TRADING BANKS

Evening Post, Volume CXXXIII, Issue 49, 27 February 1942, Page 7

TRADING BANKS

FREE DEPOSITS INCREASED

Returns of the six trading banks doing business in New Zealand v at the close of business on January 26. 1942, compared with returns for December 29, 1941, as furnished to the Reserve Bank of New Zealand, are as follows:—

LIABILITIES. Dec. 29. Jan. 26, £NZ. £NZ.

Demand liabilitiea In New Zealand .... 53,975,911 57.787,229 Time liabilities in New Zealand 28,980,396 28.953,768 Demand liabilities elsewhere than to N.Z. Inourred in respect of N.Z. business .. , 775,320 • 817,722 Time liabilities elsewhere than in N.Z. Incurred in respect of N.Z. business .. 341,952 172,910 N.Z. business excess of assets over liabilities 21,218,019 20,874,580 Total £105,291,604 £108.606,209 ASSETS. . Reserve balances held in Reserve Bank 10,719,282 14,401,833 Overseas assets in respect of New Zealand Duslnese— (1) In London ... 10,266,359 10,963,049 (2) Elsewhere .. 2,859,729 2,736.488 Subsidiary coin held 1 in N.Z. ~. 737,949 831,482 Advances in N.Z. .. 50,271,169 49,199,201 Discounts 207,122 128,072 Reserve Bank notes 4,396,606 4,621,930 Securities held In N.Z.— \ (1) Government . 23,039,437 22,903,243 (2) Other than Government .. 842,064 848,735 Value of land, buildings, furniture held in N.Z 1,951,887 1.972,178 Total ... £105,291,604 £108,606,209 Overseas aaaets In respect of New Zealand business held by the banks In London and elsewhere than in London for January for the past two years were:— . Jan. London. Elsewhere. Total. £ £ £• 1940 .... 8,973,230 2,067,353 11,040,583 1041 14,291,920 2,115,265 16,407,185 *542 10,963,049 2,736,488 13,699.537 For December, 1941, the total overseas assets of the trading banks amounted to £13,126,088. Free deposits, January 27, 1941, amounted to ' 252,115,417, and fixed deposits to £29,109,751. For December 29, 1941, the position was: Free deposits £53,975.911 and fixed deposits £28,980,396. Government, securities held by the banks at January 27, 1941, were £18,525,474; at December 29, 1941, they were £23,039,437. MILBURN LIME DIVIDEND. Directors of Milburn Lime Co., Ltd., Dunedin, have declared an interim dividend of 8d a share, payable March 25. ! MUTUAL LIFE NEW BUSINESS. I The Mutual Life and Citizens' Assurance '. Co., Ltd., advises that new business com- ' pleted by the company for the year 1941 was !as follows:—Ordinary branch, £6,111,615; [ industrial branch, £4,248,956, amounting in , all to £10,360,571. LONDON SHARES AVERAGES. (By Telegraph—Press Association Copyright.) (Bee. 8.30 a.m.) LONDON, February 26. "Financial Times" indices (1926 equals 100) :— . . Govt. Home Indus- Gold - see's, rails, trials, mines. Feb. 4 113.6 55.5 101.6 166.7 Feb 20 113.3 54.8 95.9 156.2: Feb. 24 113.3 54.8- 96.4 155.7 Veb 25 113.3 54.8 97.0 154.7 Feb. 26 113.3 54.5 97.0 155.0 Industrials, 1941: High. 105.9 ; low. 83.0. DOW JONES AVERAGES. (By Telei^aph-■• Press Association—Copyright.) (Kec. 8.30 a.m.) NEW YORK, February 26. Dow Jones (1926 equals 100) :—. 20 30 Shares Hulls. Indus, soid. Feb. 3 28.30 108.U!) 370.000 Feb. 20 27.56 105.1U 3:SO,0OO Feb. 21 27.09 l<)"».:{« 210.000 Feb. 25 27.58 105.01 340.000 Industrials, 1941; High. 113.. r,!i; low, 100.34 ; SYDNEY PRODUCE PRICES. (By Telegraph—Press Association Cuiiyrlnht.) j SYDNEY. February 26. Wheat, bran, and pollard prices are unchanged. Other quotations are:—Potatoes, Tasmanian, £17 a ton; onions, Victorian, brown. 14s (id h cwt; maize, yellow, 5s 4d a bushel. SHARES IN LONDON WEAKER. (B.\ I'eiuutiti'it 'I'russ vnNiii'iiiiiuii C<>|>.\' tylu LONDON, February 24. On rlie Stock Kxrlnmut uumatlons ol t)anl> , shares and othui corporaiion debentures anu stocks compare with previous quotations a^ follows :— Feb. 10. Feb. 24. Bunk Australasia ~ 5 0 0 410 0 E.S and A 2 15 0 2 6 3 Union of Aust 3 15 0 3 10 0 N.S.W. j 17 10 0 15 0 0 Nat. of N.Z 12 6 0 17 6 Bunk of New Zealand 15 0 13 9 British Tobacco .... 17 6 17 6 Goldsbro' Mort 0 16 3 0 16 3 Ualgety 4 0 0 3 15 0 P. and O Defd 1 7 4% 1 15 6 N.Z l>oiit! Hurl Merc (4 p.c. dob.) .... 75 10 0 71 10 0 N.Z Loan und Mere. (ord.) 21 10 0 21 0 0 On January 8 Bank of Australasias were quoted £0: Bank New South Wales. £17 10a; Union Bank, £4 10s; Bank of New Zealand. 27s 6d; Niitionnl Bank of New Zealand, 23s 9d. EGG MARKETING CONTROL. Poultry-keepers of Auckland -have adopted the following proposals:—That existing egg marketing regulations be fully enforced on producers sending oggs into the Auckland area from outside the area, especially in regard to licensing; that all producers within the area having 100 or more hens and selling direct to shops be required to take out licences, so as to make it possible to apply rationing to all producers equitably; that all surpluses be forwarded to the local merchants for disposal under the supervision of the Marketing Division; that the division take up with merchants the question of reducing commissions; and that these measures be for the duration of the war only. Grey River dredge return for weok ended February 20 was 152%0z for 121 hours and 89,371 yards, STOCKS AND SHARES. LTAN McCABB. ROBERTSHAW AND CO.. Members of Wellington Stock Exchange, Stock and Share Brokers, Bank of Australasia Chambers, 101 Customhouse Quay, Wellington. Tel. 43-220. Telegrams; ULTMA, Wellington.