RESERVE BANK RETURN

Evening Post, Volume CXXIX, Issue 34, 9 February 1940, Page 10

RESERVE BANK RETURN

.CHANGES THIS WEEK

STERLING EXCHANGE INCREASING :

GOVERNMENT ADVANCES

LOWER

Movements in the weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, February 5, 1940, are shown hei'eunder:— Sterling exchange (in New Zealand currency) held by the Reserve Bank shows an increase of £516,781 and is now £9,242,501, compared / with £4,074,954 at this time last year. Advances to .the Government for purposes other than to the Marketing Department are less by £100,000, but are shown at £20,910,000 as 'against £11,950,000 a year ago. Last weefe these advances were at the record figure of £21,010,000. ■ x>?£?~ n note issue has contracted by £172,735, but at £18,141,720 it is still very high when compared with £15,206,254 at this time last year, and £14,067,973 for the first week in February, 1938. The statement oi the assets and liabilities is all in New Zealjand currency, including sterling exchange, and is as follows:— • LIABILITIES. „ • , , £N2 s. d. SN2 General Keserve Fund 1,000,000 0 0 Unchanged Bank-notes .. 18,141,720 10 0 +172 735 Demand Liabilities— (a) State . . 5,579,002 16 3 *930,519 (b) Banks ... 14,280,904 6 S j-135,Ui (c) Other 104,703 1 11 {276,591 . Liabilities in currencies other than N.Z. currency 7,258 14 S +477 Other . liabilities 507,001 2 3 *24,464 £NZ40,120,080 U. 9 *370,334 ASSETS. SN'Z s. d. £NZ Beserve— (a) Gold 2,801,839 0 0 Unchanged (b) Sterling ex- ; change .. 9,2-12,50110-0 *516,78 l'1 Subsidiary coin . 1(!0,555 . 1 8 f1,472 : Advances to State ' for Primary Products Alar- ' keting Dept. . :;,798,914 -1 1 *56,997 ; For other pur- - '. poses 20,910,000 0 0 -f 100,000 . Investments ... 3,302,023' 3 8 f01,012 I Other assets 113,917 12 4 f50,961 j £XZ 10,420.080. 11 9 *370,334 f Decrease. *Increase. * Proportion of reserve (reserve less ] liabilitity in currencies, other than New • Zealand currency) to. notes and other i demand liabilities, 1.588 per cent., compared with 30.508, per cent, for the I week ended January 29, 1940. 1 The proportion of reserve as at the 1 beginning of each month for the past 1 year has been as follows:— i 1939. l'ct cent. - January 2 + 20.13 : February 6 25.047 March ti 25.017 .April 3 _ 25.924 May 1 .' , 25.815 June 5 '29.655 ■ July 3 ..4. 31.329 j August 7 „ 28.795 September 4 „ 20.45(5 i October 2 ». 25.473 i November 6 » ~ 25.207 December 4 ...;.; , "'•MlidA I9JO January ) 27.947 1 January 29 ."{0.508 ] I'ebruary 5 31.588 i The statutory limit is 25 per cent. , RISE IN STERLING EXCHANGE. Sterling exchange... (.N.Z. currency) ■ 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 varia- ; lions:— j 1039. . £NZ. ( January 2 '..,. 4,011.232 i February 6 „ 4,074)054 ■ March 6 4.705,896 April 3 „ 4,0«3,309 •Hay 1 ~ 4,817,992 June 5 , 5,882,308 .July 3 5,090,004 August 7 . ~ 5.150.954 September 4 5,271810 October 2 i 5,338.703 i November G 5.U05 338 l December 4 -5,901,673 1940. I January 1 7,030,750 i January 22 8.346 112 + January 29 8,725,72n { February 5 9,2*2,501 ADVANCES TO STATE. i Advances to tne State for purposes ; other than for the Primary Products Marketing Department on March 14, 1938, were nil. Since June 6, 1938. they have been shown as follows:— 1938. £nz. ( •June 0 300.000 July 25 1,900,000 , August I : 2,600,000 i September. 5 3,050,000 I Oetobei 3" 4,575,000 ~\ November 7 8,050,000 } December 26 11,200,000 193% - January 2 11,000,000 1 February 6 11,950,000 ( March (j 12,725,00(i 1 April 3 12,075.000 I Mas 8 12,175,000 i Juneo 12,125.000 4 July 3 10,475,000 ' July 31 13.250.000 Ausust 28 13.850,000 September 4 14,850,000 J. October 2 10,800.000 October 9 17,275.000 i, October 16 17.425,000 i October 23 17.325,000 October 30 16,775.000 "\ November 6 10,875,000 „ November 20 16.725.000 ( November 27 16.675.000 . December 4 17,290,000 > • December 11 17.475,000 i ■ December 18 15.325,000 I December 25 19.275.000 I 1940. j. January 1 ".. 20,230,000 January 8 20.725.000 ■* January 15 20,610.000 £ January 22 20.860.000 I January 29 21,010.000 February 5 ....;.. 20,910,000 I LAST YEAR'S RETURN. J The return as at February 6, 1939, r showed the following:— i; General reserve 1,500,000 ,v Bank-notes ~ 15 206 2*54 • Demand Liabilities— I State 3,237,983 A Banks 8,860,328 Other 106.884 Liabilities'tn currencies other than r Xew Zealand 10 970 Other liabilities ' 333*299 ,- Reserve— . (. Gold 2.801.791 Sterling exchange 4,074.954 T Subsidiary coin 204,658 > Advances to State— i Primary produce marketing 6,474,431 *- For other -purposes 11,950,000 Investments 3,640,384 > Other assets 103,500 J Reserve to notes and other demand y liabilities 25,047 p

