THE MONEY MARKET.

New Zealand Herald, Volume LXIX, Issue 21153, 9 April 1932, Page 7

THE MONEY MARKET.

BANK OF ENGLAND RETURN. INCREASE IN DEPOSITS. AUSTRALIAN STOCKS WEAKER. LONDON, April 7. Tho Bank of England return for the week ended April 6 is as follows: — ISSUE DEPARTMENT. Notes issued:— Govt, debt £11,015,100 In circu- Other Govt. lation £359,791,591 securities 234,386,666 In bank- Other secuing dept. 36,015,648 rities .." 25,796,898 Silver coin 3,801,336 *£275,000,000 Gold coin & bullion 120,807,239 £395,807,239 _ £395,807,239 *Amount of fiduciary issue. BANKING DEPARTMENT. Capital . . £14,553,000 Govt, secuRest . . 3,097,929 rifles . . £51,110,90G Deposits— Advances, Public . . 9,992,816 £12,164,130 Bankers, Other 5ecu£79,542,470 rities. Other tics., £40,910,277 53,074,407 £33,643,757 113,186.227 Notes . . 36,015,648 Seven day. Gold and etc., bills 1,110 silver coin 630,121 £140,831,082 £140,831,082 The principal items of the above return compare as follows with those for last, week, the proportion of the reserve being shown in the last line: — Deposits— March 30. April 6. Public .. .. £27,230,726 £9,992,816 Bankers . . 54,565,819 79,512,470 Other accounts . 34,381,270 33,643,757 £116,177,815 £123,175,043 Securities— Government .. 35,695,906 51,110,906 Advances, etc. . 11,725,366 12,164,130 Other .. .. 51,086,890 40,910,277 Reserve • . .. 35,902,657 36,645,769 Note circulation 360,529,134 359,791,591 Coin and bullion 121,431.791 121.437.3G0 Proportion . . 30.90 29.70 SHORT LOANS AND BILLS, The Bank of Eripjland rate of discount is 3£ per cent., to which it was reduced on March 17 from 4 per cent. Short loans are quoted at 2J per cent., same as last week. The market rate of discount for best three months' bills is per cent., as compared with 2 3-16 per cent, last week. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, corn-' pared with those of March 31:— Price. Variation. £ s. d. s. d. Consols 2} per cent. . . 60 12 6 2 6+ Funding Loan, 4. 1960-90 96 0 0 7 6* War Loan, 5, 1929-47 .. 102 10 0 5 Ot Conversion Loan, 3} . . 84 0 0 5 0" Victory Bonds, 4 . . 97 10 0 5 0° Com'wealth, 5, 1945-75 . . 88 15 0 15 0* Com'wealth, 6, 1931-41 . . 96 15 0 15 0* Victorian, 3. 1929-49 . . 61 10 0 5 0+ Victorian, 3}, 1929-49 . . 64 0 0 60 0" Victorian, 51. 1930-40 . . 88 0 0 20 0* Victorian, 5. 1932-42 . . 84 10 0 5 0" Victorian. 4f. T940-60 . . 79 5 0 15 0* N S.W., 4. 1933 . . . . 84 0 0 20 0« N.S.W., 3. 1935 . . . . 73 10 0 25 0" N.S.W., 35, 1930-50 . . 58 5 0 5 0" N.S.W., 53. 1922-32 . . 94 5 0 40 0 4 t N.S.W., 6|, 1930-40 . . 88 10 0 10 0* N.S.W., 6. 1930-40 .. 82 0 0 115 oat0 a t Queensland, 5, 1940-60 . . 83 10 0 20 0« Queensland, 3, 1922-47 . . 62 15 0 5 0+ Queensland, 6, 1930-40 . . 94 0 0 30 Ot New Zealand, 4*. 1948-58 89 10 0 12 6« New Zealand. 31. 1940 . . 84 0 0 5 0+ New Zealand, 3, 1945 . . 71 17 6 2 fi» New Zealand, 6. 1936-51 . 102 0 0 7 6+ S. Australia. 31. 1939 . . 74 10 0 30 0t S. Aus., 3, 1910 or after 50 0 0 12 6* K. Australia, 61, 1930-40 . 94 10 0 10 0* Tasmania. 35, 1920-40 . . 75 10 . 0 Same. Tasmania, 3, 1920-40 . . 70 0 0 Same. Tasmania, 61, 1930-40 . . 95 15 0 35 0* W. Australia. 31. 1929-35 82 10 0 30 o*t W. Australia. 3. 1915-35 . 76 0 0 30 o*t "VY. Australia, 6, 1930-40 . 92 15 0 5 0*

