THE MONEY MARKET

New Zealand Herald, Volume LXIX, Issue 21332, 5 November 1932, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN PUBLIC DEPOSITS SHRINK RESERVE AT LOWER LEVEL LONDON, Nov. 3 The Bank of England return for the week ended November 2 is as follows: — ISSUE DEPARTMENT Notes issued:— (!ovt. debt £'11,015,100 In circu- Other Govt. la lion £361,472,01] securities 248,174,587 In bunk- Othersecuing dept. 52,950,083 nlies .. 12,002.519 Silver coin 3,807,794 *£275.000,000 Cold coin & bullion 139,422,094 £414.422,094 £414,422,094 'Amount of fiduciary issue. BAN KING DEPARTMEN T Capital .. £14,553,000 (lovt. securest .. 3,148,678 rities . £78,813,094 Deposits— Advances, Public .. 7,018,532 £11.953.7615 Bankers, Other 5ecu£102.671,840 rities. Other aca., £17,535,.793 29,489.559 £31,897,620 137,569,460 Notes 52,950,083 Seven day, Gold and etc., bills 1,395 silver coin 1,038,329 £162,291,065 £162,291,065 The principal items of the above return compare as follows with tlioso for last week, the proportion of reserve being shown in the last line. Deposits— Oct. 26 Nov. 2 Public .. .. £25,426,187 £7,018,532 Bankers . .. 77,335,612 102,671.840 Oilier accounts . 33,588,205 34,897,620 £136.350,001 £114,587.992 Securities— Government .. 66,998,094 78,813,094 Advances, etc. .. 11,596,729 11,953,766 Other .. .. 18,431,037 1 7.535,793 Keservo .. .. 57,010,441 53,988,412 Nolo circulation . . 358.430.512 3(51,472,011 Coin and bullion . 140,440,953 140,460,423 Proportion . . 41.80 37.30 SHORT LOANS AND BILLS The Bank of England rate of discount is 2 per cent, to which it was reduced on June 30 from po.r cent. Short loan's are quoted at 21 , C I" cent, same as last week. The market rate of discount for host three months' bills is 215-32 per cent, as compared with 13-16 per cent last week. CONSOLS ANI) COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of October 27: Price Variation £ad s d Consols 2J per cent . .78 0 0 40 01 Funding Loan, 4. 19(50-90 109 17 6 32 6t War Loan, 5, ' 1929-47 .. 102 7 6 Same. Assented War Loan, 3i . . 100 0 0 12 61 Conversion Loan, 3J . . 100 10 0 12 6+ Victory Bonds, 4 . . 109 0 0 15 01 Com'wealth, 5, 1945-75 . . 105 17 6 5 Of Com'wealth, 6, 1931-41 - - 101 o 0 5 <)1 Com'wealth, 31. 1936-37 . . 100 0 0 2 61 Victorian, 3, 1929-49 . . 88 10 0 20 0* Victorian, 5L 1930-40 . . 94 10 0 Same. Victorian, 31, 1929-49 . . 100 17 6 7 6* Victorian, 5, 1932-42 . . 100 7 6 Same. Victorian, 43. 1910-60 . . 102 12 6 3 9* N.S.W., 4, 1933 . . 101 5 0 Same. N SAW, 3. 1935 . . 99 0 0 7 6+ N.S.W., 35. 1930-50 . . 94 10 0 2 6* N.S.W., 64, 1930-40 . . 101 15 0 Same. N.S.W., 6, 1930-40 . . 100 5 0 Same. Queensland, 5, 1940-60 . . 103 0 0 7 6* Queensland, 3, 1922-47 . . 88 17 6 7 6* Queensland, 6, 1930-10 . . 101 17 6 3 9' New Zealand, 41, 1913-58 . 107 2 6 12 61 New Zealand, 3}, 1940 . . 100 2 fi 12 6+ New Zealand. 3, 1945 . . 93 0 0 Same. New Zealand. 6, 1936-51 . . 106 7 6 5 0* S. Australia, 31, 1939 . . 99 5 0 25 0+ S Ans , 3, 1916 or after 78 10 0 Same. S Australia. 61. 1930-40 . . 102 3 9 6 31 Tasmania., 31, 1920 40 . . 99 5 0 Si.me. Tasmania, 3. 1920-40 . . 92 15 0 75 01 Tasmania, 61, 1930-40 . . 