Smaller Gain In Sterling Funds
[Per Press Association. Copyright .] WELLINGTON, This Day. The Reserve Bank return for the week ended Monday, January 23, was gazetted last night. The statement is balanced at £28,651,422, or £133,043 more than at the close of the previous week. The sterling exchange reserve has increased again, but only by £22.421, compared with a rise of £439,254 in the previous statement. A fall of £161,790 in advances to the Primary Produce Marketing Department is almost balanced by a rise of £130,000 in the level of those for other purposes. Government deposits are £11,679 lower than on the preceding Monday, while the holdings of the trading banks are £369,360 higher. The fall of the note issue from the holiday season peak continues, the decrease in this return being £291,736.
The proportion of reserve to notes and other demand liability at 26.695 is little different from that of the week before.
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Northern Advocate, 27 January 1939, Page 3
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153Smaller Gain In Sterling Funds Northern Advocate, 27 January 1939, Page 3
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