THE MONEY MARKET.

New Zealand Herald, Volume LXVII, Issue 20602, 28 June 1930, Page 9

THE MONEY MARKET.

BANK OF ENGLAND RETURN.

GOLD RESERVE HIGHER.

SHORT LOAN RATE RAISED. (Received June 27, 5.5 p.m.) .LONDON, June 26. Tho Bank of England return for the week ended Juno 25 is as follows: — ISSUE. DEPARTMENT. Notes issuedGovt, debt i 11,015,100 In v=ircu- Other Govt. lation £358,531,877 securities 232,893,998 In bank- Other secuingdept. 58,350,001 rities .. 11.628.881 Silver coin 4,402,021 '£200,000,000 Gold coin & bullion 156,881,878 £416,881,878 £416,881,878 'Amount of fiduciary issue. BANKING DEPARTMENT. Capital .. £14,553.000 Govt, sccuRest .. 3,385,313 rities .. £48,855,517 Deposits— Advances, Public .. 21,50-1,850 £15,899,101 Bankers, Other 5ecu£03,770,222 rities. Other aCB., £15,340,231 31,239,392 £36,113,707 99,889,989 Notes .. 58,350,001 Seven day. Gold and etc., bills 3,200 silver coin 891,412 £139,330,352 v £139,330,352 Tho principal items of tho above return compare as follows with those for last week, tho proportion of tho reserve being shown in tho last line:— DepositsJune 18. Juno 26. Government .. £10,577,010 £21,504,850 Bankers .. f8.331.534 63,770,222 Other accounts 35,687,253 30,113,767 £110,590,397 £121,391,839 Securities— Government .. 40,475,547 48,855,547 Advances, etc. 7,093,791 15.899.1fil Other .. .. 10,640,653 15,340,231 Reserve . . .. 58,242,318 59,241,413 Note circulation 359,247,209 358.531,877 "Coin and bullion 157,489,527 157.773.290 Proportion . . 52..60 48.70 ♦Juno 20. 1929, £163.908.000. 1930: Maximum. Ma 7 7, £161,502,391; minimum, January 1, £146,502,391. i SHORT LOANS AND. BILLS. Tho Bank of England rate of discount is 3 per cent., to which it was reduced on May 1 from 3£ per cent. Short loans are quoted at 2\ per cent., compared with 2 per cent, last week. The market rate of discount for best three months' bills is 2 5-16 por cent., as compared with 2 15-32 per cent, last week. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with thoso of June 19:—

