RESERVE BANK RETURN

Evening Post, Volume CXXX, Issue 107, 1 November 1940, Page 10

RESERVE BANK RETURN

STOCK & SHARE MARKET

i NOTE ISSUE LOWER

Sterling exchange rising

;• Movements in the we'efcljr statement f assets, and .liabilities of the Reserve Jank of New Zealand as at the close if business on Monday, October 28, 1940, -are shown hereunder:— The bank-note issue at £20,200,951 shows a small reduction this week of £27,681 on the highest figure so far recorded, namely, £20,228,632. But, compared with the return for October 30, 1939, it is £2,829,131 higher than it was n TTpi 01* 3£T C\ Sterling ' exchange at £8,929,403 shows a slight increase this week, amounting to £108,639; a year ago the holding was £5,743,087. ■ Advances by the Bank to the State for purposes other than marketing remain at £25,140,000, as they stood on October 14. . ' , , The statement of the assets and liabilities is all in New Zealand currency, including sterling exchange, and is as follows: — LIABILITIES. £NZ s. d. £NZ General Reserve 1,500,000 0 0 Unchanged Bank-notes 20,200,95110 0 |2(,681 Demand Liabilities— ! State 6,354,844 17 3 *J94,105 i Banks 13,283,070 15 1 t^'^l Other 2,146,577 4 5 "28<,064 Currencies other ■ . ~.,,. than N.Z 11,865 2 8 f54,176 Other liabilities . ' 848,649 16 5 *13,209 £NZ44,345,959 5 10 *607,164 ASSETS. £NZ s. d. £NZ Reserve — Gold 2,801,852 0 0 Unchanged Sterl. exchange 8,929,403 6 1 * 108,639 Subsidiary coin 98,199 19 8 *0,7<3 Advances to State— Marketing .... 2,866,371 5 6 *18,940 Other purposes 25,140,000 0 0 Unchanged Investments .... 3,771,720 8 0 *310,481 ! Other assets .„■ 738,412 6 7 -163,330 £NZ44,345,958 5 10 *607,164 •^Decrease. "Increase. Proportion of reserve (reserve less liability in currencies other than New Zealand currency) to notes and other demand liabilities, 27.913 per cent., compared with 27.904 per cent, for the week ended October 21, 1940. The proportion of reserve as at the beginning of each month for this year has been as follows: — 1940 Per cent. January 1 h 2X"2~ 7 April 1 39.224 July 1 35.63 October 14 25.49 October 21 27.904 October 28 27.913 The statutory limit is 25 per cent. STERLING EXCHANGE INCREASE. Sterling exchange (N.Z. currency) held as assets by the Reserve Bank of New Zealand as at the first week of the months has shown the following variations: — 1940. £KZ January 1 7,036,750 February 5 9,242,50] •■■ ■ March 4 10,020,871 ;'• April 1 X .... 12,707.890 .May 6 .. 13,658,465 .. June 3 14,673,730 July 1 13,420,644 August 5 13,092,952 September 2 11,183,295 . October 7 '. 9,396,187 October 14 8,889,781 ~ October 21 ~ 8,820,764 October 28 8,929,403 BANK-NOTE ISSUE LESS. > Bank-note returns for the first Monday in the month to October 28, 1940, compare as follows: — 1939.. 1940 £ £ January 16,494,890 19,184,088 March 14,810,081 17,954,492 October 7 .... 16,997,543 20,113,289 October 14 17,203,825 20,076,799 .•October 21 17,334,538 20,228,632 October 28 17,371,820 20,200,951 Record bank-note issue was £20,228,632 at October 21, 1940. ADVANCES TO STATE. .Advances to the State for purposes other than for the Primary Products Marketing Department on June 6, 1938, were £300,000; January 2, 1939, they were £11,000,000. During 1940 the advances have increased almost week by week. 1940. . £ ' January 1 20,230,000 April 1 19,310,000 August 5 21,860,000 . September 30 25,040,000 October 14 (record) ...... 25,140,000 COMPARATIVE RETURNS. Principal items in the weekly return at this time last year, compared with those for this week, are as follows: — Oct. 30, Oct. 28, 1939. 1940 £ £ Bank-notes 17,371,820 20,200,951 Demand Liabilities— State 2,899,6:>7 (5,354,845 Banks 13,211,920 13,283,071 Other liabilities .. 161,597 2,146,577 )ther currencies 10,091 11,865 )ther liabilities 594,238 848,650 Ttold 2,801,830 2,801,852 ■Sterling exchange .. 5,743,087 8,929,403 Vdvances marketing . 6,462,351 2,866,371 Vdvances State 16,775,000 25,140,000 nvestments 3,619,792 3,771,720 '.atio per cent 25.367 27.913