•fflisher. 'Lower. ,!Ex interest. FOREIGN EXCHANGES. LITTLE CHANGE IN STERLING. The following 'rales on foreign exchanges were current yesterday, compared with the cabled quotations on April 6 and par: — April 7. April 6. Par. Montreal, dol. . . 4.18 4.'20 4.866 New York, dol. .. 3.78} 3.80} 4.866 Paris, fr 951 96.25 121.il Brussels, belga > . '27 27} 35.00 Geneva, fr. .. 19 7-16 19 7-32 25.22 Amsterdam, fl. .. 9.345 9.3S 12.10 Milan, lire .. 73J 73| 92.40 Berlin, r.m. . . 15.95 10 20.43 Stockholm, kr. .. 18.90 18.75 18.159 Copenhagen, kr. . 18 5-10 18.20 18.159 Oslo, kr 19 3-16 191 18-159 Vienna, sch. . . 32 32 34.555 Prague, kr. . . 120 128.25 104.25 Helsingfors, mark 215 - '215 129.23 Madrid, pes. ..* 50 ■ 50? 25.221 Lisbon, escu. .. 110 110 110 Athens, dr. . . 300 300 375.00 Bucharest, lei. . . 637.50 G35 813.0 Rio de Janeiro, mil. 4 1-16 4 1-16 5.899 d Buenos Aires, dol. 36.75 36 13-16 47.R19d Montevideo, dol. . 29 30 51d Bombay, rupee . . 38.3-32 18 1-32 Ifid Shanghai, tael .. 20 7-10 20 7-16 Hongkong, dol. . 15 1-16 15 3-16 Yokohama, yen . '2ll 20J 24.5^d Batavia, fl. . . 9.43

CUSTOMS EXCHANGE RATES. Rates of exchange ruling at the announced date of departure of the vessels named aro shown in the following table. They aro subject to confirmation by the Customs Department when the exact time of departure is learned on the arrival of the vessels in New' Zealand, finally declared rates being marked*:— Rauraki, Canada, dollars . * .. 4.08 Sonoma, U.S.A., dollars .. .. *3.02 Sonoma, Honolulu, dollars *3.72 Sonoma, Canada, dollars .. .. 3.92 Aorangi, Canada, dollars . .. .. 4.15 Golden Cross, TT.S.A.,-dollars .. .. 3. 7 91 Brisbane Maru, Japan, yen .. 21id NEW COMPANIES. EIGHT REGISTRATIONS. The following companies have been registered in Auckland and Southern centres:— PUBLIC. Nokomai Gold Mining Company, Ltd., Dimedin, to take over tlie business of the Nokomai Sluicing Company. Capital, £65,000 in 260,000 shares of 5s each. Sub: scribcrs: G. W. Bowron, 11. D. Kerr, H. Al. Smith, E. J. Roche and V. H. Milner, 1000 shares each; 11. L. Gill and F. Goodwin, one share each. Waitahu Gold Mining Company, Ltd., Dimedin, gold miners, etc. Capital, £40,000 in 160,000 shares of 5s each. Subscribers: J. R. Fairbnirn, H. Halliday, A. Clark, A. Ellis, J. A. Mai howson, O. W. Bowron and \V. A. Mitson, ono share each. PRIVATE. Park, Davis and Company, Ltd., Christchurch, auctioneers and merchants. Capital. £4500 in £1 shares. -Subscribers: J. E. Shine, 2400 shares; H. C. Frampton, 1000 shares; W. Brown, 650 shares; G. Brown, 350 shares; R. C. Ishenvood, 100 shares. Nelson Suburban Bus Company, Ltd., Nelson, motor-bus and service proprietors, etc. Capital, £3OOO in £1 shares. Subscribers: S. A. Croucher, E. C. Russell and E. 11. Woods, 1000 shares each. Grimwood and Company, Ltd., Winton, general storekeepers, etc. Capital, £2500 in £1 shares. Subscribers: L. Grimwood. 2400 shares; M. Til. Grimwood, 100 shares. Killip and Jackson, Ltd., 1 Auckland, brass finishers and founders, plumbing and hardware merchants, etc. Capital, £2OOO in £1 shares. Subscribers: 11. H. Killip and A. D. Jackson, 1000 shares each. Dominion Spring and Engineering Company, Ltd., Auckland, iron founders, mechanical and experimental engineers, etc. Capital. £IOOO in £1 shares. Subscribers: F. E. P. Shorthand, 625 shares; K. Mills. 150 shares; G. Shaw, 125 shares; A. Mac Lean, 50 shares; J. Forrest and P. W.- Friend, 25 shares each. National Producers, Ltd., Auckland, manufacturers and dealers in toilet requisites. beauty preparations, etc. Capital, £SOO in £1 shares. Subscribers: J. E Wade, 490 share's; Marion Chapman, on® share.