THE MONEY MARKET.

New Zealand Herald, Volume LXIX, Issue 21100, 6 February 1932, Page 5

THE MONEY MARKET.

BANK OF ENGLAND RETURN. LARGER NOTE CIRCULATION. AUSTRALIAN STOCKS DEPRESSED. LONDOy, Feb. 4. 'lTie Bank of England retain for ihe week ended February 3 is as follows: — ISSUE DEPABTMXXT. Notes issuedGovt, debt £11,1)13,100 In cireu- j Other Govt. ]g.tion £347,665,986 wwuntiea 316,554,110 In Other secaiss dept. <5,23e,544 TStiwi 13.MG.889 Silver coin 3J53.0G1 •£275.500.0G0 Gold coin AbolHen 130.T84J30 £395,764430 £395.764 ,&30 'Amount of fiduciary iaro*. BAXEIXG DEPABTMEXT. Capital .. £U.oS3,m\ Govt. seen. B-est -- 3.574,837 rities .. £40,700.306 iieDosits— Adv^ncef, Public .. 14,801,950 £13,534,499 Bankers, Other aera£77,425,791 rvties. Other acs., £40,120,127 63.754.625 £32.345.330 110.171.151 >7otes .. 45.095.644 Sevt-E - day. G-old and etc-, bills 1.22-3 silver coin 548,046 £'43.102,222 £143,102,222 The principal items of the aho re return compare as follows with those for last week, the proportion of the reserve being shown in the last line —- DtTiofsiTs — Jan. 27. Feb. 3. Public •• .. £15,321.152 £14.801.980 Banker* - . . 74,304,019 77,325,751 Other accounts . 5H.208.09R 32,545.390 £127.833,259 £124.973.151 Securities Government . . 45.31f1.9W 40,700,901 -Vdva uc-es, trie. ... 32346.728 53,534,499 Other . . , . 37,196,207 40,130.127 Eewrvc .. _ .. 50.45J.2f8 t«&46,f>90 Xc'« circulation . 345.fff>g.S70 347.fi65.9g0 Coin »*»d Bullion 131.349.fi33 121.312.G73 I'roOTrtioi? - ' 33.40 36.90 SHORT LOANS AND BILLS. The Bank of England rate of discount is 6 per cent., to which it -was increased on September 21 from 4£ per cent. Short loans arc qaoted at 4£ per cent., compared with 4i per cant., last week. The market rate of discount for best three months' bills ia 5 per cent., as compared with 5g per cent, last week, CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of January 28

