RESERVE BANK RETURN

Evening Star, Issue 23094, 21 October 1938, Page 6

RESERVE BANK RETURN

STERLING EXCHANGE RESERVE AGAIN LOWER LEVEL NOW £9,118,329 The Reserve Bank return for the week ended October 17, gazetted last evening, shows a further decline in sterling exchange holding. At £9,118,329, it is £841,906 below last week s figure. , , . The proportion of reserve to notes and other demand liabilities is 52,27 per cent., compared with 57.903 per cent, in the previous week. The figures at the close of the previous week are given with this week s return for purposes .of comparison, shillings and pence being omitted: — LIABILITIES. Last week. This week. life 3 ‘ (a) em st n ate l,ab ’ 11 . t ‘ e . S .. ... 2,825,001 3,133,502 b Banks . 4,877,839 5.449,950 sc> oThor .;; ... 207.077 4. Time Deposits “ 5. Liabilities in currencies other than New Zea- n, m land cunencv 28,986 *4,^00 6. Other liabilities 149,327 X 00,9-3 Tota! £23,068.470 £24,433,392 ASSETS. 7 ' 2,801,791 2,801,791 (b) Sterling exchange 9,960,235 9,118,329 8. coi'rf ... 9. Discounts—(a) Commercial and agricu‘tural bills , (b) Treasury and local body bills ... ... 104 Advances—(a) T< State or State undertakings (iv Primary product Marketing Department 3.247,443 3,886,740 (2) For otnw purposes 4,600,000 5,560,000 (b> To other public authorities ... (c) Other 11. Investments 2,732,064 2,732,064 13. Bank buildings 13. Other assets ... 108,755 120,164 Total Proportion of reserve (No. 7 less No. 5) to notes . and other demand liabilities 57.903% 52.27% Sterling exchange is expressed in New Zealand* currency. FRUIT AND PRODUCE

GRANGE SHORTAGE RELIEVED RIPE BANANA SUPPLIES UNPROCURABLE Reilly’s report that business in the fruit and produce market during the week has been satisfactory. Good supplies of all lines have been received. Heavy supplies of apples are arriving including some very fine quality Delicious and Sturmers ex cool store. Demand and values however, are only fair. Dessert pears have a satisfactory inquiry. Increased supplies of Christchurch tomatoes are arriving, with small supplies of local-grown hothouse also on offer. Very heavy consignments of cut flowers are being received, and sales are rather difficult. Small transhipments of Californian grapes have been coming to hand,_ and meeting with a satisfactory inquiry. The Waitaki arrived to-day with a shipment of Australian oranges. Approximately 5,500 cases were landed at Dunedin, including the Oamaru and Timaru quotas. With this increased shipment, supplies should be sufficient for present requirements, although the market is absolutely _ bare at the present time. The Waitaki also brought a heavy shipment of pineapples which should meet with a good demand. . Supplies of ripe bananas are now unprocurable. The Maui Poraure is due in Lyttelton on Monday with a further shipment of green Nines and Samoans, and Dunedin supplies ex this boat are due on October 26.

Heavy supolies of lemons have been received, and values are lower. All linos of vegetables have been in fair supply. Cauliflowers are more plentiful, and values are slightly lower. Spring cabbage has a good inquiry, and increased consignments of choice quality lettuce have been coming to hand. Asparagus has been rather short of the demand, and values show an advance. Increased supplies of local-grown new potatoes have been arriving. Green peas are coming to hand from Nelson and Waimate. Smaller supplies of rhubarb are arriving, and values are slightly firmer. The first transhipment of _ Canadian onions is due. ex the Aorangi. at Dunedin on approximately October 27. Old potatoes are difficult to sell, although there is still a demand for the King Edward variety. Sales of seed potatoes are now practically finished for the season. Very heavy supplies of whitebait have been received during the week. Eggs.—Packing for export has now practically finished. There is a good demand for preserving purposes with no change in values, guaranteed being Is 3cl - ' „ . , Poultrv. —Fair supplies came to for tho weekly sale, with good values for all lines of table birds.