NEW YORK CALL MONEY. NEW YORK, June 26. Call money for renewal to-day roso to 2 per cent, and at the close was per cent. MARKET REPORTS. FRUIT AND PRODUCE PRICES. Large slocks of apples arc being sold at the Auckland City Markets, while fair supplies are still being received from the orchards. Delicious apples met yesterday with a very poor demand. Short stocks of bananas reulised tho increased rate of 25s to 34s a case. Larger quantities of pears were marketed, there being no improvement in tho prices. Offerings of hothouse grapes are rapidly decreasing, while the quality, is becoming poor. There was a good inquiry for choice lemons, while oranges sold readily. A shipment of Australian fruit will arrive next Tuesday. Adequate stocks of all lines of vegetables in season were offered and met with a fair response. Cabbage, cauliflower, lettuce and celery were in heavy supply. Thero were again no outstanding changes in the values. A good demand existed for moderate supplies of poultry. The prices remained about level with tlioso realised at the preceding sale. Guinea fowls solds at 4s to 5s each. The for the six grades of hen and cluck eggs remained unchanged. Special grado hen eggs are selling at 2s 9d a dozen and duck eggs at 2s 8d a dozen. Duck eggs wore not plentiful, whilo thero were good stocks of hen eggs. Farmers' butter sold at the reduced rato of lid to Is Id a-pound. Following are yesterday's prices:— FRUIT. Apples: Dclicioui), ex cooler, 5s to 7s Cd a cnsc; Ballurats, 5s to 7a; Munroes, -Is Cd to 5s Gd; Parlins Beauty, is Gd to 5s Cd; Stunners. 5b to 7s (id'; Granny Smith, lis to 10s; Jonathans, 5s Cd to 7s Gd; Doughertys, 3s 6d to Gs Gd; Homo Beauty, 5s Gd; Salome, 6a to Gs Cd; penrs, Coles, t's to tis Gd; Nellis. Cs Gd to Oa; P. Barrys, 5s to Gs Gd, Betirro Bosco, -Is Gd to ( ! s; tomatoes, hothouse, Gd to 101 d per lb., outdoors, 3a to iOa a case; grapes, hothouso, Is to 2s per lb.Australian whites, 24s a caso, passion fruit, -Is to 9s; mandarins, 8s to 15s; lemons, choice and No. 1, .29 to 18s; others, Gs to 10a; grapefruit, local, Gb to 7a Gd, Bpecial pack, 10s; poormans, small, 8b Cd to 5s Gd; larger, Gs to 7s; tree tomatoes, 3s to 7s; oranges (according to count), 10s Gd to 153 Gd; bananas, ripe, No. 1, 25s to S-in: mediums, 22s upwards. FIELD PRODUCE. Potatoes, oouthern, Gs Gd to 7s per cwt.: onions, 5s to 7s; kumaras, Tauranga, i)a Cd to lis, local, 8s to '4B a bag; cabbage. 2s to 7b a sack; cauliflower, 3s to 7s; swedes, la Gd to 2s Gd u bag; pumpkins, 3b to 5s per cwt.; citron melons, 14s to lGs; beans, hothouse, 9d to Is 3d per lb.; others, 5s to 10a a bag; lettuce, Is to 5s I case; cucumbers, hothouso, 3s to 5s 6d a dozon; vegetable marrows, Is fid to 2s: cabbago, on benches, 2s to 3s Gd; eauliflowor, on benches, 2s to 7s; celery, r-d to 2s Gd a bundle: rhubarb, 3s to 4s ,a dozen; spinach, Gd to 1b; pumpkins, ou benches, Gd to 2s each; radish, Gd a dozen; spring onions. Gd <o Is a bundle; carrots, parsnips, beet and turnips, 8d to Is a dozon; leeks, 3d to Gd a bundle; chokos, Is. to 2s a dozen. POULTRY. Cockerels, heavy breeds, prime, 5s to 7u each; not prime, 3s Gd to ss. light, prime, 3s to sa; not prime, 2s upward; fat roosters, heavy primo, 3a 3d to 4a 3d; light, 3a Cd to 4a; fat hens, heavy, 8s Gd to -Is Cd; light. 2s Gd to 3s 3d; pullets, heavy, best, 4s to Gs Gd; emailed, 2s upward; light, best, 4s to.Gs Gd; Binallor, 2s upward; drakai, young, primo, 3s to 4s; smaller, 2s Gd upward; old, 2s to 3b; ducks, young, 3s to 4s; old, 2s to 3s; geese, 4s Gd to 5s Gd; Turkey liena, Gs Gd to 10s; gobblers, 10s to 18s Gd; Guinea fowls, 4s to 6s. DAIRY PRODUCE. Hen eggs, best quality, special grado, Ds 9d a dozen: A grade, 23 7d; B grade, 2s sd; C grade, Is 7d; duck eggs, special grade. 2s 8d; A grado, 2s 7d; B grade,'2s 4d; C grade, 1b Od; farmers' butter, lid to Is Id per lb.

Prico Variation. £ S. d. s. d. Consols, 2J per cent. .. 55 0 0 15 Ot Funding Loan, 4, 19G0-9O 90 0 0 30 Ot War Loan, 5, 1929-47 .. 103 0 0 10 Ot Conversion Loau, 31 77 15 0 lo Ot Victory Bonds, 4 94 10 0 Same. Com'wealth, 5J, 1922-27 .. 86 0 0 7 6* Com'wealth, 6, 1931, 41 99 2 6 5 0t Victorian, 3, 1929-49 .. 62 0 0 Same. Victorian, 31, 1929-49 65 17 6 17 61 Victorian, 51, 1930-40 .. 95 15 0 5 0" Victorian, 5, 1932-42 .. 87 0 0 5 0* Victorian, 4?, 1910-60 81 0 0 5 0" N.S.W., 4, 1933 91 15 0 5 01 N.S.W., 3, 1935 .. 84 10 0 2 6+ N.S.W., 31, 1930-50 . 64 10 0 7 6" N.S.W., 5}. .1922-32 .. 97 10 0 Same, N.S.W., 61, 1930-40 100 0 0 2 6t N.S.W., 6, 1930-40 96 7 6 7 6* Queensland, 31, 1930 .. 100 0 0 Same. Queensland, 3, 1922-47 . . 61 10 0 10 0' 7 6* Queensland, 6, 1930-40 . . 93 0 0 New Zealand, 41, 1949-58 94 5 0 Same. 5 Ot 5 Ot New Zealand, 31, 1910 .. 89 0 0 Nflw Zealand. 3, 1945 .. 80 0 0 New Zealand, 6, 1936-51 105 10 0 5 Ot R. Australia, 31, 1939 . . 80 0 0 Same. S. Australia. 3, 1916 or after 50 10 0 40 Ot S. Australia, 6}, 1930-40 . 99 15 0 2 6* 5 0* 10 Ot Tasmania, 31, 1920-40 .. 79 10 0 Tasmania, 3, 1920-40 78 0 0 Tasmania, 61, 1930-40 100 0 0 20 0* 27 6t W. Australia; 3i, 1929-35 . 87 7 6 W. Australia, 3, 1915-35 . . 8-4 0 0 7 6* 30 Ot W Australia, fi, 1930-40 .. 96 10 0 tHigher, 'Lower.