COMMERCIAL.

Lyttelton Times, Volume CXVII, Issue 17788, 13 May 1918, Page 7

COMMERCIAL.

BRITISH FINANCE. . BANK OF ENGLAND RETURNS. By Telegraph—Press Association-Copyright. Australian and N.Z. Cable Association. LONDON, May 10. Tho Bank of England returns for tho week ornled Wednesday, May 8, arc as follow

BANK OF ENGLAND RATE. The Bank of England discount rate was raised from 3 per cent to 4 per cent on July 30, 1914, to 8 pec cont on July 31, and 10 per rent on August 1; was on August 6 lowered to 6 per cent. and on August 8, 1914, to a per cent, at which rate it remained until July 12, 1916, when it was raised to 6 per cent. On January IS, 1917, it was lowered again to 5J per cent, and on April 5 to 5 per cent. OPEN MARKET RATES. The open market discount rate for throe months’ bills is 3i per cent, unchanged- since last week. At this dato last year tiro quotation was 4J per cent. Short loans are quoted at 3J por cent, compared with 3 1-10 per cent last week. At thin dato last year the quotation was 4J per cent. GOVERNMENT SECURITIES. Tho following aro tho latest quotations for Government securities, compared with tho prices ruling last week:— Last This

May 8, May 10, 1918. 1017. ff Coin and bullion . . . 60,751,000 4/ 52,777,000 llcservo . . 30,001,000 ■31,715,000 Notes in circulation . It),633,000 38,721,000 Deposit liabilities . 131,933,000 173,519,000 Proportion of reserve! to liabilities per cent 16.13 20.01

Week. Week. Imperial conso’a, 21 p.e. 531 £01 War loan. 5 p.c. 91-J 931 War lean, 34 p.c. . 87 871 New Zealand 4 p.c., 1029 85 85 1 New Zealand 3J p.c., 1940 7S| 73} New Zealand 3 p.c., 1943 021 022 N.S.W. 4 p.c., 1938 82 h 824 N.S.W. 31 p.c., 1920-30 . 09,1 70 N.S.W. 3J p.c., 1918 . 100 1001' N.S.W. 3 p.c., 1935 . 701 70? Victoria 4 p.c,, 1929 971 9S3 Victoria 3k p.c., 1921-25 . 86.1 87Victoria 3J p.c., 1929-40 . G9ii ■ 09} Victoria 3 p.c., 1929-40 . 623 62} Queensland 4 p.c , 1918-25 911 91} Queensland 34 p.c., 1921-30 891 80T Queensland 3 p.e., 1922-47 02 02} South Australia 3J p.c., 1939 721 73} South Australia- 3} p.c., 1918 5CU 57 W. Australia 3} p.c., 1915-33 73 75} W. Australia 3 p.c., 1915-35 ■m 6S} Tasmania 3J p.c., 1920-40 713 721 Tasmania 3 p.c., 1920-40 . 03 63