02* June 13 5.0211-16 June 12 5.03 June 11 5.02 June 10 5.01§ June 9 5.01 June 8 4.995-8 June 6 5-02 June 5 5.02,-8 June 4 5-2??"5 June 3 ... 5.011-8 June. 2 4.991 May 1 4.937-8 April 1 4.953-8 March 3 5 ; 1 ?,.! January 20 i%klh W \ January 1 4.B.J7-B ' February 1 5.001-16

U.S.A. Canada (per £1 (per £1 N.Z.). N.Z.) I Dols. Dols. Selling— TT. 4.031 4.04J On demand 4.03 J 4.04J Buying— On demand ........ 4.08 1 4.09 J

£ Notes in circulation ... 432,000,000 Notes in banking dept. . 39,800,000 Other Govt. securities . 248,100,000 Other securities 100,000 Silver coin 800,000 Banking DepartmentRest 3,300,000 Public deposits 14,000,000 Bankers'deposits 91,000,000 Other accounts 37,400,000 Government securities .. 98,300,000 Discounts and advances 4,800,000 Other securities 16,400,000 Notes and coin 40,700,000 Ratio of reserve to lia-

April 27 May 25. s s Reserve , balances held In Reserve Bank of New Zealand ... 8,379,0i>'.i S,07u,2^3 Overseas assets In respect of New Zealand business— (1) In London . 13/jso,iu» ir.,700.923, [ (2) Elsewhero .. 6,305,0CS 6,158,044 Gold and sold liullion held In N.Z. .. 723 862 I'Subsldlaiy coin held In N.z 738.0S3 "34,893 Advances in N.Z. ... 44,603,907 41,494,0811 Discounts 480,961 476,735 iteserve Bank of N.Z. ' | notes 3,627,189 3,520,030 Securities held In New Zealand— (1) Government . 5,157,286 5,202,001 (2) Other than Government ... 290,277 _98,soJ Value of land, buildings, furniture, Uttlngs, and equipment held In N.Z 1,504,867 1,512,291 Totals £87,2r4,190 £87,173,951 CREDIT. £ £ Demand liabilities In New Zealand .... *32,049,252 31,583,672 rime l ab. lilies In New Zealand 37,310,S26 36,0.5,282 (li'niiittil liahllltles elsewhere than In N.Z. Incurred In respect of N.Z business B91,iSi 847,913 lliiu- llahillties elsewhere than !n N.Z. Incurred In respect of N.Z. business .. 661,081 722,001 Notes of own Issue In circulation pay- _.,.„. .,..., nblo In N.Z 537,624 u2S,062 N.Z. business, excess of assets over liabilities 16,123,677 16,9S0,41S Totals £87,274,190 £87,173,951 •Includes transfers from long-term mortgage fund. Bank of New Zealand, of £324,112 as at April 27.

Highest Tield. price. pc, p.a £ s. cl. £ s. d. Wellington. Inscr. Stock, 4 p.c. (1940) a. 102 12 C 3 10 8 Inscr. Stock, 3& p.c (1939-52) a. 102 15 0 3 8 0 Inser. Stock, 3& p.c. (1938-52) a. 102 15 0 3 8 6 Bank of N.Z. (D mort.) 18 0 5 5 3 South British Ins. .. 4 12 I) 2 17 6 Union Steam (pref.) .10 2 4 4 0 Leyknd-O'Brien .... 126 4 8 10 Staples and Co. ..... 1 14 0 2 17 11 Broken Hill Pty. ..i. 3 10 0 2 Iβ 9 ' Mossy Creek 015 , — Argo Gold 0 19 — Mount Morgan 0 15 2 6 1110 Unofficial — Shillings, Ltd. (10s) .. 0 14 C — Auckland. Inscr. Stock, 4 p.c. (1940) a. 102 15 0 3 9 11 Inscr. Stock, 4 p.c. (1946) a. 104 2 6 3 10 8 Inscr. Stock, 4 p.c. (1949) a. 104 0 0 3 11 3 Bank of N.Z. 2 2 0 4 15 2 Bank of N.Z. (D mort.) ISC 553 N.Z. Insurance 3 5 0 3 10 South British Ins. ... 4 12 9 2 17 G Goldsbrough Mort ... 1 12 9 4 5 5 Renown Collieries ... 0 10 11 2 5 9 Auckland Gas 1 5 10 4 5 2 Kauri Timber 13 7 5 6 0 Australian Glass 4 11 0 3 5 11 Broken Hill Pty. . .i. 3 10 0 2 17 2 Electro. Zinc (pref.) .223 3 15 8 McKendrick Bros. ... 10 3 — Morris, Hedstrom .... 1 5 10 3 17 C Golconda Holdings .. 0 0 10 — Unofficial— N.Z. Perpetual Forests 3 0 0 2 13 4 Selfridge's (A'asia) .. 17 3 — Christchurch. Inscr. Stock, 4 p.c. (1940) a. 102 12 C 3 10 8 Inscr. Stock, 4 p.c. I (1955) a. 104 0 0 3 12 0 Quill, Morris, 4 p.c. f (1940) 80 0 0 u. Lyttelton Harbour, 4Vi p.c. (31/3/51) ....a. 100 0 0 3 13.4 Comm. Bank of Aust. 0 19 3 3 0 7 Goldsbrough, Mort .. 1 11 9 4 8 2 Westport-Stockton ... 0 2 0 — Broken Hill Pty. .;.. 3 10 3 311 2 BrokeD Hill Pty. (new) 2 8 9 n. Electro. Zinc (pref.) .223 3 15 9 Kauri Timber 136 56 5 General Industries (12s 6d) 0 19 4 0 9 3 N.Z. Newspapers .... 210 2 18 6 Consolidated Brick .. 0 9 0 4 4 2 Dom. Builders' Sup1 plies 0 6 0 8 6 8 Hume Pipe (Aust.) .. 10 0 4 0 0 Mount Lyell 14 7 2 0 7 Big River 0 2 3 n. King Solomon 0 1 10% i>. Mount Morgan 0 15 6 6 9 0 Alexander Mines (15s) 0 14 4 n. Unofficial— Selfridge's (A'asia) .. 18 0 — Shillings, Ltd. (10s paid) 0 1* 9 — Woolwortlis, Ltd. .d.f 5 14 0 1 10 9 Dunedln. Bank of N.Z 2 3 9 4 13 7 National Ins 0 18 6 4 11 N.Z. Refrisr. (10s pd.) 0 9 6 5 15 9 Dominion Fertiliser . 15 4 3 11 0 Milburn Lime 2 2 0 4 3 4 Mount Lyell 14 8 2 0 6 Unofficial— Selfridge's (A'asia) ... 1 8 1% ~ V-Ex. rights. a.—Market price includes accrued interest, but not brokerage. d.—Capital doubled by issue of bonua shares. 1:1. i.—Interim div. increased. n.—Position not available.

Per oz. s. d. June 17 138 3 June 16 138 5 June 15 138 0 June 13 138 7£ June 12 138 6* June 11 138 i> June 10 138 8 June 9 139 0 June 8 139 4 June 6 138 9 June 5 138 6J June 4 138 3J June 3 338 10 June 2 139 2 May 4 140 4 May 1. 2 140 10 April 1 140 8 March 2 141 U I February 1 141 0 January 2 HI 4