THE MONEY MARKET

New Zealand Herald, Volume LXX, Issue 21414, 11 February 1933, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN INCREASE IN RESERVE TOTAL DEPOSITS LARGER LONDON, Feb. 9 The Bank of England return for the week ended February 8 is as follows: ISSUE DEPARTMENT Notes issued:— Govt, debt 1'11,015,100 In circu- Other Govt. lation £357,380,130 securities 255,330,118 In hank- Other seen- i ins dept. 44,827,261 rities .. 4,033.275 1 .Silver coin 3,712.507 *£275,000,000 : Gold coin & bullion 127,207,301 £402,207,391 £402,207,391 'Amount of fiduciary issue. ' BANKING DEPARTMENT 1 Capital .. £14,553,000 Govt, secu- ; Rest. .. 3,610,365 rities .. £90,308,315 Deposits— Advances. . Public .. 13,501,583 £12,146,508 Bankers, , Other secu- ■ £100.699,345 rities, i Other acs., £17.124,897 29,271.405 £32,760,882 133,466,227 Notes 44,827,261 Seven day, Gold and etc., bills 2,756 silver coin 726,950 i £165,133.931 £165,133,931 ■The principal items of the above return j compare as follows with those for last week, the proportion of the reserve being shown in the last line:— Deposits— Feb. 1 Feb. 8 1 Public .. £42,245,113 £13,501,583 Bankers .. .. 67,761,988 100,699,345 Other accounts .. 35,178,526 32,766,882 £145,185,627 £146.967,810 I Securities—• Government .. 80,378,138' 00,308,315 Advances, etc. .. 11,943,008 12,146,508 Other .. .. 17,700,761 17,124,897 Reserve .. 41,811.714 45,554,211 Note circulation 357,309.815 357,380,130 Coin and bullion 127.121.529 127,931,341 Proportion .. 30.80 30.00 , SHORT LOANS AND BILLS The Bank of England rate of discount | is 2 per cent,, to which it was reduced on June 30 from per cent. Short loans are quoted at J per cent, compared with I per cent last week. The market rate of discount for best- three months' bills is 27-32 per cent, as compared with § per cent last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of February 2: — Price Variation £sd s d Consols 2] per cent . . 74 0 0 20 0* Fending Loan. 4, 1960-90 . 110 0 0 Same War Loan. 31 . . . . 09 10 0 Same Conversion Loan, 31 . . 90 17 6 2 fi* Victory Bonds, 4. . . . 109 10 0 Same Com'wealth, 5, 1945-75 . . 106 2 6 Same Com'wealth. fi, 1931-41 . . 101 12 6 Same Com'wealth. 3}. 1936-37 . . loi l 3 l 3| Victorian. 3, 1929-49 . . 86 17 6 10 0 Victorian, 31, 1929-49 . . 94 12 6 17 6J Victorian, 51, 1930-40 . . 104 0 0 in Ot Victorian, 5. 1932-42 . . 102 15 0 2 6 Victorian, 4J, 1940-60 . . 102 17 6 2 6t N.S.W., 4, 1933 . . . . 101 0 0 Same N.S.W.. 3. 1935 . . . . 99 10 0 2 6* N.S.W., 3». 1930-50 ..93 5 0 15 Ot N.S.W., 6}, 1930-40 . . 102 0 0 2 61 N.S.W.. 6. 1930-40 . . 102 10 0 10 0* Queensland, 5, 1940-60 . . 104 5 0 5 01 Queensland, 3, 1922-47 . 87 5 0 10 0 Queensland, 6, 1930-40 102 0 0 5 Ot New Zealand, 41. 1948-58 . ; 107 2 6 10 Ot New Zealand, 3}, 1940 ..99 16 3 1 3* New Zealand, 3, 1945 . . 92 10 0 5 01 New Zealand. 6. 1936-51 . . 105 17 6 2 6* S. Australia, 31, 1939 . . 100 7 6 12 6* S. Aus., 3. 1916 or after 76 15 0 18 Si S. Australia. 6">. 1930-40 . 101 15 0 Same Tasmania, 31, 1920-40 . . 99 12 6 20 01 Tasmania, 3. 1920-40 . . 93 0 0 Same Tasmania, 6}, 1930-40 . 101 15 0 5 0' \V. Australia. 31, 1929-35 .100 7 fi Same W. Australia, 3, 1915-35 . 99 10 0 2 6 TV. Australia. 