THE MONEY MARKET

New Zealand Herald, Volume LXIX, Issue 21344, 19 November 1932, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN INCREASE IN DEPOSITS SMALLER NOTE CIRCULATION LONDON, Nov. 17 The Bank of England return for the week ended November 16 is as follows: ISSUE DEPARTMENT Notes issued : Govt, debt £11,015,100 In circu- Other Govt. lation £359,397,172 securities 251,070,807 In bank- Other secuing dept. 55,024,922 rities .. G. 094,137 Silver coin 3,813,890 _ •£'275,000,000 Go'.d coin & bullion 139.422.004 £414,422,094 £414,422,094 "Amount •of fiduciary issue. BANKING DEPARTMENT Capital .. £14,553,000 Govt, secuRest .. 3,192,011 rities ..£08,563,375 Deposits— Advances, Public .. 20,447,320 £11.795,039 Bankers,' Other 5een£82.199.930 litieß, Other acs., £17.478,480 29,273.525 £33.198.157 U5.098.057 Notes .. £55,024,922 Seven day, Cold and etc., bills 1,075 silver coin 1,029,077 £153,891,499 £153,891,499 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— Nov. 9 Nov. 10 Public .. .. £20,427,030 £20,447,320 Bankers .. .. 70,858,220 82,499,930 Other accounts .. 33,857,230 33,198,15'/ £134,143,080 £130,145,413 Securities— Government .. 08,053,293 08,503,375 Advances, etc. .. 11,799,151 , 11,795,039 Other .. .. 17,787,140 17,478,480 Reserve .. .. 54,233,245 50,054,59!) Note circulation .. 301,210.213 359,397,172 *Coin and bullion 110,443,458 140,451.771 Proportion .. .. 40.40 41.10 SHORT LOANS AND BILLS The Bank of England rate of discount is 2 per cent, to which it was reduced on June 30 from 2g per cent. Short loans are quoted at J per cent, samo as last week. The market rate of discount for best three months' bills is 13-16 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, compared with those of November 10: —

CITY MARKETS FRUIT AND FIELD PRODUCE

STRAWBERRIES BACKWARD Indications that the strawberry crop this year does not promise to be a heavy one are contained in the fact that supplies at the City Markets arc not increasing as rapidly as anticipated. The continuance of dry weather and cool nights is one of the primary causes in retarding the crop. Yesterday prices of Captain Cooks- were firm at Is 3d to Is 9<l a chip, as against Is to Is lid earlier in the week. Marguerites were dearer at is to Is 4d, a rise of 3d to 4d, while Helensleas were also slightly stronger at lOd to Is 3d. Hothouse tomatoes also registered improved levels, the week-end demand, no doubt, having a stimulating effect. Top prices were a penny a lb. better than on Tuesday. Low values continued to rule for grapefruit, and lemons and bananas also shaded from 23s to 22s a case for choice. Repacked dessert pears met with good sale at slightly stronger rates, and there was a fair demand for oranges. Other lines were steady. A marked decline in new .potatoes was the chief feature of field produce. Owing to heavy supplies prices weakened from 3s to 4s a bag on Tuesday to Is 6d to 3s a bag yesterday. Cabbage was also very plentiful and lower values ruled, while green peas, beans, marrows, rhubarb, cucumbers, and all seasonal vegetables wero in good supply. A fair demand was experienced and levels were fairly well maintained. A poor demand accompanied a heavy penning of poultry. Heavy cockerels alone found steady support, prices being maintained. For other lines easier conditions prevailed, especially for old birds, which were cheaper. Egg prices were steady. Yesterday's prices were: — FRUIT Strawberries, Captain Cook. Is 3d to Is Od a chip: Marguerites, Is to Is 4d; Helenslea, lOd to Is 3d; pears. Nellis, repacks, 0s to 12s; P. Barrys, Gs to 7s Gd; plums, green, 3s 0d to Is 3d; red, Gs Gd; cherries. Greytown, -8s Gd to 0s; oranges. Island, 18s to 21s; Australian vnlencias. 8s to 10s; grapefruit. local, 4s to Gs; tomatoes, hothouse, Gd to lOd a lb: tree tomatoes. Gs to 8s a case: pines, Island, 12s; grapes, Californian, 30s; bananas, choice. 225; No. 2 nnd medium, 15s to 20s; apples. Delicious, local, 5s to 0s; Doughertys, 4s to ss; Sturmers, 5s to 8s; Granny Smith. 5s to 7s Gd; Pride of Australia. 4s to Gs; Canadian Jonathan, 21s; lemons, 4s to Gs; red currants, about. Gd a lb; gooseberries, 3s to 4s 3d; mangoes, orange cases, 16s. FIELD PRODUCE Potatoes, new. Is Gd to 3s a bag: swedeß, Is to 2s; onions, 14s to 16s a case; kumaras, Tauranga. Gs to 7» a cwt; cabbages. Is to 2s a. sack; pumpkins. 7s to 14s a cwt; cucumbers. 3s to 5s a dozen; carrots. Is to Is Gd; parsnips. Is to Is Gd : beet, Gd to 9d: turnips. Id to Is 3d a dozen; radish, 6d to Ib: spring onions, 8d to Is Id a bundle; spinach, Gd to Is a dozen; leeks. 2d to 4d ft bundle; green p_eas. 5s to 8s 0d a bag; French beans, 6d~to lOd a lb; broad beans, 2s Gd to 3s 9d ft bag; marrows. 2s to 4s a dozen: lettuce, Is to 5s Gd a cuse; rhubarb, Is to 5s 3d a dozen; osparagus, Gd. to 8d a bundle. POULTRY Cockerels, heavy, prime, 3s Gd to 5s Gd each; not prime. 2s Gd ifpwards; light, prime, 3s to 4s; not prime. Is Gd upwards; fat roosters, heavy, prime, Is Gd to 2s: light, 9d to Is Gd; fat hens, heavy, Is 9d to 2s 3d; light, Od to Is Gd; drakes, young, prime. Is 6a to 2s 6d; "smaller. Is upward: old, 9d to Is; ducks, young. Is Gd to 2s Gd; old, 9d to Is; cockerel chicks, heavy, 4d to 2s; light. Id to Is Gd ; day-old chicks. Black Orpington, 2d to 3Jd; Leghorn, 2d to 3Jd ; guinea fowli, 2s 6d to 3s. DAIRY PRODUCE Hen eggs, first grade, lOjd a, dozen; B grade, 9ld: C grade. 71d; duck egffs. 9Jd, SJd, CJd, Farmers' butter, fid to lOd a lb. NEW MINING VENTURE The Pursefiller Goldmining Company, Limited, has been formed to acquire and work an area of 60 acres at Kuaotunu, between Coromandel and Mercury Bay. The capital of the company is £12,000 in 240,000 shares of Is each. Of these, 145,000 are offered for public subscription.

