THE MONEY MARKET

New Zealand Herald, Volume LXX, Issue 21520, 17 June 1933, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN LARGER GOLD HOLDING INCREASE IN DEPOSITS LONDON. June 15 The Bank of England return for the week ended June 14 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt, debt £11,015,100 In circu- Other Govt. ltttion £375,021,029 securities 243,585,756 In bank- Other secuingdept. 72,099,866 rities .. 1,756,381 Silver coin 8,642.753 *£260,000,000 Gold coin & bullion 187,120,895 £447,120,895 £447,120,895 •Amount of fiduciary issue. * BANKING DEPARTMENT Capital .. £14,553.000 Govt, secuRest .. 3,313,607 nties .. £75,408,503 Deposits— Advances, Publio .. 11,611,297 £12.961.256 Bankers, Other 5ecu£104,802.420 rities. Other aca., £11,361,691 24 322,947 £38.075,231 143,477,651 Notes .. 72,099,866 Seven dny, Gold and etc., bills 1,322 silver com 1,i25,561 £172,956.877 £172,956,877 The principal items of the above return compare as follows with those of last week, the proportion of the reserve being shown in the last line: — Deposits— June 7 June 14 Publio . . . . £8,925.218 £11,611,297 Bankers . . . 102.409,999 104,802,420 Other accounts. 38.233,303 38,675,231 £140,568,520 £155,088,948 SecuritiesGovernment . • 76.25P.503 75,403,503 Advances, etc. . 11,073,188 12,961,256 Other . . . . 10.753.386 11,361,691 Reserve . . . . 69,'27*.596 73,225,427 Note circulation . 378,462,948 375,021,029 Coin and bullion . 187,737,544 188,240,456 Proportion . . 43.(50 47.20 SHORT LOANS AND BILLS The Bank of England rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2£ per cent. Short loans are quoted at 11-16 per cent, same as last week. The market rate of discount for best three months' bills is £ per cent, as compared with 7-16 per cent last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of June 8:

FOREIGN EXCHANGES STERLING AND THE DOLLAR The following rates on foreign exchanges are current, compared with tho cabled quotations on June 14 and par:—

NEW ZEALAND MONEY ABROAD Current dollar exchanges, as quoted by the New Zealand banks, are as under, compared with previous quotations:— U.S. Dollnrs to £1 June 5 June 8 June 9 June 12 June 1G Buyinn 4.10 4.1G 4.22 4.21 4.16 Selling 3.90 3.96 4.02 4.01 3.96 Canadian Dollars to £1 Buying 4.00 4.00 4.04 4.04 4.64 Selling 4.40 4.40 4.44 4.4-1 4.44 The cost in New Zealand currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: Present Price Par »d s d London, pound . . . . 21 11.58 20 0.00 Australia, pound . . . 20 0.00 20 0.00 New York, dollar . G 3.68 4 1.31 Montreal, dollar .. .. 5 7.45 4 1.31 Paris, franc . . .. 0 3.47 0 1.98 Berlin, mark . . .. 1 8.95 0 11.74 Copenhapen, kicno . . 1 1.3G 1 1.22 Yokohama, yen . . . . 1 6.84 2 0.58 These valuations represent the current rates at which banks sell drafts payable on demand. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates 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 arrival of the vessels in Now Zealand, finally doclared rates being marked*: — Canadian Challenger, Canada, dollarß 4.41 Maripoßa„ Americu dollars . . , . 3.99} Golden Cloud, Los Angclee, dollars .. 4.00 Canadian Constructor, Canada, dollars 4.51 BRADFORD TOPS FIRMNESS OF MARKET LONDON, June 15 The Bradford tops market is firm. To-day's quotations compared with those for the three previous weeks are:— May 25 June 1 June 8 June 15 Per lb. Por lb. Per lb. Per lb. Seventies . . 27 27 27 , 27 Sixty-fours .. 26 26 26 26 Sixties . , . . 211 241 241 244 Fifty-Bizes ..19 19 191 19J Fifties .. ..13 13 131 131 Forty-sixes 91 91 10 10 Forties ... 9 9 9 9 MELBOURNE PRODUCE MELBOURNE, June 16 Following are to-day's quotations on the Melbourno produce market:— Wheat, 3s lid. Flour, £8 7s Gd. Bran arid pollard, £4 15s. Oats, 2s 3d to 2s 3Jd- Barley—English, 2s 3d to 2s 6d. Maize—Queensland, spot, ss. Onions —Weak. Browri Spanish, £3 6s to £3 10s. Globes, £2 to £2 10s,

