RESERVE BANK

Evening Star, Issue 24006, 3 October 1941, Page 7

RESERVE BANK

THE WEEKLY STATEMENT (P.A.) WELLINGTON, October 2. The following is a statement of the assets and liabilities of the Reserve Bank as at the close of business on September 29-, —Liabilities.—

GENERAL IMPROVEMENT STANDARDS FIRMER The brighter tendency continued on the share market this morning, all sections showing an improvement. The inquiry for banks extended to Australasias, and the ordinary New Zealands recorded a slight rise. Standard Insurances, which changed hands at £3 2s fid yesterday, were sought again to-day in a close market. No business was done in Nationals either, although quotes were only 2d apart. They wore also sold yesterday. In the shipping section there were otters of Howard Smiths (prefs.) and ordinary Huddart, Parkers, but the demand was as usual for P.-aud O. Stock and U.S.S. (prefs.), in which a slight rise was recorded. Meats wero extensively quoted, with some buyers operating, and bids rose in New Zealand Refrigeratings, Southlands, and Waitakis. The usual solid buying support was accorded loan and agencies, and there was a firm inquiry for woollens, particularly Mosgiels. In the miscellaneous section Macduffs (prefs.) were firmer. In response to a steady bid holders of National Electrics reduced their limit to £1 4s fid. Stronger buying support for Paper Mills drew forth an offer 9d away, but there was no response to an improved offer for Wilsons Cement. Sydney Woohvorths were again asked for at 17s. SALES REPORTED, —Yesterday.— Bank of New Zealand, £2. National Insurance, £l. Standard Insurance, £3 2s fid. —On ’Change.— Bank of New Zealand, £2. —This Morning.— Hank of New Zealand (late), £2. Kaiapoi Woollen (ord.), 17s, Stockton (ord.), 2s fid (2). Wilson’s Cement, 19s 9d. AUSTRALIAN STUCK EXCHANGES SYDNEY, October 2. Wheat: Bulk, 3s llj-d; bagged, 4s 3|d. Flour, £l2 13s. Bfan and pollard, £6. Potatoes: Tasmanian, £10; others, £6 10s. Onions, £l2. Maize, 4s 3d. SYDNEY STOCK EXCHANGE Press Association—By Telegraph—Copyright SYDNEY, October 2. On the Stock Exchange leading industrials are generally steady and pastorals (inner owing to the bountiful rains. Colonial Sugar, £49 ss; Consolidated Industries, £2 8s; G. J. Coles, £3 4s; Dunlops, £1 2s lid; Mort’s Dock, £1; Goldsbrough, Mort, £1 7s; Wilcox, Moffliij, 10s 2d; Rawang, 8s lid; Larut, 8s 2d; Emperor, 12s Id; Loloma, £1 5s fid. NEW ZEALAND-GROWN ORANGES RECORD PRICES (P.A.) CHRISTCHURCH, Oct. 2. Record prices were received for Kerikeri oranges which were auctioned on the Christchurch market to-day. One broker sold 27 bushel cases for from 38s to 41s. The fruit sold was of the Mediterranean sweet variety, and, according to a broker, was a credit to the grower. . Retailers eagerly pounced on the opportunity of securing New Zealand-grown oranges, as they had been suffering from short supplies for a long time. The last overseas shipment was received 10 days ago from South Australia, but it was a Rmalt consignment, and arrived in “ wasty ” condition, necessitating repacking,

Sept. 22. Sept. 29. £ £ I. General Reserve Pund 1,500,000 1,500,000 2. Bank notes 22,337.847 22,251,460 3. Demand liabili(a) Stale 7,722,814 7,194,190 (b) Banks 10,319,702 9,254,423 (c) Other 762,845 863,268 4. Time deposits — — 5. Liabilities in currencics other than Now Zealand currencies ... ... 17,151 13,629 6. Other liabililies 1,218,801 989,976 Total £43,879,162 £42,046,950 —Assets — 7. Reserves— (a) Gold 2,801,874 2,801,874 (bl Sterling exchange 15,991,722 14,747,968 (c) Gold exchange — • 8. Subsidiary coin 44,944 46,297 9. Discounts— (a) Commercial and agricultural bills ... — — (b) Treasury and local body bills ' — 10. Advances— (a) To State or State undertakings— (1) Primary Produce Markcting Department 6,687,383 6,538,714 (2) For other purposes 12,500,000 12,500,000 tb) To other public author!ties — (c) Other 2 ... 200,000 11. Investments 3,822,858 3,822,858 12. Bank buildings — 13. Other assets ... 1,830,378 1,589,235 Total £43,879,162 £42,046,950 Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities 45.637 p.c. 44.347 p.c. Sterling exchange is expressed in Now Zealand currency.