THE MONEY MARKET

New Zealand Herald, Volume LXIX, Issue 21296, 24 September 1932, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN ~ < INCREASE IN DEPOSITS I NOTE CIRCULATION DOWN b . N LONDON, Sept. 22 The Bank of England return for the week ended September 21 is as follows: — Ji ISSUE DEPARTMENT Notes issued:— Govt, debt £11,015.100 a) In circu- Other Govt. lation £359,265,055 securities 250,53d,081 In bank- Other seciling dept. 55,155,558 rities .. Silver coin: 3,811,4)8 *£275,000,000 Gold coin & bullion 139,42},213 £414,421,213 £411,421,213 •Amount of fiduciary issue. , BANKING DEPARTMENT I Capital .. £14.553.000 Govt, secu- P Rest .. 3,681,146 rities .. £70,998,094 v Deposits— Advances, Public .. 23.915,204 £12.005.785 Bankers, Other 5ecu£82.580,050 rities, ~ Other acs., £18,526,871 30.532,650 s £32,904,327 115,490,377 Notes .. 50.105.008 S Seven day,' Gold and S etc., bills 1,285 silver coin 9»4,<04 f ~ I £157,6-11,012 £157,641,012 £ I TJae 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— Sept. 14 Sept. 21 Public .. .. £12,932.853 £23.915.201 Bankers .. .. 89.327,311 82,586,050, Other accounts . 33,156,535 32,904,327 j £135,1)10,699 £139,405.581 c Securities — £ Government .. 70,863,094 t Advances, etc. .. 12,052,097 '2.005,785 » Other .. .. 18,300,964 18.526.871 Reserve .. .. 52,936,896 56.110.262 g Note circulation .. 362,284,819 c Coin and bullion 140, '221.715 140,375,917 Proportion .. 38.90 40.20 } SHORT LOANS AND BILLS a The Bank of England rate of discount J is 2 per cent, to which it was reduced on June 30 from per cent. Short loans are quoted at | per cent, same as las', week. The market rate of discount for best three months' bills is 21-32 per cent, as compared with 23-32 per cent, last week. CONSOLS AND COLONIAL STOCKS

The following table gives quotations for consols and colonial inscribed stocks, com- _ pared with those of September 15: Price. Variation. Consols. 2J per cent 73 10 0 20 Ot Funding Loan. 4, 1900-90 110. 0 0 17 Gt War Loan, 5. 1929-47 . 102 2 6 Same Conversion Loan, 3i . . 99 0 0 57 6 Victory Bonds, 4 r • ■ ]O7 10 0 25 0+ Com'wealth, 5, 1945-7o ~ 103 5 0 10 0 Com'wealth. G. 1931-41 . 101 5 0 10 Ot Victorian, 3. 1929-49 . „ 79 15 0 27 6t Victorian. 3i. 1929-49 . . 85 0 0 22 Gt Victorian, SJ, 1930-40 . . 100 1 3 8 9 Victorian, 5, 1932-42 . 100 2 G 12 oj Victorian, 4i. 1940-60 . . 100 lo 0 -I 3t NS W 4. 1933 . . . . 100 7 6 7 Gt : N S.W., 3, 1935 . . . . 95 15 0 15 Ot N.S.W., 34. 3930-50 . . 84 12 6 32 bt N.S.W., 53, 1922-32 . . 102 2 G 2 6t NSW., GJ, 1930-40 .. 101 7 G 12 Gt N.S.W., G. 1930-40 . . 102 5 0 10 0t , Queensland, *5, 1940-60 . . 100 15 0 1- 6 Queensland. 3, 1922-47 . . 40 0t Queensland. 6, 1930-40 . . 101 0 0 5 Ot New Zealand. 44. 1948-58 103 2 6 7 6 New Zealnnd, 3i. 1940 .. 96 12 6 50t New Zealand, 3. 1915 . . 87 15 0 2- Gt New Zealand. G. 1936-51 105 12 G 12 6t S. Australia, 35. 1939 . . 94 0 0 Same. S. Aus., a. 1916 or after 70 5 0 5 0 S. Australia. GL 1930-40 . 101 10 0 5 Ot Tasmania, 34, 1920-40 ..92 15 0 10 Ot Tasmania. 3. 1920-40 . . 88 0 0 Same. Tasmania. 61, 1930-40 . . 102 0 0 5 Ot W. Australia, 3£, 1929-35 . 98 0 0 3o Ot W. Australia, 3, 1915-35 97 0 0 35 Ot W. Australia. 6. 1930-40 . 101 10 0 22 6t t Higher. 'Lower. FOREIGN EXCHANGES, STEADINESS OF STERLING The following rates on foreign exchanges are current, compared with the cabled quotations on September 21 and par: — Sept. 22 Sept. 21 Par Montreal, dol. .. 3.85 3.8G5 4.866