FRIDAY, NOVEMBER I, 1940. Buyers. Sellers. £ s. d. £ s. d. N.Z. Govt. Stocks— 3 p.c., 15/7/1939-41 09 15 0 — SV 2 p.c, 15/1/63-57 .. 100 17 fi — 4 p.c. 35/3/1940-43 100 17 6 — 4 p.c, 15/2/43-46 — 103 0 0 4 p.c, 30/11/1948 .... 104 10 0 — 4 p.c, 15/6/52-55 105 5 0 — Govt. Bonds— 3 p.c, 15/7/1939-41 ... 99 15 0 — 3V 2 p.c, 15/1/53-57 .. 100 17 6 — War Loan, 1/10/53 — 80 0 0 Local Body Debentures— New Lynn 4% p.c, 1/9/67 — 104 0 0 Other Debentures— Amalg. Brick (Wgtn.), 6 p.c, 31/3/44 100 10 0 — Banks— Comtn. of Aust. (ord.) 0 15 0 National of N.Z. ... — 2 0 0 New South Wales * 28 12 6 — New Zealand * 2 1 0 2 1 3 New Zealand D Long Term * 1 8 0 1 9 0 Union of Aust. — 7 10 Financial— Equitable Bldg. Co.. 5 p.c. Perp. Deb. Stock 0 14 6 — Nat. Mortgage (A) — 1 18 0 National Mortgage (B) .. — 13 0 N.Z. Guarantee Corp. .. 0 2 8 — Wgtn. Invest. T. & A. .. — 0 9 6 Wgtn. Trust Loan .... — .500 Wright, Stephenson (pref.) 0 19 6 — Gas— Auckland (10s fully pd.) 0 7 9 — Chrls'tchurch (contrib.) . — 0 11 3 Wellington (ord.) 1 12 0 — Wellington pref.) .... 12 3 — InsuranceNew Zealand — 310 South British — 2 8 6 Meat Preserving— N.Z.'Refrig. (10s) — 0 9 5 Transport— Huddart, Parker (ord.) . — 2 14 0 Union Steam (pref.) .. 16 0 — P. and O. Defd. Stock — 13 6 WoollenBond's Hosiery Mills .. 17 0 1 10 0 Felt Textiles ■ (rights) .. 0 12 3 — Manawatu 1 0 0 — Timaru — 0 16 0 Wellington (pref.) .... 6 17 6 , — Coal— Westport — 1 3 6 Timber— Le.vland-O'Brien ._.... 0 14 0 — Botoiti — 0 4 0 Taringamutu ...* 0 13 3 — Taupo Totara (ord.) .. — 0 5 0 Taupo Totara .(pref.) .. 0 10 5 — Breweries — N.Z. Breweries 1 11 9 1 12 3 Swan 1 0 9 — Queensland — 1 5 3 Miscellaneous— Aust. Consol. Industries! — 1 19 6 Broken Hill Pty t 2 5 0 2 5 9 Colonial Sugar t — 52 0 0 (Jonsol. Brick & Pipe .. — 0 7 11 Electrolytic Zinc (ord.) . — 2 15 3 Electro. Zinc (8 p.c. part pref.) — 2 17 3 Farmers' Trading — 10 3 General Industries .... — 0 18 d G. J. Coles — 3 11 0 MacDutfs (ord.) 0 10 8 — MacDuffs (pref.) 0 17 6 — McKenzie's — 256 Moturoa Oil — 0 4a Moturoa Oil (pref.) .... — 0 4 3 National Electric — 0 18 0 N.Z. Newspapers 1 11 6 1 12 3 R. & E. Tingey (pref.) — 13 6 Taranaki Oil Fields ... — 0 6 2 Taranaki Oil Development, 4s pd — 03 9 Woolworths, Ltd. (ord.) . — 0 18 3 Woolworths Properties (prefd. ord.) — 15 9 MiningGrey River — 0 17 0 Maori Gold — 0 ° 4 Waihi Investments ... 040 — Australian— Mount Lyell — 1 10 6 Overseas Listings— Woolworth Holdings (South Africa) , 0 13 5 — UNOFFICIAL LIST. Buyers. Sellers. £ s. d. £ s. d. Assoc. Gold Dredges, 10s 0 10 6 - — Scoullar and Co 0 7 0 — Todd Motor Corporation (pref.) — 1 2 X Wellington Publishing .. — 3 15 0