Price. Variation, £ a. 4. a. tl. , Ceaso?*, '25 per cent. . . 55 19 0 ? 6" Fnndin? Louii. 4. 19MVS0 87 5 0 5 0" War Lean. 5. 39*23-47 . . 99 2 6 2 G* Ccarewioa Loan. 3j .. 76 SO 5 Of Victory Bene?. 4 . . 34 0 0 Same. ComVesitji. 5, 194,"-73 .. 79 0 0 3D 0* Ccro'weahb. 6, 1331-41 ..?WOO 140 0* Victorian, iaC3-4n . . 57 15 0 35 0* Victorian, SI, 1923-49 .. 82 15 0 5 f . Victorian. 54, 1930-40 . . 85 0 0 40 0 s Victoria»!. 5. 1932-42 . , 75 10 0 107 fi a Victorian, 41. J940-00 . . 71 10 0 65 0" rc s.w., i, Mxs ..moo iso o*' X.S.W.. 3. 1335 . . 7Q o 0 120 <3X.S.W.. 31. 15130--SO . . 59 0 0 35 0* N.8.W.. s:, 1922-12 . . scia o iw «* ; K.S.W., 64. 1930-40 .. 84 M 135 0" N.S.W.; 6. 1930-40 . . SI IS 0 145 0* Queensland, 5, 1940-IXI . . 75 0 0 82 6* Queensland, 3, 3922-47 .. 58 0 0 10 0* Queensland, 6, 1930-40 . . 85 12 6 102 6* ' y«\v Zealand, 41. 1945-58 82 17 6 133 6* ] Sew Zealand, 35, 1940 . . 78 5 0 12 6' jTcsv Zetlgsid, 3, 1945 . . 67 5 0 30 0" Jfew Zealand. 6. 1930-51 99 10 0 20 9* S. Australia, 34, 1939 . - 69 15 0 25 Ot S. Australia, 3, 1910 ox titer .. ■ ■ ..46 a<3 20 0* S. Australia. Gh 1330-45 91 0 0 50 *>' Tasmania. 31, 1930-40 ~ 68 0 0 , 30 9* TWBMBS 3-, 1920-40 .. 62 2 6 17 S* Tsrowriit. Si, 1930-40 . . 94 10 0 10 0* vFjtosteuUs, 3i. 1929.35 79 10 0 20 0' IV. Australia, 3. 1915-35 . 71 0 0 70 0^ W. Australia. 6, 1939-40 - 88 ® ® ® THicber. 'Lower. lE* aiv. FOREIGN EXCHANGES. STERLING EATHER FIRMER. The following rates on foreign exchanges \W*re current yesterday, corspared with the cabled quotations on February 2 and P ar ~ Feb. 3. Feb. 2. Par. ; Montreal, dol. .. S.flfi 3.95 4J68 2Ce-w York. dutl- . 3.455 3.451 -4.SGC Paris, fr. .. 57,75 S7 IMC 124.21 Brussels. belga .. 24.75 24 1(£1S -35-08 Geneva. fr. .. IT-70 1 -;"5 25.22 t Amsterdam, &- 5.505 5_5§5 i lire .. > G'.oO 9—4£ Berlin. r.m. .. 14 17-32 14 3-16 20-43 j Stockholm, kr. .. 1.13-16 1-r J? - , 1 ??' Oslo, kr, .. IS-£ 16; 15.159 , Copesaaffen. kr. . 1H 18* IS.M* j Vienna, »cjj. .. 32 3_ «»4JiSS Prague. k+- .. 115.50 116.< a i Heisinsfcrs. mark 225 129-23 j Madrid, pes. 44 1-16 44 Lisbon, eecu. .. ■ Athens, dr. . - 270 - p*-® Bucharest, lei. .- 530 r D „rrs ; Bio d« Janeiro, miL 4.2 a 4.2 a Buenos Airs#, del. 39.75 39« Montevideo. del. 31 31 V~i Bombay, rape# .. IS 9-32 1S 3-64 led . Shaasfeai. tael .. 21 13-1 C 23* ■ Hciiskcms, doL . 17 j 5-3- 16, , ' , Yokohama, yen . 24.75 24.50 -4.5& d ButsTia, fi. ®"S2 S.u_ I—lo CrSTQMS EXCHANGE EATER Rates of ascbangft ruling at the announced dat# of departure of the vessels named are shown in the following table. They ara subject to coiifirmation by the Customs Department when tie exact time of departure is learned on the arrival of the vessels in New Zealand, finally declared rates being marked*:— Brisbane Mam yen . - .. *24-50 Hongkonc .. . . *l<l Manila, daL . • - '3.40 City of Lincoln. U.S.A. . . .. 3.39 Wairtma, U.S.A. . . - • • • Canadian Hichlander. Cannda .. 4-03 Cs-naciia.n -•"Conqueror. Canada. , . 3.33 NEW COMPANIES. SOUTHERN REGISTRATIONS. The following private companies have been registered" in Southern centres RedsKme Motors. Limned. Gisbcrr.e, motor proprietors. Capital. .£2OOO in £1 shares. Subscribers: L. H, R1995 shares; H. A. E. Redstonej 5 shares. Robertsons. Limited, Southland, general merchants and drapers. Capital, £l/50 in £1 shares. Subscribers: A. Robertson, 1749 shares: H. M. Robertson, 1 share. Greens Rialto, Limited, Gore, auctioneers and general scents. Capital, £2OOO in £1 share?. Subscribers; C, J. McEachran, 1000 shares; J- L. Richards, H3OQ ahares. Te Puke Motors, Limited, motor rage proprietors. Capital, £2OOO in uharea. Stttecribers; M- Eamson, Whakatane. 1000 shares; E. J. Ramaon, T# Puke, 1000 shares. duties on pollard. BASIS OF EXEMPTION. Arising out of difficulties in the classification of pollard and wheatmeal for customs pansoscs, invostijiaftiGßa been conducted by th» CnKto»»; Department. which has given ti«> ruiint; to the New Zealand Poultry A^ssociaiian sia® be a by-urodttct cbtauped (merely by sifting) froei wJwat gristed for the production "Of flour and shall comply willt the following conditions: —11) li shall contain less than three-parts per centum by weight of ash, and .lot less than five and three-quarter parts per centum by weight of crude fibre; and (2) when 200 grammes of the material are shakssn on a sieve consisting of SXX flour silk: measuring 14in, x 14in. for one minute in a mechsnicai shakt-r, or for two minute-s by hand, not more than 70 gi'ammes of the sample shall pass through the si'?ve, "Pollard which complies with tile afcove definition viil, until farther notiea. be admitted from all countries free of any duty whatever."