6, 1930-40 .101 0 0 Same IHigher. *Lower. FOREIGN EXCHANGES LITTLE CHANGE IN STERLING j The following rates on foreign exchanges i are current, compared with the cabled quotations' on February 8 and par:— j Feb. 9 Feb. 8 Par Montreal, dol. .. 4.105 4.075 4.866 New York. dol. . 3.424 3.42 11-16 4.866 Paris, fr. .. 87 25-32 S7 13-16 124.21 Brussels, belga .. 24.635 21.64 35.00 ' Geneva, fr. .. 17.765 17.765 25.22 Amsterdam, fl. .. 8.54 8.53 12.10 ! Milan, lire .. 67 1-16 67 1-32 92.46 1 Berlin, r.m. .. 14.425 14 13-32 20.43 , Stockholm, kr. .. 18.70 18.75 18.159 Copenhagen, kr. . 22 7-16 22 15-32 18.153 I Oslo. kr. .. 19.50 19 17-32 18.159 > Vienna, sch. .. 30t 30♦ 34.585 i Prague, kr. .. 115.75 115.75 164.25 Hclsingfors, mark 226.75 226.50 129.23 1 Madrid, pes. .. 41 13-16 41.75 25.221 1 Lisbon, escu. .. 110 110 110 Athens, dr. .. 600 600 375.00 i Bucharest, lei. .. 580 580 813.6 RiodeJaneiro.mil. 5Jt 5.89 yd ' Buenoß Aires, dol. 41.50 41.50 47.619 d I Montevideo, dol. 33t 331 51d • Bombay, rupee . 18 5-32 18 5-32 18d Shanghai, tael .. 19J 191 • Hongkong, dol. 15.25 15.25 ! Yokohama, yen . 14} 14 15-16 24.58 d Batavia, fl. 8.54 Belgrade, din. .. 252.50 252.50 276.31 Warsaw, zlotys . . 30.62 1 Nominal. CUSTOMS EXCHANGE RATES i Rates of exchange ruling at the an- ! nounced date of departure of the vessels named are shown in the following table, j, They are subject to confirmation by the , Customs Department when the exact time of departure is learned on arrival of the | vessels in New Zealand, finally declared rates being marked*: — f 1 Canadian Victor, Canada, dollars .. 3.82 Brisbane Maru, Japan, yen .. .. 15d Ardenvohr, America, dollars . . . . 3.35 Niagara, Canada, dollars . . . , 4.04 Port. Gisborne. America, dollars .. 3.38} Canadian Scottish, Canada, dollars . . 3.84 Melbourne Maru, Japan, yen 14 15-16 d Golden Cloud, America, dollars . . 3.381 . NEW ZEALAND MONEY ABROAD The cost in New Zealand currency of the pound sterling and of the principal I foreign units, on the latest quotations, is as follows: — Present Price Par sd s d London, pound , . . . 24 11.58 20 0.00 Australia, pound .. 20 0.60 20 0.00 New York, dollar . .. 7 6.00 4 1.31 Montreal, dollar . S 3.10 4 1.31 Paris, franc .. .. 0 3.41 0 1.98 Berlin, mark . . . . 1 8.78 0 11.74 Copenhagen, krone . . 1 1.36 1 1.22 Yokohama, yen . . . . 1 6.57 2 0.58 These valuations represent the current rates at which banks sell drafts payable on demand. CHRISTCHURCH PROPERTY SALE DEAL OF ABOUT .£40,000 A Christ church property at. the corner of Colombo and Gloucester Streets known as Carey's Building, occupying one of the finest business sites in the-city, has been furchased by John Bates and Company, .imited. The price is understood to Lo in the vicinity of £40.000. The building, of two storeys, has an area of 24 perches, with a frontage of 55ft. on Colombo Street and "120 ft. on Gloucester Street. TALLOW. STATISTICS LONDON. Feb. 9 Tallow statistics at the end of January compared with the previous three months are:— Oct. Nov. Dec. Jan. Tons Tons Tons Tons Stocks . . 1238 971 925 Imports . . 340 331 427 593 Deliveries . 664 599 513 347 MELBOURNE PRODUCE MELBOURNE, Feb. 10 Wheat i,R dull at 2s 8d to 2s 9d a bushel. Flour, £7 10s a ton. Bran, £4 10s. Pollard, £5. Oats, Is lOd to Is lid a bushel. Barley: English, 2s 6d to 2s Bd. Maize, 5s to 5s Id. Onions: Quiet and steady, £2 10s to £2 15s a ton.