COMMERCIAL

Grey River Argus, 5 February 1941, Page 2

COMMERCIAL

STOCK EXCHANGES. WELLINGTON, February 4. Sales: South British Insurance £2 i 10s 6d. Reported: South British Insurance £2 10s Gd; Southland Frozen i Meat £1 15s; Queensland Brewery £1 3s 9d. CHRISTCHURCH, February 4. Sale reported: New Zealand Breweries 335. A.M.P. SOCIETY. Mr. W. T. Ikin, Manager for New Zealand of the Australian Mutual Provident Society, has received advice from his Head Office in Sydney that the total new business for the year 1940 was £23,011,755 —Ordinary Department £16,927,963, Industrial Department £6,083,792. Of the above total over £22,740,000 was written in Australia and New Zealand. SOUTHLAND WOOL INVERCARGILL, February 3. The second wool appraisal for Southland was completed this even- | ing. Brokers' submitted catalogues I totalling 22,345 bales. The wool was again of excellent quality, some particularly well-grown halfbreds and Corrieclales being offered. Andrews and Dorricott, of Eyre Creek, topped the appraisal with four bales of halfbred at 18d, and 12 bales of Corriedale at 171 d. Another Corriedale clip, grown by H. P. j^cin-1 tyre, of Waikaia, realised 17d. Prices show little or no variation from those paid at the first appraisal. RESERVE BANK A further increase in the sterling exchange holding of the Reserve Bank of New Zealand is shown in the bank’s statement for the week ending January 27. The increase of £1,014,950 follows one of £1,072,532 in the previous period, and brings the total holding to £13,359,439. On the liabilities side, notes show ~ further recession, the amount being £106,539. Demand liabilities to lhe Stall’ have increased by £788,132, and to “others" by £562.130, and those to the banks have decreased by £253,469. The return, with changes from last week’s in parentheses, is (X denotes increase, — decrease): — Liabilities < 1 > General reserve fund, £1,500,000 (same); (2) bank notes. £21,824,947 (- £106,539); (3) demand liabilities: (a) State £7,794,513 (X£788,132); (b) banks, £l4 329,525 (—£253, 469); (c) other, £1,346,344 (X£562,130); time deposits, nil (same); (5) liabilities in other than New Zealand currency, £1.2.236 (—£4873); <6) other liabilities, £1 z ,038,759 (X&47.536). Total, N.Z.£45,026,325 (X£1,032,918). Assets (7) Reserve: (a) Gold, £2,801,876 (X£l4); (b) sterling exchange Chew Zealand currency), £13,'35:9',439 (X£1.014,950); (c) gold exchange, nil (same); (8) subsidiary coin, £57,415 (X£264>; (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, £3,241,162 (X£22,847); (2) for other purposes, £23.690,000 (same); (b) to other public authorities, nil (same); (c) other. nil (same); (11) investments. £3,770,596 (same); (12) bank buildings, nil (same); (13) other assets, £1 105.838 (—£5157); total, N.Z.£48,026,325 (X£1.032,918)

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities. 35.512 per cent. (34.01 per cent, last week).