TRADE AND FINANCE

Evening Post, Volume CXXV, Issue 83, 8 April 1938, Page 14

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

RESERVE BANK RETURN

MARKED REDUCTION

IN DEMAND LIABILITIES TO

THE STATE

Movements in.the weekly statement of assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday April ,4, 1938, compared with returns for March 28, are as follows:—

LIABILITIES. j £ a. d. £ General. Reserve Fund 1,500,000 0 0 Unchanged Bank-notes .... 13,584,894 0 0 »30,427 Demand liabilitiesfa) State ... 5,525,098 19 11 f1.500,162 (b) Banks .. 5,712,984 19 3 *124,920 • (c) Other ... 290,317 2 10 t63,774 Other liabilities . 291,140 15 8 *56,450 • ' ' £26,904,436 17 8 t£1,«2,138 ASSETS. ■ - • £ «. d. £ Reserve— (a) Gold- 2,801,791 0 0 Unchanged (b) Sterling exchange ... 16,169,496 10 1 t760,155 Subsidiary coin . 228,334 16 7 tlOo Advances to State for Primary Products Marketing Dept.. , 5,214,344 8 2 *105,218 Investments- '..,- 2,423,525 0 0 " t">48,'460 Other assets ... 66,945, 2 10 f8,546 £26,904,436 17 8 f£ 1,412,138 .^Decrease. •Increase. Proportion of reserve (reserve less .liability in currencies othr*r than New Zealand" Currency), 75.542 per cent., compared with 74.145 per cent, for the week ended March 28, 1938. ■ The 'return .asi at April 5, 1937, (showed the following:— *'•''.■■ £ General reserve 1,500,000 Bank-notes 13,073,072 Demand Liabilities— State 7,188,600 Banks 9,538,501 Other 630,263 Other . liabilities ' 122,560 Seserve— Gold ; 2,801,791: • Sterling exchange 19,272,055Subsidiary coin 146,758 j-dvahces to State— 'For-dairy industry 6,047,127 For other purposes 800,000 Investments ' 2,906,450 Other assets 78,813 Reserves to notes and other demand liabilities 72.538 The1 proportion of reserve (less reserve liabilities . in currencies other than New Zealand currency) as at the beginning of each month for the past year -has been as follows:— 1937. Percent. March 1 67.862 April 5 7,2,538 . ,May 3 73.374 June . 781581 ■ July 5 77.632 August 2 79.676 September' 6 78.388 • October 4 ......'..-. -78.339 :" W'dvember 1 . 76.083 ■: December 6 - 73.89 1938. January 3 .". 70.088 ' February 7 67.039 • 'J.*_ch7 .... 66.019 March 21 ...........*•........ 73.143 March'2B T4.145 April 4 75.542

LONDON FUNDS,

Sterling exchange held as assets by the Reserve Bank of New Zealand over the: past twelve months as at the first w.eek of the month show the ing variations:—

1937. £ -March 1 17,458,177 AprllS 19,272,055 May.3 20,137,900 June 7" 20,909,165 July 5 19,746,704 Augusts : ...;..... 20,876,822 September 6 •....: 18/794,615 October 4 37,462,300 November 1 -17,148,967 •December 6 ............ 16,184,928 1938." January 3 16,414,909 February 7 15,700,699 March 7 ..;.. 15,617,116 March 21 17,175,592 March 28 16,929,651 April 4 16,169,496