New York, dol. . 3.46} 3.46} • 4.866 Paris fr. .. 88 5-16 88 9-32 124.21 Brussels, belga .. 24.95 24 29-32 35.00 Geneva, fr. .. 17.955 17.945 25.2. Amsterdam, fl. .. 8.6\ 8.615 Milan, lire .. 67.50, 671 92.4b Berlin, r.m. .. 14.540 14 17-32 20.4.! Stockholm, kr. .. 19.50 19.50 18.159 Copenhagen, kr. . 199-32. 199-32 18.159 -'»! §» |1 KS St. :: fl Athens, dr. . •• - 567.50 562.50 375.00 Bucharest, lei. .. J®.,, g 9 ' qc j RiodeJaneiro.mil. 5 3-lGt 5 3-161 5.8 Buenos Aires, dol. t * • Montevideo, dol. 30* d Bombay, rupee .. .18 5-32 18 5-3-Shanghai, tael .. 21, M| \ _ Hongkong, d(?l. . 16.-J , 24.58 d Yokohama yen 16.60 10* Batavia. fl.. -• f <SB 276.31 Belgrade, din .. 227.50 45.38 Warsaw, zlotys .. 30.SM ■f Nominal. CUSTOMS EXCHANGE RAT ES Rates of exchange ruling at the announced date of departure of the vessels named are shown in the following table. They are 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 clared rates being marked Canadian Challenger. Canada, dollars 4.04 City of Delhi, America, dollars Sydney Maru, Japan, yen .. •• • Waikawa. America, d ? llars , •* 34c} Golden Harvest, America, dollar. .. 3.4b» Australind, America, dollars a.|. Aorangi, Canada, dollars .. .. 3.

AUSTRALIAN STOCK EXCHANGES

YESTERDAY'S BUSINESS (Received September '23. 9-35 p.m.) SYDNEY, Sept, 23 On the Sydney Stock Exchange to-day the market was strong, embracing a wide ranee of business. Prices, with a few inconsequential exceptions, moved up.* This morning's sales were wealth 4 per cent bonds, 1938, 1941, £lOl 3s 9d; 1944, : £100; Bank of New South Wales, £3l 10s; Toohey's Brewery, 21s; T ° ot ' l „ Brewery, 34s lid; Goldsbrough-Mort, 28s 7id- Wichcombe-Carson, 24s 3d; Colonial Sugar, £54 12s 6d. „ r Sales this afternoon were:—Bank New South Wales, £3l 12s, 6dj Commercial Bank of Australia, l?s; Bank of Adelaide, £6 Is 6d; National Bank (£5 paid), £6 10s; Colonial Sugai, £54 15s, Adelaide Steam, 21s 10Jd; Mercantile Mutual Insurance, 19s; Victoria Nyanza, 17s 3d; Fairymead Sugar, 265; He Jones, 345; Goldsbrough-Mort 28s / 2 d, Winchcombe-Carson, 24s 3d; looth s Brewery, 34s 3d; Toohey's Brewery 21s; British Tobacco, 345; D ™ lo P„ P f"nr' 17s: Australian Glass, 44s Beilei, 9d; Mount Lyell, 245; Zinc Corporation, 31s- Broken Ilill Proprietary, 22s 6d; South Broken Hill, 51s; Commonwealth 4 per cent bonds, 1938, £101; 1944 £lOl ss; 1947, £100; 1950, £99 (3d7 1953. £100; 1955, £100; 1957 £IOO 10s; 1959, £lOl 3s 9d; 1961, £99 17s 6d. ... Melbourne sales were: Australian Glass 44s 3d; Dunlop-Perdriau, 16s lid; Herald and Weekly Times, 545; Commercial Bank of Australia, 16s 10d: Gordon and Gotch, 30s 3d; North Broken lIRI. 755; Souths. 51s; Taranaki Oil, 3s; Mount T.yell, 23s 9d.

PROPERTY SALE

A six-roomed villa in St. Andrews Road. Epsom, was sold yesterday by it. S< Newcomb, Ltd., for £SOO.