RESERVE BANK

Evening Post, Volume CXXV, Issue 111, 13 May 1938, Page 12

RESERVE BANK

THE WEEK'S CHANGES DAIRY ADVANCES REDUCED Movements in the weekly statement of assets and liabilities of tjie Reserve Bank of New Zealand, as at the close of business on Monday, May 9, 1938, compared with returns for May 2, are as follows:— LIABILITIES. _ £ a. <L e General Reserve » 1.500,000 0 0 , Unchanged Bank-notes .... 14,089,008 10 0 ' t38,554 D«iand liabilities— T («) State .... 4,391,822 14 7 *70,058 (b) Banks ... 6,264,716 5 1 t703,047 (e) Other .. 321.135 16 0 *43,495 Other liabilities 294,127-12 9 t1,484 ■ £26,840,868 18 5 f 629,532 ASSETS. „ £ i. d. £ Beserve— (a) Gold 2,801,791 0 0 Unchanged <b) Sterling exchange ... 17,461,182 4 8 t166,261, Subsidiary coin . - v 227,26 al2 10 t975' Advances to State for Primary Products Marketing Dept. ....... 3,632,864 14 3 f588,097 Investments .. 2,650,676 12 0 *118,597 Other assets .. 67,088.14 8 *7,204 £26,840,868 18 5 f629,532 IDecrease ' Proportion of reserve (reserve less liability in currencies other than New -Zealand currency), 80.9 per cent., compared with 79.569 per cent, for the week ended May 2, 1938. ■The return as at May 10, 1937, showed the following.*:— £ ' General reserve 1,300,000 Bank-notes :.... 12,863,361 Demand Liabilities — State 6,852,878 Banks ■ 9,949,099 Other ." 1,009.831 Other liabilities 1 .. 126,028 Beserve— Gold - MQM9I ' Sterling , exchange 20,632,975 Subsidiary coin 144,51)0 Advances to, State For dairy. Industry 5,536.159 For other\ purposes 200,00 1 Investment* "... 2,906.450 Other asset* 79,831 Reserves to notes and otner demand liabilities ........ 76.396 The proportion of reserve less reserve liabilities in currencies other than New Zealand currency) as at the beginning of each montn for the past year has been; as follows:— 1937. Per cent ' toil 5 72.538 ' ' May 3 73.374 , June 7 78.581 < July 5 ......1 77.632 August 2 ...4.... 79.676 September* X . 78.388 1 October 4 ...X 78.339 I November 1 .1............... 76.083 i December 6 73.89 1 1938. January S ...... 70.088 February. 7 .4. . 67.039 March 7 66.019, April 4 i. 75.542 April 25 81.667 May 2 : 79.569 May 9 80.9- J LONDON FUNDS. ] Sterling exchange held as assets by 1 the Reserve Bank of New Zealand over i the past , twelve months as at the first ( week of the month show the follow- ( Ing variations:— ■ 1 1937. £ . \ AprllS 19,272.055 A May 3 , 20,137,900 June 7 .j- 20,909,165 7 Julyß ..i, 19,746,704 ..August 2 if............. 20,876,822 Septembers 18,794,615 ' October 4 . , 17,462,300 1 November 1 17,148,967 December • 16.184,928 1 1938. January 3 16,414,909 T February 7 ............. 15,700.699 1 March T .15,617,116 Aprils* ................. '16,169.496 ] April 25 ................" 18,326,687 1 May 2 '17,627,443 j , May 9 17,461,182 •/

DOLLAR AND STERLING (By Telegraph—Press Aesn.<-Copyriglit.) (Received May 13, 10 a.m.) < LONDON, May 12. Sterling exchange, London on New York, 4.97 3-8. Dollars. May 11 4.941-8 May 10 4.977-8 May 9 4.97} May ,7 4.983-38 - May 6 4.99 May .5 4.99 May 4 4.9813=16 May 3 4.98} May 2 ............... 4.9811-16 April 30 ..i.....i...... 4.985-8 April 28 .....;......... 4.987-8 April 27 4.98 5-8 April 26 4.983-8 April 1 4.965-8 March 1 6.02 February 1 •••• 5.019-li January 1 5.005-16 THE FRENCH FRANC (By Telegraph—Press Assn.—Copyright.) (Received May 13, 10 a.m.) , ■.-•■/■ LONDON, May 12. i Sterling-exchange on Paris, 177} ■francs to £1. f> ~.;':..■ ,;'-'-■. . '•■'■■ Francs. May 11 177} May 7 1797-8 May 4 168$ May 2 162} April 25 165} April 21 1591-8 April 1 162* March 26 16315-16 March 8 .............. 15515-16 Par with sterling, 124.'il francs to £1. PRICE OF COLD. (By Telegraph—Press Assn.—Copyright.) (Received May 13, 10 a.m.) LONDON, May 12. The price of fine gold per.ounce, 139s IOJd. s. d. May 11 139 11 , May 10 139 9J May 9 139 10 May 7 139 8i May 6 139 8 , May 5 139 7 , May 3 139 6 May 2 v 139 6J April 30 , 139 6J April 28 139 6 April 27 139 7 ApriM 140 0J March 1 139 9J February 1 139 7 January 3 139 .5 Highest price in 1937, March 6, 142s 7Jd: average price in 1930, 85s per or.