1'rico Variation £ s d s d Consols, 21 per cont 71 10 0 5 0* Funding Loan, 4, 1960-90 107 0 0 10 0* War Loan, 5. 1929-47 . . 102 7 (1 Same. Assented Wnr Loan. 3J . 98 0 0 5 01 Conversion Loan, 3J . . Victory Bonds, 4 98 15 0 15 01 107 0 0 Same. Commonwealth, 5, 1945-75 104 2 G 12 6* Commonwealth, 6. 1931-41 100 17 6 2 6t Coni'wealth, 3J. 193(1-37 . 98 1G 3 15G 31 Victorian, 3, 1929-49 . . 85 15 0 15 01 Victorian, 5!, 1930-40 . . 91 10 0 7 6* Victorian, 3J, 1929-49 , . 100 o G 7 G* Victorian, 5, 1932-42 . . 100 0 0 Same. Victorian. 43, 1940-00 . . 101 10 0 5 0* New South Wales, 4, 1933 ini 5 0 Same. "New South Wales. 3,, 1935 97 0 0 2 6* N.S.W., 3j, 1930-50 . . 91 10 0 Same. N.S.W., C.J, 1930-40 101 15 0 Same. N.S.W.. G. 1930-40 100 5 0 5 0t Queensland, 5, 1910-G0 . . 101 17 n 2 G* Queensland, 3, 1922-47 . . 84 7 6 22 6* Queensland, 0. 1930-40 . . 101 12 6 10 0* "New Zealand,. 41, 1948-58 107 2 G 5 0* New Zealand, 3J, 1940 . . 98 7 G 20 0* New Zealand, 3, 1945 . . 92 10 0 10 0* New Zealand. 6, 1936-51 106 10 0 5 0* South Australia. 35, 1939 98 17 6 2 0* S. Alls., 3. 1916 or after 77 0 0 20 0* S. Aus.. Gi. 1930-40 . . 101 17 fi 5. 01 Tasmania, 3}, 1920-40 , . 98 5 0 15 0* Tasmania, 3, 1920-40 . . 94 0 0 Same. Tasmania, 61, 1930-40 . . 102 10 0 15 0+ 12 G+ W. Aus.. 34, 1929-35 .. 99 5 0 W. Aus., 3, 1915-35 97 7 6 2 6* 5 01 W. Aus., G, 1930-40 102 5 0 'Lower.