THE MOTOR TRADE

Evening Post, Volume CXXV, Issue 112, 14 May 1938, Page 12

THE MOTOR TRADE

A PENDING CONVERSION It is understood, that one of the largest- motortdg ,Organisations in New Zealand, having a turnover approaching'; £1,500,000 a year, is shortly to be converted into a public company,.with a capital of £300,000. DREDGING SHARES IN {LONDON, i (By Telegraph—Press Assn.-rCopyrlght.) (Received "May •' 14, 10.30 a.m.) LONDON, May 13. Share , quotations:—Clutha River, buyers Is-7id, sellers Is 10£ d; Molyneux River, buyers Is, sellers Is 3d. BANK OIF ENGLAND RETURN. (By Telegraph— Assn.—Copyright.) LONDON, May 12. The weekly Bank of England return is as follows: — Issue Department— ; \ Notes in circulation .... 482,200,000 Notes in banking'dept. . 44,200,000 Other Govt securities . 186,700,000 Other securities 300,000 Silver coin — Banking DepartmentRest 3,200,000 Public deposits 36,600,000 Bankers' deposits .... 87,900,000 Other accounts ......... 35,500,000 Government 'securities . 105,700,000 Discounts and advances 7,600,000 Other securities' l " 19,400,000 Notes and coin ...... 45,000,000 Ratio of reserve to liabilities 28.11 p.c. The Bank of England discount rate remains unchanged at 2 per cent. BRITISH WAR LOAN. (British Official Wireless.) (Received May 14, 10.30 a.m.) RUGBY, May 13. The British War Loan, 3i.per cent., is quoted at £101 2s 6d. JAVA EXCHANGE. (By Telegraph—Press Assn.—Copyright.) (Received May;'l4; 10.30 a.m.) BATAVIA, May 13. Sterling exchange, 8.96 i guilders to £1. * , The rate on- May-12 ..-was 8.95J guilderg.