THE MONEY MARKET.

New Zealand Herald, Volume LXVII, Issue 20620, 19 July 1930, Page 7

THE MONEY MARKET.

BANK OF ENGLAND RETURN.

GOLD RESERVE LOWER.

MARKET RATE RAISED. (Received Jtdy 18, 5.5 p m.) LONDON. July 17. The Bank of England return for the week ended July 16 is as follows: ISSUE DEPARTMENT. Notes issued:— Govt., debt X1],015,100 In circu- Other Govt. liitinn £3fi5,120,700 securities 232,891 ,331 In hnuk- Other seening dept. 60,358.681 rities .. 11,029,018 Silver coin 4,404,548 •£260,000,000 Gold coin & bullion 155,479,281 iM 15,479,281 £415,479,281 "Amount of fiduciary issue. BA NK ING DEPA RTM ENT. Capital .. .€14.553.000 Govt, securest .. 3,510,477 rities £55,695,547 Deposits - Advances, Public .. 10,390,642 £6,217,583 Hankers, Other sec.U----£6:1,587,020 rities, Other nc?.. £20.391,747 20,009,330 £35,505,672 105.093,292 Notes .. 50,358,581 Seven day. Gold find etc., bill" 2,191 silver coin 892,147 £ 133,555,605 £ 133,555,605 The principal item? of the above return compare as follows with those for last week, the proportion of the reserve being shown in the last line:— Deposits—.Tidy 0. July 16. Public .. .. £9,204.370 f 10,390.042 Bankers .. 09,532,815 69,587,020 Other accounts 30,237,100 35.505,072 £115,031,297 .£ 115,489,934 Securities Government . . 51,125,547 55,695,547 Advances, etc. . 6,205,501 0,217,58!! Other . . . . 19.910,875 20,391.717 Reserve .. .. 52,781,828 51.250.72R Note circulation . 363,803,020 305,120,700 'Coin and bullion 150,585,454 156,371,428 Proportion . . . 45.80 44.20 •July 17, 1929, £159,282,000. _ 1930: Maximum, May 7, £104,502,391 ; minimum, January 1, £140,502,391. SHORT LOANS AND BILLS. The Bank of England rate of discount is 3 per cent., to which it was reduced on May 1, from 3A per cent. Short loans are quoted at 2 per cent., same as last week. The market rate of discount for best three months' bills is 2§ per cent., as compared with per cent, last week. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, compared with tho cabled quotations on July 15 and par:— July 17. July 15. Par. Montreal, dol. .. New York, dol. . 4.803 4.80J 4.800 Paris, fr. .. 123.53 1 23.62 1 24.21 Brussels, belga .. 34.805 31.815 35.00 Geneva, fr. .. 25.01' -'5.03 25.22 Amsterdam, fi. .. 12.08s 12.0!) 12.10 Home, lire .. 92.87 92.87 92.40 Berlin, r.m. .. 20.73- 20.385 20.43 Stockholm, kr. .. 18.091 18.10 18.159 Oslo, kr. .. 18.16J 18.10 18.159 Copenhagen, kr. . 18.16 18.16 18.159 Vienna, sch. .. 34.43 34.455 34.58$ Prague, kr. .. 164 1-10 164 24.02 Helsingfors, mark 193} 193} 192.23 Madrid, pes. .. 41.75 42.05 25.22J Lisbon, escu. .. 108.25 108.25 Athens, dr. .. 375 375 375.00 Bucharest, lei. .. 818 818 25.22$ Rio de Janeiro, mil. 5 13-32 5 15-32 Buenos Aires, dol. 40 17-32 40! 47.57 d Calcutta, rupee . 17 03-01 17 27-32 18d Shanghai, tael .. 17} 17$ Hongkong, dollar 15} "15! Yokohama, yen . 24 11-32 24S 24.58 d Batavia, fl. .. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of July 10: Price. Variation. £ s. d. s. d. Consols. 2} per cent. 55 17 0 2 Gt Funding Loan, 4. 1960-90 91 2 0 2 61 War Loan, 5, 1929-47 .. 103 12 0 7 Of Conversion Loan, 3$ .. 79 15 0 10 0t Victory Bonds, 4 . . 95 • 7 0 10 01 Commonwealth, 5, 1945-75 89 5 0 15 0* Commonwealth, 0, 1931-41 99 15 0 10 0* Victorian, 3, 1929-40 .. 64 0 0 10 01 Victorian, 3s, 1929-49 .. 09 7 0 2 01 Victorian, sj, 1930-40 .. 