103 5 0 17 61 W. Australia", 3?, 1929-35 . 99 7 6 2 6* W. Australia, 3, 1915-35 .98 5 0 5 0* W. Australia, 6. 1930-40 . 101 17. 6 Same. tHicher. 'Lower. Note.—The New South Wales 5} per cent issue. 1922-32. bavins: been repaid, no longer appears in the abovo list. FOREIGN EXCHANGES STERLING RATHER EASTER The following rates on foreign exchanges are current, compared with the cabled quotations on November 2 and par: — Nov. 3 Nov. 2 Par. Montreal, dol. .. 3.645 3.64 4.866 New York, dol. . 3.29} 3.305 4.866 Paris, fr. .. 83.75 84 1-16 124.21 Brussels, belga .. Geneva, fr. .. 17.07 17.130 J'*'" Amsterdam, fl. .. Milan, lire .. 64.25 64 9-16 92.46 Berlin, r.m. .. 13.845 1 3.925 -.0.43 Stockholm, kr. .. 19 1-32 19.0 a 18.159 Copenhagen, kr. . 19.20 19 7-3-Oslo kr .. Vienna, sell. .. 281 281 Prague, kr. .. 111.25 111.50 164,^5 Helsingfors, mark 230_ 230 Madrid, pes. .. 40 5-16 40 7-16 25.221 Lisbon, escu. .. 109.50 > 109.50 Atliens, dr. .. 580 080 ,175.00 Bucharest, lei. .. 583 5U> 813-6 RiodeJaneiro,mil. 5.501 5.00t 5.899 d Buenos Aires, dol. \ + 47.6119 d Montevideo, dol. 301 301 old Bombay, rupee .. 18 11-64 18 11-64 18d Shanghai, tael .. 21 3-16 —- Hongkong, dol. . 163 Yokohama, yen . 15 7-16 I'' 7-16 -I'^, Batavia. fl. .. 8.19 8.27 12.10 Belgrade, din .. 232.50 242.50 276.31 Warsaw, zlotys .. 29.u6 {Nominal. CUSTOMS EXCHANGE RATES 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 tho Customs Department when tho exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*:— Auatralind. America, dollars . . . . ■J-'joS Canadian Constructor, America, dollars 3.48 Canadian Constructor, Canada, dollars Brisbane Maru, Japan, yen . ■ • Brisbane Maru, Hongkong, dollars . . lb} Mariposa, America, dollars .. .. 3-39* Canadian leader, Canada, dollars . . 3.68* City of Adelaide, America, dollars . . 3.29J AMALGAMATED WIRELESS EST A BUSHING SERVICES At 1 lie annual meeting of Amalgamated Wireless (Australasia), Ltd., in Sydney, Mr. E. T. Fisk, chairman of directors, stated that •" various forms tho company bad been responsible for the distribution of at least £750.000 during the year. Tho company* had followed a consistent policy of establishing as many financially selfsupporting wireless services as possible in Australia and co-ordinating the work with the development and manufacture in Australia of all apparatus necessary for the services. It was essential for Australia to become, so far as practicable, self-contained. Tho maintenance of communication between Australia and tho heart of the Empire might in tho future becoino vital to the existence, not of the Commonwealth alone, but of the British Empire. Efficient and cheap overseas communication now made it possible to ring ii|) and speak by telephone with 90 per cent of the telephone subscribers in other parts of the world. NEW ZEALAND POUND VALUE IN CANADA OTTAWA, Nov. 3 The value of the Australian pound for Hie purchase of Canadian • money orders was reduced to-day to 3 dollars and that of New Zealand to 3 dollars 40 cents. P. AND O. DEFERRED STOCK LONDON, Nov. 3 P. and O. deferred stock is quoted at 10s bd, compared with 19s 7jd on October