COMMERCIAL
RESERVE BANK RETURN
CHANGES ON THE
WEEK
LIABILITIES REDUCED
Movements in the weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, January 13, 1940, are shown hereunder:—
The bank-note issue continues its seasonal decline and for the week in review it was down by £345,670 to £22,116,826, compared-with £18,722,259 at January 15, 1940. Sterling exchange at £11,271;957 (New Zealand currency) is down oh the week by £613,110, not quite so much as the decline last week, which amounted to £615,530. However, sterling exchange at January. 15, 1940, was £6,865,421, so that this year the holding shows an increase of £4,406,536. Liabilities in currencies other than New Zealand currency, amounted to £1,396,687 last week; this liability has now been reduced to £32,158 and may synchronise with the discharge of maturing Government debt in London. The statement of the assets and liabilities is all in New Zealand currency, including sterling exchange, and is as follows: — LIABILITIES. £NZ c. d. £NZ General Reserve 1,500,000 0 0 Unchanged Bank-notes .... 22,116,82610 0 t345,670 Demand LiabilitiesState 6,457,922 10 5 1584,845 Banks 14,092,468 15 3 "1,266,522 Other 543,016 17 11 *294,87S Currencies other than N.Z 32,158 4 2 f1.364,529 Other liabilities . 986,418 4 11 f7,400 £NZ45,730,811 2 8 t741,046 ASSETS. £NZ S.d. fiNZ Reserve— -' ' : . ■ • ■: . Gold ...... 2,801,859 10 0 Unchanged Sterl. exchange 11,271,957 3 10 t613,110 Subsidiary coin 59,314 7 1 *9,575 Advances to StateMarketing .. 2,978,301 4 10 t1G2,270 Other purposes 23,690,000 0 0 Unchanged Investments ... 3,770.595 18 3 Unchanged Other assets ... 1,158,782 18 8 *24.759 £NZ45,730,811 2 8 t'41.046 t Decrease. 'Increase. Proportion of reserve (reserve less liability in currencies other than New Zealand currency) to notes and other demand liabilities 32.495 per cent., compared with 31.211 per cent, for the week ended January 6, 1941. The statutory limit is 25 per cent. 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: — iy4o • bsz January 1 7,036,750 December 2 8,693,277 December 30 12,500,598 1941. January 6 11,855.,068 January 13 11,271,957 Principal items in the weekly return at this time last year, compared with those for this week, are as follows:— Jan. 15, Jan. 13, 1940. 1941." £ £ Bank-notes 18,722,253 22,116,826 Demand liabilitiesState 3,064,921 6.457,928 Banks 12,991,241 34,092,469 Other liabilities .. 180,098 545,017 Other currencies .. 7,993 32,158 Other liabilities 754,479 956.418 Gold 2,801,839 2,801,859 Sterling exchange ... 6,805,421 11,271,957 Advances marketing . 3,556.834 2,978,301 Advances State .... 20,610,000 23,690,000 Investments ....... 3,042,181 3,770,596 Ratio per cent 27.630 32,495 LOCAL EXCHANGE RATES. The Bank of New South Wales quoted teleiraphie rates of exchange nn overseas centres as follows:— On. . «uyin«. Selling New Vo:K— Hols, to £N2 3.2542 3.2050 Montreal—Dols to £HZ . 3.6039 8.5260 Greece—D chrnae to £NZ — 412.70 lava—Florins to £NZ .. 6.187 6.004 lion? Kong—NZ d. to dol. 18% 19 1-32 Inrllfi. Ceylon—NZ d. to rupee 22 5-32 22 49-64 Manila —NZ i Ito peso ... 6.559 6 442 Shanghai—NZ d. to dol. .. — 5 7-64 Singapore— NZ d. to dol. 34 41-64 35 41-64 AUSTRALIAN SHARE PRICES. (By Telegraph—Press Associatinu—t'npyricht.) SYDNEY, January 16. The Stock Exchange today lost most of its upward impetus. Prices were inclined to settle around late rates. Sales.—Mt. Morgan, 11s 6d; New Broken Hill, 13s lid; Bank of New South Wales, £27 16s; Morris Hedstrom, 19s; Colonial Sugar, £48 2s 6d; Howard Smith, 22s 6d; Stirling Henry, 10s 6d; Tooheys, 29s 4£d; Goldsbrough Mort, 26s 10£ d; Associated News, 13s 8d; j Adams, 14s lOd; Cumberland Paper, 32s 3d; Anthony Hordern, 13s 3d; Aust. Cons. Industries, 27s 4£d; British Tobacco, 50s 3d; Electrolytic Zinc, 53s 9d. MELBOURNE, January 16. Electrolytic Zinc (pref.), 565; Broken Hill Proprietary, 45s 9d; Argus (pref.), 21s 3d; Metropolitan Gas, £13 12s. SILVER AND TIN. (By Telegraph—Press Association—Copyright.) LONDON. January 15. Price of Silver.—Standard, 23$ d per oz; fine, 25 l-16d per oz| Price of Tin.—Spot: Buyers, £256 15s per ton; sellers, £257. Forward: Buyers, £259 ss; sellers, £259 10s. WELLINGTON TRUST LOAN. The Wellington Trust, Loan, and Investment Company, Ltd., has advised the Stock Exchange Association that the directors recommend a final dividend of 2J per cent, on the paid-up capital (making 5 per cent, for the year) for the half-year ended December 31. GREY RIVER RETURN. The Grey River Dredging Co., Ltd., reports for the week ended January 15 a return of 2780z from 87,310 cubic yards worked in 123J hours. FOREIGN EXCHANGES. (By Telegraph"-Ires!. assihmjiiiuii — t'o;iyr>Kht.i LONDON, January 15. Today's closing rates for foreign exchanges in relation to sterling are aa follows:—New York, dols. to £. 4.03; Montreal,, dols.. to £, 4.45; Lisbon, esc. to £, 110.25; Athene, drac. to £, 436; Stockholm, knr. to £, 16.90; Geneva, francs to £, 17.35; Calcutta, d. to rupee, 18; Hong Kong, d. to dollar, 15: Shanghai, d. to dollar, 3 33-64; Buenos Aires, d. to peso, 17.965; Kobe. d. to-yen, 14 21-32. GOLD DREDGING RETURNS. Returns of gold dredging companies as received this week are as follows :— - . . Hours. - Oz. dwts. i Grey River 197 537 6.] Rimu Flat 173 215 2 Clutha River 92 45 0 Molyneux IS3 192 0
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Bibliographic details
Evening Post, Volume CXXXI, Issue 14, 17 January 1941, Page 12
Word Count
848COMMERCIAL Evening Post, Volume CXXXI, Issue 14, 17 January 1941, Page 12
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