COMMERCIAL

Grey River Argus, 3 August 1940, Page 11

COMMERCIAL

STOCK EXCHANGES WELLINGTON, August 2. Sales reported: Four per cent, stock, 1949, £104; Bond’s Hosiery 26s 6d. RESERVE BANK RETURN CHRISTCHURCH, August 2. Sterling exchange held by the Reserve Bank at the close of business on Monday was £13,027,476, or £86,291 more than in the previous week. Advances to. the State for marketing were £356,209 lower at £3,616,074, but those for other purposes were £lOO,OOO higher at £21,600,000. The note issue, at £19,623,435, showed a further expansion of £131,073. Demand liabilities to the State had increased by £285,137 to £5,156,356, but those to the banks had risen by £140,448 to £16,746,366. There was a rise’ in other demand liabilities of £65,294. The bank’s return, with changes from last week in parentheses, is as follows (X denotes increase and — decrease): —

Liabilities

(1) General reserve fund, £1,500,000 (same); (2) Bank notes, £19,623,435 (X£131,073); (3) demand liabilities—(a) State, £5,156,354 (—£285,137); (b) banks, £16,746,366 (X£140,448), (c) other, £265,579 (X£65,294i); (4) time deposits, nil (same); (5) liabilities in currency other than New Zealand currency, £8429 '(—£708); (6) other liabilities £724,591 (—£142,021); total. £(N.Z.)44,024,756 (—£91,051). Asset?

(7) Reserve: (a) Gold, £2,801,840 (same); (b) sterling exchange, £13.027,476 (X£B6,-291); (c) gold exchange, nil (same); (8) subsidiary coin, £140,129 (—£13,977); (9) discounts: (a) commercial and agricultural bills, nil (same); (b) Treasury and local body bills, nil (same); (10) advances: (a) to the State or State undertakings: (1) Marketing Department, £3,616,074 (—£356,209); (2) for other -purposes, £21,610,000 (X£100,000); (b) to other public authorities, nil (same); (c) other, nil (same); (ID investments, £2,543,804 (same); (12) bank buildings, nil (same); ’(13) other assets, £285,431 (X£92,843); total, £(N.Z.)44024,756 (—£91,051).

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 37.856 per cent. (37,695 per cent, last week).