90 5 0 2 Of Victorian, 5, 1932-42 90 0 0 12 0* Victorian, 4J, 1910-00 .. 80 15 0 42 6* N.S.W., 4, 1933 .. 93 17 6 2 fit N.S.W., 3. 1935 .. .. 87 0 0 15 01 N.S.W., 3(, 1930 50 .. 08 15 0 Same. N.S.W.. SJ, 1922-32 .. 98 12 6 2 6* N.S.W., oi, 1930-40 .. 00 10 0 Same. N.S.W., 6. 1930-10 .. 08 5 0 40 Ot Queensland, 5. 1010-00 .. 87 2 fi 10 0* Queensland, 3, 1922-47 .. 03 15 0 5 0* Queensland, fi, 1930-40 97 7 0 17 0* New Zealand, 41, 1048-58 95 5 0 5 0* Now Zealand, 31, 1910 .. 89 15 0 8 91 New Zealand, 3. 19IS .. 81 12 0 10 01 New Zealand. 6, 1930-51 103 15 0 7 Gt South Australia, 3}, 1939 82 15 0 5 01 S. Alls., 3, 1910 or after . S. Aus., os. 1930-40 Tasmania, 31, 1920-40 80 5 0 15 01 Tasmania, 3, 1920-40 79 0 0 10 0" Tasmania, os, 1930-40 .100 0 0 30 01 W, Aus., 81, 1929-35 .. 87 10 0 Same. W. Aus., 3, 1015-35 .. 85 5 0 10 0' W. Aus., 0, 1930-40 ..' 97 5 0 15 0* tnigher. 'Lower. NEW YORK CALL MONEY. NEW YORK. July 17. Call money to-dav was at 2 per cent, all day. FROZEN MEAT MARKET. LONDON QUOTATIONS. Dalgety and Company, Limited, has received the following cablegram from its London house, dated July 17, regarding its frozen meat market:— Now Zealand Prime Lamb.—Canterbury, 281b to 361b, B>jd; North Island, 281 hto 361b, 8^1; Canterbury, 361b to 421b, B|d; North Island, 361b to 421b., 7|d; Canterbury, second quality, 7|d; North Island, second quality, 7id; Canterbury, 421b to 501b, North Island, 421b to 501b, 7Jd. The market for New Zealand lamb is weaker. The demand is moderate. New Zealand Prime Mutton.—Canterbury mutton, 481b to 561b, 4Jd; North Island, 481b to 561b, 4^d; Canterbury, 561b to 641b, 4^d; North Island, 561b to 641b, 4d ; Canterbury, 641b to 721b, 4id; North Island, 641b to 721b, 4d; Canterbury ewes, 481b to 641b, 2Jd; North Island, 481b to 641b, 2£d. The market for Now Zealand mutton is weaker. The demand is poor. Beef.—New Zealand prime ox beef, hinds sd, fores 3d: Argentine chilled hinds 6',d, fores 3d. The market for New Zealand beef is nominal. Pork. EngVish pork, 801b to 1001b, 9d; New Zealand porkers, 801b to 1001b, 7d, 1001b to 1201b 6Jsd. The market for New Zealand pork is nominal. The demand is poor owing to warm weather. MELBOURNE PRODUCE. MELBOURNE. July 18. The following arc to-day quotations on tho Melbourne produce markets:— Wheat.—4s Id to 4s 11d. Flour.— £ll to £ll ss. Brail and Pollard.—£7 ss. Oats.— 3s 4d to 3s s>d. Barley.—Unchanged. Maize.—6s.

PROPERTY SALF.S. A block of flats on n freehold section hnviug -101 ft. frontage to hotli Rnlmornl Road it ml Dunbar Road, Mount Kden, by a through depth of lil'2ft,, offered at auction yentol'd 11 y by William A. Ilorno, Limited, was sold for Biddini: started nt £175(1 and rose in £SO lota to the purchase figure. There was a fair attendance. A property of 1 rood 10.2 perches, with block of flats, nt the corner of St. Mark s lload and Mahuru Road. Remuera. offered hv T MrTndoe and Hons, realised £looo. and a property 715 ft, by 140 ft. with huildings in Queen Street, Onehunga, £-100. A seven-roomed house in HnyneVl Ronrl. Tlorne Bay. offered b.v Samuel Vnilo nnri Sons, Limited, was sold for * flvf ' roomed house in Auckland Road, Onehnnga. a. house in I'ifton Street, I'or.rnuby. and a building site in lln vcrsl(ick Road, Snndringham, wero bought in by tho mortgagees for £775, £713 and £l5O respectively.