THE MONEY MARKET.

New Zealand Herald, Volume LXVII, Issue 20656, 30 August 1930, Page 7

THE MONEY MARKET.

J3ANK OF ENGLAND. GOLD HOLDING HIGHER. MARKET RATE LOWERED. (Received August 29, 5.5 p.m.) LONDON, August 28. Tho Bank of England return for the week ended August 27 is as follows: ISSUE DEPARTMENT. Notes issued: — Govt,. debt £11,015,100 In circu- Other Govt. laliou £300,808,170 securities 232,892,001 Iu bank- Other secujng dept. 53,971,431 rities .. 11,028,088 Silver coin 4,-103,011 * £200,000,000 Gold coin (V bullion 154,839,001 £414,839,001 £114,839,001 •Amount of fiduciary issue. BA N KIN G DE P A RTM EN T. Capital .. £14,553,000 Govt, secuRcst .. 3,681,377 rities .. £19,141,217 Deposits— Advances, Public .. 18,172,078 £0.459.075 Hankers, Other 5een£(•,2,599.815 ritics. Other nes., £22,187,201 28.010.870 £3,'1,798,7,'12 90,398,517 Notes .. 53,971,131 Seven day, (iold and etc., bill? 2,017 silver coin 1,048,095 £132,807,040 £132,807.049 The principal items of the nbove return compare as follows with those for last week, the proportion of the reserve being show n in the last line : Deposits— August 20 August 27. Public .. £21,015,499 £18.172,078 Hankers . .'. 01.005.31i9 02,599.815 Other accounts 33,594,351 33,798.732 £110,305,219 £ 111.571,225 SecuritiesGovernment . . 49.371,247 49.141.247 Advances, etc. . 0,114,545 0,459,075 Oilier . .. 25.434,151 22,187,201 Keservo '. . . 5a,r,74.mi 55.019,52t; Note circulation , 3r,1,791,084 aon.Biw.l7o "Coin and bullion 155,305.515 155,887.096 Proportion . . . 40.00 48.00 * August 28, 1929, £137,033,077.. .1930: Maximum. May 7. £104,502,391; minimum, January 1, £146,115,719. SHORT LOANS ANI) BILLS. The Bank of England rate of discount is 3 per cent., to which it was reduced on Alav 1 front per cent. Short loans are quoted at 2 per cent., same as last week. The market rale of discount for best, three months' bills is 2 1-16 per cent., as compared with 2 13 64 per cent, last week. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, compared with tho cabled quotations on August 26

CONSOLS AND COLONIAL STOCKS. The following table gives quotations foi consols and colonial inscribed .stocks, com oared with those of August 21 Price. Variation

THE PRICE OF GOLD. Gold is quoted at 85s per oz. MONEY FOR INVESTMENT. (lieceived August '2O. 9.15 p.m.) LONDON. August 29

The Daily Express says it foresees tlie end of depression. It. declares that the city is choked with money awaiting in. vestment. BANK OF AUSTRALASIA. INTERIM DIVIDEND. LONDON. August 2?. The Bank of Australasia has declared an interim dividend of 14 per cent., free of tax. DUNEDIN CITY LOAN. £50.,000 IN DEBENTURES. [BY TELEOTt APH, —OWN CORRESPONDENT. ] DUNEDIN, Friday. Tlu> Dunedin City Council is issuing 51 per cent, debentures for tho purposes of tho Drainage Board, with a term of 12 years. Of the £50,000 required, about one-half has been subscribed. Tho city treasurer expects that, the whole of tlie sum will have been obtained shortly. WAIOMO CONCENTRATES. SHIPMENT OF 100 TONS. ATler running for threo months, the new battery at Puhoi has produced 100 tons of concentrates for tho Waioino Sulphide Corporation, Limited. It. is understood that the concentrates will bo shipped by the Golden Cross to America, but it is not certain whether tho concentrates will be treated in America or whether they will finally go to Europe. Actually this is Ihe first try-out by tho battery at the old Zeehan mine. Tho oro is taken by aerial lino and runs through the machinery by gravitation, tho oil flotation process being tho last procedure. Tho result is regarded as gratifying and the product is rich in minerals, including gold and silver. PUKEKOME HORSE FAIR. [llY TELEGRAPH. —OWN CO Till ERPON 01" N'T. J PUKEKOHE. Friday. Tliero was an u-erage ynrding of horses at tho fair at Pukclnho to-day conducted by Alfred Buckland ard Sons. Ltd. Best heavy young draught horses brcughl from In £35: best farm horses, 1 1o inrdium-weight farm norses. i'l.-* to i''.'t; biilehcrn' mid milk enrt b'.'raes, £l7 lo i:i:I; hacks, £G to £l2,