VariaFrice tion £ s d s d Consols, 2} per cent . . 84 0 0 20 Ot Funding Loan, 4, 19C0-90 110 10 0 15 Ot War Loan, 3J ■ . . . . 99 10 0 7 Gt Conversion Loan. 31 . . 99 12 G 7 Gt Victory Bonds, 4 .. 10S 17 G 2 6+ Com'wealth, 5, 1945-75 . . 104 12 G 7 6t Com'wealth, C, 1931-41 . . 102 10 tl 2 6t Com'wealth, 3J. 193G-37 . 100 2 G 2 Gt Victorian, 3, 1929-19 , . 87 2 6 2 G* Victorian, 3J. 1929-49 . . 93 5 0 2 Gt Victorian, 5J, 1930-40 . . 101 Victorian, 5, 1932-42 . . 101 18 9 11 3t 15 0 2 G* Victorian. 4J, 1940-60 . . 101 5 0 17 6t N.S.W., 4, 1933 '. . . . 99 15 0 Same N.S.W., 3. 1935 , . 99 12 G 2 N.S.W., 3}, 1930-50 . . 91 5 0 2 Gt N.S.W., 64, 1930-40 . . 103 5 0 Same N'.S.W., 6. 1930-40 . . 101 12 2 6+ Queensland, 5, 1940-G0 . . 103 12 G 5 Ot Queensland, 3. 1922-47 . . 87 5 0 2 6t Queensland. 6, 1930-40 . . 102 15 0 2 6* New Zealand, 4*. 1948-58 104 0 0 5 0* New Zealand, 3}, 1910 . . 99 5 0 10 ot New Zealand, 3. 1915 . . 93 2 G 2 6t New Zealand, 6. 193G-51 108 2 6 2 Gt S. Australia. 3}, 1939 . . 99 7 6 Same S. Aus., 3, 1916 or after 72 S. Australia, 61. 1930-40 103 15 0, 7 6t 5 0 Game Tasmania, 31, 1920-40 . . 93 15 0 2 Gt Tasmania, 3. 1920-40 . . 90! 0 0 17 6* Tasmania, 6}, 1930-40 . , 103 o 6 2 6* W. Australia, 3i, 1929-35 99 12 G 2 Gt W. Australia, 3. 1915-35 99 W. Australia, 6, 1930-40 100 2 6 1 3t 5 0 5 0* tHigher. 'Lower.

June 15 June 14 Par Montreal, dol. .. 4.545 4.561 4.866 Jvew York, dol. . 4.0Gi 4.10 4.8G6 Paris, fr. 86 8-16 86 124.21 Brussels, belga .. 24.275 24.225 35.00 Geneva, fr. 17.565 17.53 25.22 Amsterdam, fl. .. 8.435 8.4-25 12.10 Milon, lire 64.75 04 15-16 92.46 Berlin, r.m. 14.30 14 11-32 20.43 Stockholm, kr. .. 19.45 19.425 18.159 Copenhagen, kr. . 22.425 22.425 18.159 Oslo, kr. 10.75 ]9.75 18.159 Vienna, sch. ait 31 + 34.585 Prague, kr. 11-1.75 113} 164.25 Helsingfors, mark 226.50 226.50 129.23 Madrid, pes. 39 25-32 39 11-16 25.221 Lisbon, escu. 110 110 110 Athens, dr. 590 590 375.00 Bucharest, lei. .. 570 570 813.6 Kio de Janeiro, mil. 4Sdt 4!d + 5.899d Buenos Aires, dol. 41.75d 41,75d 47.619d Montevideo, dol. 34dt 34dt 51d Bombay, rupee . 38 5-64 d 18 5-64d 18d Shanghai, dol. .. 15 5-10d 15 5-16d Hongkong, dol. . 17 1-lGd 17 1-lGd Yokohama, yen . 15 3-32d J5.25d 24.58d Batavia, fl. 8.46 12.10 Belgrade, din. .. 250 250 276.31 Warsaw, zloty .. 30.18 — 43.38 {Nominal