where dated, were as follows:— Highest Yield price. p.c. p.a. £ s. d. £ s. d. Wellington. ! Comra. Bauk of Aiwt. (pref.) 9 15 0 4 2 0 Bank of N.Z 2 16 -1 16 4 Union Bank 8 2 0 4 0 9 Wgtn. Woollen (pref.) 6 2 6 4 17 11 N.Z. Breweries 1 17 0 4 11 10 Anthony Hordern ... 0 15 0 6 13 4 Broken Hill Pty 2 13 7 4 13 3 Consolidated Brick . 0 9 0 U 2 2 Dunlop-Perdriau .... 1 1 10 682 Felt and Textiles ... 2 2 0 ■ 4 15 2 Northern Roller Mills 0 19 0 4 4 3 Woolworths, Ltd 15 3 3 9 3 Auckland. Auck. City, £% p.c, 1/1/1944-51 a. 101 5 0 — Mt. Albert, iY* p.c, 1/7/1944 a. 101 2 6 — Westport Boro., 4% p.c, 1/6/1948 ...a. 100 10 0 — Coram. Bank of Aust. (pref.) 9 10 0 4 4 2 National Bank of N.Z. 2 4 6 — Bank of N.Z. 2 1 9 4 15 9 Northern Steam 0 3 6 — Kaiapoi Woollen, 7s pd 0 5 0 5 12 0 N.Z. Breweries .... 1 17 0 4 11 10 Dominion Breweries, new \... 1 12 9 7 6 6 Auet. Alloy Steel ... 0 7 0 — Broken Hill Pty 2 13 9 4 13 0 Consolidated Brick .. 0 9 0 11 2 2 Colonial Sugar .... 56 0 0 30S Northern Roller Mills 0 19 0 4 4-3 Wilson's Cement .. 0 19 3 . 3 17 11 Woolworths (N.Z.) . 0 ]7 3 4 12 9 Loloma Mines 1 19 0 — Mount Lyell 1 15 6 4 4 6 Christchurch. Govt. Stock, 4 p.c, 31/5/1954-58 .a. 101 0 0 3 18 10 Coinin. Bank of Aust. (pret.) 9 15 0 4 2 0 Union Bank 8 20 464 N.Z. Insurance 3 0 0 3 6 8 Christchurch Gas, 10s ,-,»«' paid 0 12 9 5 9 9 N.Z. Refrig. 10 5 5 7 9 N.Z. Refrig., 10s pd. 0 9 3 5 18 11 Kaiapoi Woollen ... 0 13 5 5 1 4 Ballins Breweries ... 0 13 1 5 14 7 j Broken Hill Pty 2 14 0 4 12 7] Colonial Sugar 56 0 0 3 0 8j Dominion Fertiliser . 17 3 4 8 0! Hume Pipe 0 19 6 7 13 10 Grey River 0 18 6 — Mount Lyell 115 0 4 5 8 Dunedin. Govt. Stock, 0Y2 p.c, 15/1/1953-57 ....a. 94 12 6 3 18 5. Govt. Stock, 4 p.c, 15/3/1940-43 ......a. 101 10 0 3 17 1 Govt. Stock, 4 p.c, 15/2/1943-46 a. 102 0 0 3 17 U Govt. Stock, 4 p.c, 15/4/1946-49 a. 10110 0 3 18 0 Govt. Stock. 4 p.c, ! 15/5/1949-52 a. 101 10 0 3 17 9j Govt. Stock, 4 p.c, ! 15/6/1952-55 a. 101 10 0 3 17 5; Bank of N.Z 2 16 4 16 4 j Consolidated Brick .. 0 9 0 11 2 2| Dominion Fertiliser . 17 3 4 8 0| Dunlop-Perdriau .... 12 0 6 7 3| G J. Coles 430 4 10 4 Aust. Motorists Petrol 0 13 6 . — a.—Market price includes accrued interest but not brokerage.