RESERVE BANK RETURN

Evening Post, Volume CXXVI, Issue 151, 23 December 1938, Page 12

RESERVE BANK RETURN

RECORD NOTE ISSUE

LONDON FUNDS LESS

SIGNIFICANT CHANGES

Movements in the weekly statement Of assets and liabilities of the Reserve Bank of New Zealand as at the close jof business on Monday, December 19, 1938. compared with returns for December 12, show ster ing exchange in New Zealand currency now £4,366,095 compared with £4,200,856 at December 5, and £4,572,031 on De- . cember 12, and £16,877,582 a year ago. Sterling exchange this week reduced. Advances to State more by over £1,000.000. Note issue a record. Treasury bills increased. Dairy advances rising. The statement of the assets and liabilities all in New Zealand currency, including sterling exchange, is as follows:— LIABILITIES. £NZ s. d. £NZ Gen.... licservtFuiivi . i,out).ooo o 0 Unchaugeu Bank-notes .. 16,298.740 0 .0 "1.102.977 Ceiii,,n <iat>UUles(a) State 2,542,987 6 0 t490,637 (b) Banks .. 6,426,619 10 7 *710,991 (c) Other ... 180.804 17 10 U49.947 Halniaiei< Id currencies other than \it cur rency 16,284 1 0 *6,185 Other liabilities . 196,233 3 8 *16,435 5NZ27.161.668 19 1 •1.196.005 ASSETS. £NZ s. d. £NZ Be3erve (a) Gold 2,801.791 0 0 Unchanged (ii Merlins exchange ... 4,368,094 17 5 t203,931i Subsidiary coin . 193,667 310 t6,648 Treasury and local body bills .. 500,000 0 0 "200.000 Advances v- State for Prlmarj Products Mar ketlng Dept. 5.184.588 2 2 »172.000 Eposes 1"6' ..PUr: 10,400,000 0 0 n.040.000 investments ... 3,605,022 5.11 Unchanged Other . assets .. 108,505 9 9 t0.411 5NZ27.161.668 19 1 *1.196.005 \ rOecrease • Increase "Proportion ol reserve \ reserve less liability in currencies other thaD New Zealand currency' to notes and other demand liabilities, 28.109 per cent.,, compared with 30.333 per cent, for the week ended December 12, 1938. The proportion ol reserve as at the beginning of each month for the past year has beeD as follows: — 1931 Per cent Novembei 1 - 76.083 December 6 .. 73.89 1938 January 8 10.088 February 7 67.039 March 7 ... 66.019 &nrl) 4 »• T5.542 May 2 T9.569 ■ June 8 77.906 luly 4 76.181 .UgUSt I 69.249 September ft .............. 65.84 i Oetobei 3 «...:.. 57.255) November 7 39.733 December 5 29.834 December 12 30.333 December 19 28.109 The statutory limit is 25 per cent. (FURTHER ADVANCES TO STATE. Advances to the State for purposes other than for th. Primary Products Marketing Department on Seotember 20. 1937, were £500.000 At December 19, 1938, they were at £10,400,000 Advances to the State other than for primary products since September 1937, have been shown as follows:— 1937 £N2 September 20 500.000 November 1 700.000 December 13 900.000 1938 January 81 1,100,000 February 28 1.300,000 March 14 Nil June 6 800,000 June 2? ". 600.000 July 85 .....,«.. 1.900.000 Ausruat 1 ..: 2.600.000 September 5 ... 3.050.000 • October S 4.575.000 October 81 6,850.000 November » 8.050.000 November 14 ,*.• 8.300.Q00 November 21 8.500,000 December 5 8,680,000 December 12 • 9,360,000 December 19 10.400.000 STERLING FUNDS REDUCED. - Sterling exchange held as assets by the Reserve Bank of New Zealand for the past twelve months as at the first week of the month showed -the following variations: — . 1937. £N2 December 6 16.184.928 1938 January 3 ............ 15,414,909 February 1 15,700,699 March 7 *. 15.617,116 April 4 .«....»... 16.169.496 May 2 17.627,443 June 6 17.801.586 July 4 15,941,567 August 1 * 15.322,308 September 5 ............ 12,638.656 October 3 '.. 10.594.978 ; November 7 6,683,031 December 5 4,200,856 December 12 4,572.031 December 19 4,368,095 LAST YEAR'S RETURN. The return as at December 20, 1937, ehowed the following:— £N2 General reserve 1.500.000 Bank-notes 15.094.214 Demand LiabilitiesState 4,033.602 Banks 8.041,455 Other it. 623,267 Other liabilities 170.701 ReserveGold 2,801,791 Sterling exchange ............ 16,877,582 Subsidiary coin 212,320 Advances Xo State— For dairy purposes ............ 5,778,471 For other purposes 900,000 Other advances lr2'2S2 Investments ". 658,325 Other assets 84.751 Reserve co notes and other demand liabilities 70.808 AUSTRALIAN SHARE PRICES (By Telegraph—Press Association —Copyright.) SYDNEY, December 22. Sales on the Sydney Stock Exchange today included:— £ s. a. Commonwealth Bonds, 4 p.c, 1950 10? 7 6 Comm. Bank of Sydney .. 21 4 0 Bank of New South Wales 29 18 0 Australian Glass 5 6 6 Broken Hill Pty 2 16 6 Dunlop-Perdriau 1 }| £2 Farmers 1 W 0 Henry Jones Co-op 2 8 6 The Stock Exchange closes until January 3 MELBOURNE, December 22. On the Stock Exchange-of Melbourne today the market closed with a firm tone Industrials were steady, with Australian Glass in demand. Sales inCluded: ~ • £ s. d. Comm. Bank of Australia . 015 7 Australian Glass •••-••••• X £ X Nat. Reliance Invest. Trust . 0 9 3 Mount Morgan 0 10 0 Broken Hill Pty 2 16 0 Emperor Gold 0 10 1 Loloma Mines 1 l * STOCKS AND SHARES. ULTA.N V McLABiL, Merobei ol Wellington Stock' Exchange, Stock and Share Broker, Bank of Australasia Chambers. 101 Customhouse Qnay, Wellington Tel 43-220. Telegrams ULTMA. Wgtn