THE MONEY MARKET

New Zealand Herald, Volume LXXI, Issue 21396, 20 October 1934, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN DECREASE IN DEPOSITS DISCOUNT RATES LOWER LONDON, Oct. 18 The Bank of England return for the week ended October 17 is as follows: — ISSUE DEPARTMENT Notes issued: — Govt, debt £11,015,100 In circu- Other Govt. lation £377,217,235 securities 2-14,796,361 In. bank- Othersecuing dept. 74,721,311 riti.es . . 1,18.0,563 Silver coin 2,908.&tG *£260,000,000 Gold coin & bullion 191,938,546 £451,938.516 £451,938,546 •Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,553,000 Govt, secuRest . . 3,098,671 rities . . £81,279,164 Deposits— ' Advances, Public . . 17,516,064 £9,468,333 Hankers, Other 5ecu£104,490.807 rities, Other ucs., £10,992,713 20,461,046 £37,443,710 111,934,517 Notes . . 74,721,311 Seven dny, . Gold and etc., bills 5,060 silver coin 645,791 £177,107,312 £177,107,312 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— Oct. 10 Oct. 17 Public .. .. £18,636.485 £17,516.064 Bankers .. .. 107,598.133 101,490.807 Other Accounts .. 38,866,809 37,443.710 £165,101,427 £159,450,581 Securities— Government .. P5.384.164 81.279.164 Advances, etc. .. 14,032,280 9.408.333 Other .. .. 10,289,224 10,992.713 Reserve .. .. 73,037,540 75.367.102 Noto circulation . . 379,550.625 377.217.235 Coin nnrl bullion 302.58P.105 192.584.337 Proportion . . 44.70 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 J per cent, compared with -J per cent last week. The market rate of discount for best three months' bills is 25-32 per cent, as compared with 13-16 per cent last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of October 11: — Price Variation £sd s d Consols, 2$ per cent . . 81 15 0 2 6* Funding Loan, 4, 1960-90 114 18 9 1 3* War Loan, 3i . . .. 105 15 0 2 6+ Conversion Loan, 35 .. 104 15 0 Same Victory Bonds, 4 .. . . 112 15 0 7 6+ Com'wealth, 5, 1935-45 .. 103 .3 9 1 3t Com'wealth, 5. 1945-75 .. 112 1 3 15 Ot Com'wealth, 3i, 1936-37.. 102 5 0 5 0+ Com'wcuHh, 4, 1943-48 .. 104 1 3 1 3+ Com'wealth, 3f. 1918-53.. 103 1 3 1 3* N.S.W., 3. 1935 .. .. 101 5 0 1 3+ N.S.W., 31, 1930-50 .. 100 6 3 6 3t N.S.W., 4*. 1935-45 .. 102 6 3 2 6+' N.S.W., 5, 1935-55 .. 102 7 6 2 6+ Victorian, 3, 1929-49 .. 96 10 0 8 9+ Victorian, 43, 1910-60, .. 106 12 6 8 9+ Victorian, 5. 1945-75 .. 111 10 0 6 3t Queensland, 3, 1922-47 .. 96 13 9 10 0+ Queensland, 5. 1940-60 . . 107 0 0 2 6+ S. Aus., 3, 1916 or after 85 10 0 5 Ot S. Australia, 5, 1915-75 . . 11l 8 9 6 3 + W. Australia, 3. 1915-35 . . 100 7 6 1 3* W. Australia. 4, 1912-62 .. 103 7 6 Same Tasmania, 3}, 1920-40 .. 102 17 6 20 0+ Tasmania. 4. 1940-50 .. 103 10 0 3 9+ New Zealand, 4*. 1918-58 109 7 6 5 0* New Zealand, 3i, 1940 . . 102 16 3 Same New Zealand, 3, 1945 . . 99 13 9 7 6+ New Zealand, 6. 1936-51.. 107 0 0 3 9+ t Higher, * Lower. FOREIGN EXCHANGES DOLLAR RATHER STRONGER British "Wireless RUGBY, Oct. 18 The following rates 011 foreign exchanges are current, compared with the cabled quotations on October 17 and par: Oct. 18 , Oct. 17 Par. Montreal, dol. .. 4.84% 4.83% • 4.866 New York, dol. . 4.93/4 4.91 1 /a 4.866 Paris,'fr. .. 74»/ lB 74% 124.21 'Brussels, belga . 21.02 20.94 35.00 Geneva, fr. . . 15.04% 14.99 25.22 Amsterdam, 11. , 7.24 7.21% 12.10 Milan, lire .. 57 v ,„ 57% 3 92.46 Berlin, r.m. .. 12.19 12.13 20.43 Stockholm, kr. . 19.39% 19.39% 13.159 Copenhagen, kr. . 22.40 22.40 18.159 10 on'/ no nni/ ic un