and par:— Aug. 28. Aug. 26. Par. Montreal, dol. .. 4.8H 15-32 4.801 4.80G Kew York, dol. . 4.87 4.87 i 4.800 Paris, fr. .. 123.775 123.775 124.21 Brussels, helga .. 34.81 34.825 35.00 Geneva, fr. 25.(1.1 25.05 25.22 Amsterdam, fl. .. 12.0r5 12.0S5 12.10 Rome, liro .. 9-2.1)75 92.975 92.40 Berlin, r.m. r.. '20.3!) 20.39 20.43 Stockholm, kr. .. 18.105 18.11 18.159 Oslo, kr. .. 18.1(15 IS.17 18.159 Copenhagen, kr. v 1S.15_ 18.105 18.159 Vienna, hc-Ii. .. 31.455 31.155 31.585 Prague, kr. .. 10-1 l-JO 104$ 24.02 ilelsingforR. mark 103 15-32 Madrid, pes. .. -45.('.5_ 193 15-32 45.05 192.23 25 225 108.25 Lisbon, cscu. 108.25 — Athens, dr. •.. 375 Bucharest, lei. .. 81(1.5 375 810.5 375.00 25.225 j<io do Janeiro, mil. 4 9-10 4 11-10 47.57d ISd Buenos Aires, dol.. 401 40 9-10 Calcutta, rupee . .17; 17J Shanghai, tael .. 18$ 18; — Hongkong, dollar 15 11-10 155 — Yokohama, yen . 243 24 23-CI 2l.58d 12.lt) Batavia, tl. .. 12.08 —

£ s. d. A. d. ' Con.enK 25 per cent. .. 30 0 0 5 Of (•'undine Loan. 4, 1900-90 92 O G 12 Gt War Loan. 5. 19-29-17 .. 101 0 0 bnme. Conversion Loan, 3i 78 0 0 ,'3 0 u Victory Bonds, 4 .. 95 17 B* Commonwealth, 5. 1045-75 92 17 g 32 Ot Commonwealth, 0, 1931-41 1(10 0 c, 17 :io Gf Victorian. 3. 1929-49 .. GO 0 0 + Victorian, IH. 1929-49 71 10 0 22 G+ Victorian, 51, 19:10-40 98 10 0 20 Of Victorian, 5. 19:12-42 93 15 0 35 SO 01" Victorian. 4i. 1940-00 8-1 12 G 0+ Now South Wales. 4, 3933 95 7 G 5 0+ New South Wales. 3, 1935 88 5 0 5 Of N S.W., 3|, 19:10-50 (19 17 6 r>o of X S.W., 51. 1922-32 99 15 0 7 fit X S W.. (>!, 1930-40 100 17 0 bHine. X.S.W., 0. 1930-40 100 o G 17 tit Queensland, 5, 1940-60 .. 91 7 G 22 f)+ Queensland, 3, 1922-47 .. 06 5 0 25 Of Queensland, 0, 1930-40 .. 99 10 0 15 ot New Zealand, 41, 194S-5S 94 7 G — - New Zealand. 3i, 1940 .. 89 17 G 7 0* New Zealand, 3. 1945 82 0 g 2 G* New Zealand. 0, 193'-.-:)! 104 12 g 2 Gf South Australia. 3L 1939 84 7 g 17 Gt S. Aus., 3. 19K1 or after 53 *2 g borne. S. Australia, 0J, 1930-10 100 17 g 5 0 + Tasmania. 31, 1920-40 82 0 0 1 :u Tasmania, 3. 1920-10 SO 2 g 7 Gt Tasmania, OJ, 1930-40 101 1 .T 1 .'U W. Australia. 31, 1929-35 91 0 0 45 0+ W. Australia, 3. 1915-35 88 7 i; 7 G* W. Australia, 0, 1930-10 100 0 0 15 Of t Higher. "Lower.