Vienna, sch. . . 26% 26% 34.585 Pn.cruo, kr. .. 117% 116 11 /,, 104.25 llelsinsrfors, mark 226% 226% 120.23 Madrid. pes. . . 35 la / la 35 U Y 33 25.221 Lisbon, escu. .. 110% 110% 110 Athens, dr. .. 510* 510* 375.00 Bucharest, lei. . . 490 490 813.6 T?io de Janeiro, mil.'iVA* 4V£d* 5.89f)d Buenos Aires, dol. 36% d* 36% d* 47.619 d Montevideo, dol. 39 ,S / B d* 39"/, r ,d* 51 d Bombay, rupee . IBY,«d 18%,, d ]Bd Shnntrhni, dol. . 15"/, „d 16% d Honprkonsr, dol. . 19 o < n d 20% s d Yokohama, yen . 13 a % 3 d 14d * 24.58 d Batavia, fl. .. 7.20 7.19 12.10 Bnlirrade, din. . . 214 213 276.31 Warsaw, zloty .. 25.87 'Sellers.

NEW ZEALAND MONEY ABROAD Current dollar exchanges as quoted by the Now Zealand banks, arc- as tinder:— Dollars to £1 Sterling Buying Selling United States .. 5.03 4.83 Canada .. .. 4.92 4.72 Following are the latest rates for purchases and sales of foreign excliango quoted by tho Bank of New South Wales, Auckland. They are subject to alteration without notice: — T.T. On Demand To £1 N.Z. Currency Selling Buying Selling France, fr. .. 59.13 00.73 59.1S ■Noumea, fr. .. 58.38 61.78 55.43 Papeete, fr. .. 58.38 01.78 53.43 Belgium, belga .. 10.563 17.363 10.578 Germany, r.m. .. 9.578 Italv, lire .. .. 45/37 Switzerland, fr. .. 11.903 12.383 11.918 Holland, 11. .. 5.099 5.999 5.703 Java, tl. .. .. 5.078 5,953 5.682 N.Z. pence to Japan, yen .. 17 n /i B India, ruppfi .. 22'n 22% a 2~V\« Ceylon, rupee . . 22% 22% a 22V,„ Singapore, dol. . . 35% 31/ i„ 35V, n The cost in New Zealand currency of the pound sterling, and of tho principal foreign units, on tho latest quotations, is as follows: — Present Price Par s d ad Australia, pound .. 19 10.81 20 0.00 London, pound .. .. 24 10.50 20 0.00 New York, dollar .. 5 1.80 4 1.31 Montreal, dollar . • E 3.27 4 1.31 Paris, franc . . •• 0 4.02 0 1.98 Berlin, rcichmark . • 2 0.49 0 11.7-1 Copenhagen, krone .. 1 1.83 1 1.22 Yokohama, yen .. .. 1 5.30 2 0.58 CUSTOMS EXCHANGE RATES Rates of exchange ruling at tho announced dates of departure- of tho vessels named are shown in tho following table. They are subject to confirmation by tho Customs Department when the exact time of departure is learned on arrival of the vessels in Now Zealand, finally declared rates boing marked : Wairuna, America, doliarß .. .. 4.891 Armadalo, America, dollars .. .. 4.991 Uolden Bear, America, dollars .. 4.958 Brisbane Maru, Japan, yen .. 14 1-1 (id fcingara, Canada, dollars . . . . 4.804 Cinadian Challenger, Canada, doliarß 4.81 City of Delhi, America, dollars . . 4.92} CALL AND DIVIDEND LIST Dividends— j uo „- South British-final. Is 4d a share Oct. 2a United Building (Auck)—final, 21 p.o. .. ... oct ' 26 Amalgamated Wireless final, P p C Oct. 29 Panic Adelaide—int., 2 p.o. .. Oct. 31 "VVaihi—int.. Is a share .. .. 1 Sharland and Co.—final, 21 p.c.. ord. and pref Nov. 8 Tnttersfield—o p.c. . . . . Nov. 15 Broken Hill Pty.— half-yearly, In a share • • • • ■ • Ivov. 21 Bruce Woollenord.. H P-c.; pref.. 5 3-5 p.c. Nov. Nat. Bunk A'nsia.—lnt., £5 and £lO paid, 21 p.c. . . • ■ Nov. 28 Aunt. Glass—int. pref., 45 p.c.; ore!., 6 p.c. . • • - • • Ucc. 1